Core Viewpoint - The announcement of the passing of Wang Guobin, the founder and general manager of Quan Guo Fund, has led to the appointment of Ren Li as the acting general manager, marking a significant leadership change in the company [1][6]. Company Overview - Quan Guo Fund Management Co., Ltd. was co-founded by Wang Guobin in 2022, and it is recognized as the only "personal system" public fund approved that year [7]. - The company has transitioned its website to black and white in mourning for the founder [2]. Management Changes - Wang Guobin passed away due to illness on November 3, 2025, and Ren Li, the current chairman, has taken over as the acting general manager [5][6]. - Ren Li has a robust background in asset management, having previously held senior positions at Dongfang Securities and possesses a master's degree [4]. Strategic Insights - In a recent strategy meeting, Wang Guobin emphasized the importance of focusing on technological iteration and consumer upgrades while being cautious of short-term market noise [6]. - He highlighted the resilience of the Chinese economy, attributing it to a complete industrial chain and ongoing technological innovation, which provides a solid foundation for manufacturing and innovation [6].

王国斌的突然离世，让行业内许多人深感震惊与惋惜。消息传来，大家纷纷追忆与他共事的点滴，感念 他不仅是一位值得尊敬的前辈，更像一位人生导师，在他人迷茫时指点方向，在他人困难时给予力量。 天风证券副总裁赵晓光惋惜道："惊闻我的入行老领导、恩师猝然离世，心情顿时阴霾，国斌总是充满 智慧、充满能量的大师级投资大师和管理大师，曾为我们传经授道，悲从中来，天妒英才！" 王国斌拥有31年证券从业经验，是国内证券市场入行最早的一批投资老将，穿越A股市场多轮牛熊周 期，始终坚守在投资一线。他在中国率先提出并引领了"价值投资"理念，其建立的价值投资体系与框架 影响了业内一批知名基金经理。 入行最早的一批投资老将 王国斌，中共党员，上海市人大代表。泉果基金管理有限公司总经理，北京大学学士、硕士。公开资料 显示，王国斌拥有31年证券从业经验，是国内最早的一批投资老将。 1986年，王国斌先后就读于北京大学化学系、社会学系，后在北大经济管理系攻读硕士，毕业后曾任职 于当时的龙头券商南方证券和万国证券，从事收购兼并与投资银行工作，后转入中国经济开发信托投资 公司。 1998年，王国斌加盟东方证券，曾任东方证券副总裁、东方证券资产管理公司 ...

Core Viewpoint - Wang Guobin, the general manager and founder of Quan Guo Fund Management Co., Ltd., has passed away, and the chairman, Ren Li, will take over his responsibilities [1][4]. Group 1: Company Overview - Quan Guo Fund was established in 2022, and as of November 3, 2025, it has a fund management scale of 23.787 billion yuan, with six funds under management and five fund managers [5]. - Wang Guobin held a 35% stake in Quan Guo Fund and was also a representative of the Shanghai Municipal People's Congress [1][4]. Group 2: Wang Guobin's Background - Wang Guobin previously worked at Dongfang Securities, where he served as the general manager of the securities investment business headquarters and vice president [3]. - In 2005, he founded Dongfang Hong Asset Management, which became the first broker-based asset management company in China to obtain a public fund license in 2010 [4]. Group 3: Industry Insights - Wang Guobin highlighted that China has become one of the fastest-growing economies in terms of innovation over the past decade, driven by the maturation of the post-80s and post-90s generations [4][5]. - He emphasized the advantages of China's large population and engineering talent, with nearly 20 million graduates annually, predominantly engineers, which supports potential innovation [5].

11月3日，泉果基金管理有限公司发布高级管理人员变更公告，总经理王国斌病逝，由董事长任莉代任总经理职务，任职日期为2025年11月3日。 官网资料显示，泉果基金成立于2022年2月8日，也是2022年唯一获批的一家"个人系"公募。这家自然人持股的全国性公募基金管理公司，发起股东包括王国 斌、任莉、姜荷泽、李云亮等，注册资本为人民币1亿元，总部位于上海。 公司官网已变黑白 | and the first and can be and the may | | | --- | --- | | 基金管理人名称 | 泉果基金管理有限公司 | | 公告依据 | 《公开募集证券投资基金信息披露管 | | | 办法》《证券基金经营机构董事、监事 | | | 高级管理人员及从业人员监督管理办法 | | | 等相关法律法规 | | 高管变更类型 | 代任基金管理公司总经理 | | | 离任某会管理公司总经理 | | 代任高级管理人员职务 | 总经理 | | --- | --- | | 代任高级管理人员姓名 | 任莉 | | 是否经中国证监会核准取得高 | | | 管任职资格 | | | 中国证监会核准高管任职资格 | | | 的 ...

11月3日，多位业内人士确认泉果基金创始人、总经理王国斌因病去世，享年57岁。泉果基金官网当天灰度化，并发布《基金行业高级管理人员变更公 告》，由董事长任莉代任总经理。业内同时传出，王国斌此前曾接受肝移植手术但感染未能控制，该说法目前尚未获得权威渠道证实。泉果基金未披露更多 细节，仅在公告中表述"因病去世"。这位曾在东方红资管时期奠定公募"长期主义"体系的重要人物的突然离世，使这家成立仅三年的个人系公募再度被推向 聚光灯。 | About | | --- | | 相遇泉果 | | 客户服务 | | 信息披露 | | 专户理财 | | 公募基金 | | 首页 | | 泉果基金管理有限公司基金行业高级管理人员变更公告 | 2025-11-03 | | --- | --- | | 泉果消费机遇混合型发起式证券投资基金2025年第3季度报告 | 2025-10-24 | | 泉果嘉源三年持有期混合型证券投资基金2025年第3季度报告 | 2025-10-24 | | 泉果思源三年持有期混合型证券投资基金2025年第3季度报告 | 2025-10-24 | | 泉果泰然30天持有期债券型证券投资基金2025年第3季度报 ...

Core Insights - The overall market showed a volatile trend last week, with a mix of gains and losses, as highlighted by the recent report from the China Listed Companies Association regarding the cash dividend plans of A-share companies [1] Group 1: Market Performance - As of October 31, 2025, a total of 1,033 listed companies in A-shares announced cash dividend plans for the first, second, and third quarters, an increase of 141 companies compared to the same period last year [1] - The total cash dividend amount across the market reached 734.9 billion yuan [1] Group 2: Investment Trends - The frequency of cash dividends among listed companies is steadily increasing, which may enhance the attractiveness of dividend-related assets [1] - The low-volatility dividend ETF (512890) has seen significant inflows, attracting a net subscription of 3.571 billion yuan over the month, making it one of the few dividend-themed ETFs with net inflows exceeding 2 billion yuan during the same period [1][2] Group 3: Fund Performance - The low-volatility dividend ETF (512890) has achieved positive returns in every complete historical year since its inception in December 2018, with a total fund size reaching 24.645 billion yuan as of October 31, 2025 [1][3] - The fund manager noted that the low-volatility dividend strategy is expected to continue to perform well in the current market environment, particularly in sectors related to infrastructure and stable growth [1] Group 4: Fundholder Statistics - As of June 30, 2025, the low-volatility dividend ETF (512890) had a total of 1.1631 million account holders, making it the only dividend-themed index fund with over 1 million holders during that period [2] - The Huatai-PineBridge Low Volatility Dividend ETF Link Y (022951) reached a scale of 245 million yuan, marking a 440.36% increase compared to the end of 2024 [2] Group 5: Management Expertise - Huatai-PineBridge has over 18 years of experience in managing dividend-themed index investments, with a diverse range of products under its "dividend family" strategy [2]

Core Viewpoint - Recent interest rate cuts by several small and medium-sized banks in China have led to a significant decline in deposit rates, with reductions ranging from 15 to 80 basis points, potentially pushing money market fund yields below 1% [1][2] Group 1: Interest Rate Cuts - Over 10 small and medium-sized banks have announced deposit rate cuts since October, primarily affecting fixed-term deposits [1] - The largest reduction in long-term deposit rates reached 80 basis points, while most adjustments were between 15 to 40 basis points [1] - The downward trend in interest rates is expected to continue, impacting the yields of various financial products, including money market funds [1] Group 2: Money Market Fund Performance - Despite declining yields, the total scale of money market funds in China has grown to approximately 14.81 trillion yuan, an increase of 1.2 trillion yuan from the end of last year [2] - The average 7-day annualized yield of money market funds remains higher than that of demand deposits and is comparable to 1-year fixed deposits [2] - The growth in money market fund scale is attributed to their relative advantages in risk-return balance and liquidity management compared to bank deposits [2][3] Group 3: Investment Convenience - Money market funds allow for investments starting from 1 yuan and typically support T+0 or T+1 quick redemptions, catering to investors' immediate liquidity needs [3] - Some money market funds, like Yu'ebao, are integrated into payment scenarios, enhancing user engagement and expanding their user base [3] Group 4: Investor Considerations - For investors with short-term liquidity needs, money market funds provide a favorable balance of risk and convenience, even as yields decline [4] - The current interest rate environment suggests that low rates may persist, leading investors to adjust their yield expectations for idle funds [4]

11月3日，泉果基金发布讣告。 "做资产管理是受人之托，守住'忠信'是我们的本分，也是我们的承诺。"泉果基金所有员工将继续秉承王国斌先生的思想 和精神，寻清泉，种良木，以投资者长期价值最大化为宗旨，力争交付投资硕果。 泉果基金对王国斌先生为公司创建和发展所做出的巨大努力和卓越贡献由衷感谢，对他的离世表示沉痛哀悼！在此，谨 向王国斌先生家人致以最深切的慰问。 兹定于2025年11月9日10时在上海市徐汇区龙华殡仪馆1号厅举行王国斌先生追思会，做最后的告别。 王国斌先生，1968年2月生，浙江金华人，中共党员，上海市人大代表。北京大学学士、硕士，曾就读于化学系、社会学 系、光华管理学院。 作为中国证券市场入行最早、并始终坚持在投资一线的资深专业人士之一，王国斌先生率先提出并引领和实践价值投资 理念，并以其深厚的专业素养与前瞻性视野，为中国资产管理行业培养了大批人才，做出了重要贡献。 王国斌先生被业内誉为"企业家型投资人"，在证券市场从业超过三十年，系东方红资产管理创始人、首任董事长，君和 资本联合创始人。王国斌先生怀揣"投资中国"之心，作为主要股东之一于2022年创办了泉果基金，始终积极地看待中国 发展，坚定地相 ...

Group 1 - Wang Guobin, the founder and general manager of Quan Guo Fund Management Co., Ltd., passed away on November 3, 2025, at the age of 57 due to illness [3][4] - Wang Guobin was a prominent figure in China's securities market, known for advocating and practicing value investment principles, contributing significantly to the asset management industry [3][4] - He was recognized as an "entrepreneurial investor" with over thirty years of experience in the securities market [3] Group 2 - In 2022, Wang Guobin co-founded Quan Guo Fund with a vision of investing in China, believing in the future of the Chinese capital market and asset management industry [4] - The employees of Quan Guo Fund are committed to upholding Wang Guobin's philosophy and spirit, focusing on maximizing long-term value for investors [4] - A memorial service for Wang Guobin is scheduled for November 9, 2025, at the Longhua Funeral Home in Shanghai [5]

Core Viewpoint - The stock market is experiencing significant inflows into ETFs, with October seeing a record net inflow of over 1000 billion yuan, indicating strong investor interest and market optimism [3][9][8]. Group 1: Market Performance - In October, the Shanghai Composite Index reached a ten-year high, briefly surpassing 4000 points, with a monthly increase of 1.85% [9]. - The total net inflow into stock ETFs (including cross-border ETFs) for October was 1014.50 billion yuan, bringing the year-to-date total to approximately 2991.07 billion yuan [9][8]. Group 2: Sector Analysis - The top sectors for net inflows in October included the CSI 300 Index (67.2 billion yuan), semiconductor industry (35.9 billion yuan), and securities industry (23.2 billion yuan) [5]. - Conversely, sectors experiencing net outflows included new energy (8.5 billion yuan), rare earths (6.6 billion yuan), and petrochemicals (4.9 billion yuan) [5]. Group 3: ETF Performance - The leading ETFs by net inflow in October were the Securities ETF (64.64 billion yuan), Broker ETF (41.17 billion yuan), and Bank ETF (40.03 billion yuan) [10]. - Notably, the E Fund's ETF products saw a significant net inflow of 32.4 billion yuan on October 31, with a total scale of 823.3 billion yuan [5]. Group 4: Future Outlook - Analysts suggest that despite the market's recent gains, there remains potential for further inflows from institutional investors, particularly in emerging technologies [13]. - The market is expected to maintain an upward trend, with a focus on core technology stocks, while also recommending a balanced investment approach to mitigate volatility [13].