Core Viewpoint - The retirement of He Yanping, the general manager of Western Gain Fund, marks a significant transition in the public fund industry, highlighting the importance of leadership stability and strategic growth in the sector [2][4]. Group 1: Leadership Transition - He Yanping has retired due to age after nearly ten years of leadership at Western Gain Fund, during which the company grew from a small fund with less than 100 billion in assets to a mid-sized player with over 1000 billion in assets under management [2][4]. - The board of Western Gain Fund expressed gratitude for He Yanping's contributions during her tenure, emphasizing the stability in management and strategic direction she provided [4]. Group 2: Company Growth and Strategy - Under He Yanping's leadership, Western Gain Fund established a differentiated positioning as a "basic product supplier," which contributed to the stability and resilience of its various business lines, including fixed income, quantitative, equity, and mixed assets [3][4]. - The company achieved a compound annual growth rate of over 25% in non-monetary fund management scale, with its overall management scale surpassing 1000 billion, ranking within the top 50 in the industry [4]. Group 3: Industry Trends - The public fund industry has seen a notable increase in leadership changes due to age, with several executives retiring in 2023, indicating a normal transition as the industry shifts from rapid growth to a phase of high-quality development [5][6]. - The retirement of veteran leaders is expected to bring in new talent, injecting fresh perspectives into the industry, which is crucial for its ongoing evolution [6].

Core Viewpoint - The general manager of Western Leading Fund, He Yanping, has retired due to reaching retirement age, and the chairman, He Fang, will take over the role of general manager [1][3][4]. Company Overview - As of June 30, 2025, Western Leading Fund achieved a compound annual growth rate of over 25% in its non-monetary fund management scale, with the overall management scale surpassing 100 billion yuan, reaching 116.646 billion yuan [1][9]. - The company manages 74 public funds, covering various types including equity, index, mixed, bond, and money market funds, with bond funds accounting for the majority at 78.898 billion yuan and money market funds totaling 23.613 billion yuan [9]. Leadership Transition - He Yanping has served as the general manager since November 2015 and has contributed significantly to the company's business development, establishing a stable and differentiated positioning as a "basic product supplier" [7][9]. - The board expressed gratitude for He Yanping's contributions during her tenure [4]. Performance Metrics - Under He Yanping's leadership, the fund's management scale and quality have steadily improved, with the bond products achieving a performance of 91.87% over the past ten years, ranking 1st out of 71 in the industry [9]. - The equity products have also performed well, with a return of 47.52% over the past five years, ranking 25th out of 141 [9]. Organizational Structure - The company has established a "shared" organizational system centered around a "modular matrix structure" and the "WISE system," which enhances research efficiency and allows for the standardization of investment logic [7].