Core Viewpoint - The article discusses recent executive changes at AVIC Fund, highlighting the resignation of former Deputy General Manager Deng Haiqing and the appointment of Han Hao as the new Deputy General Manager, emphasizing the implications of these changes on the company's management and investment strategies [1][2][5]. Group 1: Executive Changes - Deng Haiqing resigned from his position as Deputy General Manager on November 13 due to personal reasons, with no indication of a transfer to another role within the company [2][5]. - Han Hao has been appointed as the new Deputy General Manager, effective November 19, 2025, and is noted for his significant management experience, overseeing a total of 15.589 billion yuan in assets [2][3]. Group 2: Fund Performance and Strategy - Han Hao's management includes four funds, with the "AVIC Opportunity Navigation" fund achieving a remarkable annual growth of 116.42%, largely due to its heavy investment in the AI sector [3][4]. - Despite the high performance of the AI sector, Han Hao cautioned that the volatility may increase in the fourth quarter, suggesting a potential slowdown in the sector's response to positive catalysts [4]. Group 3: Company Overview and Challenges - AVIC Fund, established in 2016, has seen its public fund scale increase, managing over 60 billion yuan across 30 funds, with equity funds nearing 20 billion yuan [7]. - The company has experienced frequent management changes, including the recent announcement of a 10% stake sale by its largest shareholder, AVIC Securities, which has not yet resulted in a transaction [7][9].

Core Viewpoint - The article discusses the resignation of Deng Haiqing from the position of Deputy General Manager at AVIC Fund due to personal reasons, and his potential transition to a larger public fund platform, Zhongjia Fund, which aligns with his macro research background [1][2][4]. Group 1: Management Changes - Deng Haiqing resigned as Deputy General Manager of AVIC Fund on November 13, 2023, and will not take on any other roles within the company [1][2]. - Deng Haiqing has a diverse career background, having worked at various financial institutions, including Guojin Securities and Ant Financial Research Institute, before joining AVIC Fund in December 2020 [2][3]. Group 2: Fund Management and Performance - During his tenure, Deng Haiqing managed the AVIC Mixed Reform Selected Fund, which saw a significant shift in its portfolio towards real estate, with 90% of holdings concentrated in this sector by the end of 2023 [3][4]. - The fund's performance under Deng Haiqing was subpar, with a return of -13.45% over nearly one and a half years, ranking in the bottom 10% among similar funds [4]. Group 3: Future Outlook - Deng Haiqing has expressed optimism about the A-share market, citing potential improvements in profitability across multiple sectors supported by policy changes [4]. - He has highlighted investment opportunities in artificial intelligence and its infrastructure, suggesting that these areas could drive significant economic growth and demand [4][5].

Core Viewpoint - The announcement of Deng Haiqing's resignation as Deputy General Manager of AVIC Fund and his intention to join Zhongjia Fund highlights a significant personnel shift within the investment management sector, indicating potential changes in investment strategies and focus areas for both funds [1][3]. Group 1: Management Changes - Deng Haiqing resigned from his position as Deputy General Manager of AVIC Fund on November 13 due to personal reasons and will not take on any other roles within the company [1]. - Deng has a diverse background, having worked in various financial institutions, including Guotai Junan Securities and Ant Financial Research Institute, before joining AVIC Fund in December 2020 [1]. - During his tenure at AVIC Fund, Deng was involved in managing a fund and actively shared market insights on public platforms [1]. Group 2: Investment Strategy and Performance - Under Deng's management, the AVIC Mixed Reform Selected Fund showed a high concentration in real estate stocks, with nine out of the top ten holdings being real estate by the end of 2023 [2]. - The fund's performance during Deng's tenure was subpar, with a return of -13.45%, placing it in the bottom 10% among similar funds [2]. - Since Deng's departure, the new manager, Fang Cen, has significantly altered the fund's holdings, shifting focus to rare earth and strategic metals industries [2]. Group 3: Future Outlook - Deng has expressed optimism about the A-share market, citing potential improvements in profitability across multiple sectors supported by policy changes [2]. - He believes that investments in artificial intelligence and its infrastructure will yield high returns and drive global economic growth, suggesting a shift towards a more collaborative competitive environment among major powers [3]. - If Deng officially joins Zhongjia Fund, it could indicate a strategic alignment with the fund's focus on fixed-income products, given his macroeconomic research background [3].

Core Viewpoint - Renowned economist Deng Haiqing has officially resigned as the Deputy General Manager of AVIC Fund due to personal reasons, marking a significant leadership change in the company [1][3]. Company Overview - AVIC Fund, established in 2016, is controlled by AVIC Group, with AVIC Securities holding 55% and Beijing Shougang Fund holding 45% [8]. - As of the end of Q3 this year, AVIC Fund has a public fund management scale exceeding 60 billion yuan, with over 30 funds under management [8]. Leadership Changes - Deng Haiqing joined AVIC Fund in December 2020 as Chief Investment Officer and was promoted to Deputy General Manager in December 2021 [5]. - His departure follows a series of management changes within the company, including the resignation of the General Manager and Chief Supervisor earlier this year [10]. Investment Strategy and Performance - AVIC Fund has focused on a differentiated development path, particularly in public REITs and bond funds, achieving notable innovation in product offerings [8]. - The company has established multiple public REITs related to green energy, photovoltaic, and logistics, as well as ESG-themed bond products [8]. - In equity investments, AVIC Fund has performed exceptionally well, with equity fund returns reaching 99.06% in the first three quarters of this year, ranking second in the industry [9].

Core Viewpoint - The departure of Deng Haiqing, a prominent economist and the Vice General Manager of AVIC Fund, is a significant event for the company, which has been focusing on differentiated development and product innovation in recent years [2][4]. Company Overview - AVIC Fund was established in 2016 and is controlled by AVIC Group, with AVIC Securities holding 55% and Beijing Shougang Fund holding 45% [13]. - As of the end of Q3 2023, AVIC Fund manages over 60 billion yuan in assets, with more than 30 funds under management [13][14]. Management Changes - Deng Haiqing officially announced his resignation as Vice General Manager on November 13, 2025, due to personal reasons and will not take on any other roles within the company [4][7]. - Deng joined AVIC Fund in December 2020 as Chief Investment Officer and was promoted to Vice General Manager in December 2021 [8]. - The company has experienced frequent changes in senior management, including the resignation of the General Manager and Chief Supervisor in July 2024 [15][16]. Investment Strategy and Performance - AVIC Fund has been focusing on specialized development, particularly in public REITs and bond funds, achieving notable differentiation in these areas [12][14]. - The company has established multiple public REITs covering various asset types, including green energy and logistics, and has seen significant performance in equity investments, with a 99.06% return in the first three quarters of 2023, ranking second in the industry [14].