兴全趋势投资混合（LOF）成立于2005年11月3日，截至2025年7月2日，其今年来收益率 为-10.14%，成立来收益率为1532.85%，累计单位净值为10.0009元。截至2025年3月31日规模137.96亿 元。 中国经济网北京7月3日讯 今日，兴证全球基金公告，兴全趋势投资混合（LOF）增聘谢长雁。 谢长雁2007年8月至2009年8月，就职于惠州市禾玉堂园林景观设计工程有限公司，任助理工程师， 2015年9月至2021年4月，就职于国信证券股份有限公司，任行业研究员。2021年4月起至今就职于兴证 全球基金管理有限公司，历任研究部行业研究员、基金经理助理。 | 基金名称 | 兴全趋势投资混合型证券投资基金(LOF) | | --- | --- | | 基金间称 | 兴全趋势投资混合(LOF) | | 基金主代码 | 163402 | | 基金前端交易代码 | 163402 | | 基金后端交易代码 | 163403 | | 基金管理人名称 | 兴证全球基金管理有限公司 | | 公告依据 | 《公开募集证券投资基金信息披露管理办法》、《基金管理公司投资 | | | 管理人员管理指导意见》等相关法 ...

Core Viewpoint - The departure of several star fund managers has prompted the industry to reflect on its reliance on individual reputations, signaling a shift from a "star era" to a "platform era" in public funds [1][7][14]. Group 1: Impact of Departures - The exit of key fund managers like Qiu Dongrong has led to significant scale fluctuations and performance challenges for their respective firms, highlighting the risks of depending on individual managers [1][3]. - After Qiu Dongrong's departure, the total assets under management at Zhonggeng Fund dropped from 189.72 billion to 116.07 billion, a year-on-year decrease of 38.82% [4]. - Other firms, such as Yuanxin Yongfeng Fund, also experienced a decline in total scale after the departure of manager Fan Yan, with a reduction from 356 billion to 323.81 billion [5]. Group 2: Industry Reflection and Changes - The industry is recognizing the need to rebuild trust in research teams and platforms rather than relying solely on star managers, as evidenced by the shift in investor sentiment [1][7]. - A trend towards team-based management is emerging, with firms increasingly hiring multiple managers for funds to ensure continuity and stability [9][10]. - The number of funds announcing the hiring of additional managers has surged, with 267 announcements made this year alone [10]. Group 3: Regulatory and Strategic Shifts - Regulatory bodies have long been concerned about the "star phenomenon" in public funds, advocating for a transition to a more team-oriented and platform-based investment approach [13][14]. - The industry is moving towards a "platform era," where the focus is on collective team performance rather than individual star managers, as seen in the strategies of firms like Zhonggeng and Zhongou [16]. - The emphasis on team capabilities and a comprehensive investment research framework is becoming a priority for firms, aligning with regulatory expectations [12][16].

Group 1 - The public fund industry is undergoing a significant management model transformation, shifting from reliance on a single fund manager to a collaborative "multi-manager" approach [1][4] - As of July 8, over 700 funds have appointed additional fund managers this year, with the number of funds managed by three or four managers on the rise [1][3] - Notable fund managers, such as Ge Lan and Zheng Chengran, have recently announced the appointment of additional managers to their funds, indicating a trend towards shared management [3][4] Group 2 - The rise of the "co-management" model is driven by industry transformation and regulatory advocacy, bringing positive changes to the sector [4] - The multi-manager approach enhances asset coverage and expands the skill set of fund managers while improving strategy diversification [4] - This model effectively mitigates risks associated with single decision-maker errors and aggressive operations, and addresses challenges related to fund performance continuity in the event of a manager's departure [4]

Core Viewpoint - The performance of Xingzheng Global Fund has significantly declined, primarily due to the departure of star fund manager Dong Chengfei and the subsequent drop in the management scale of its actively managed equity funds, leading to a substantial decrease in revenue and net profit [3][5][19]. Group 1: Financial Performance - In 2024, Xingzheng Global Fund reported operating revenue of 3.279 billion yuan and net profit of 1.413 billion yuan, marking a decline of over 50% in revenue and nearly 37% in net profit compared to 2021 [3][5]. - The fund's actively managed equity fund scale dropped from 218.729 billion yuan in 2021 to 124.12 billion yuan by the end of 2024, reflecting a significant reduction in management fees [7][19]. - The decline in revenue and profit is attributed to the overall decrease in the performance of actively managed equity funds and the regulatory changes that reduced management fees from 1.5% to 1.2% [5][19]. Group 2: Competitive Comparison - In contrast, E Fund's operating revenue only decreased by approximately 16% and net profit by about 14%, indicating that Xingzheng Global Fund's performance decline is more severe [4]. - The poor performance of Xingzheng Global Fund's actively managed equity funds is linked to the lack of competitive investment returns compared to peers, with many funds underperforming their benchmarks [19]. Group 3: Management Challenges - The departure of Dong Chengfei has led to a talent drain within the company, resulting in a significant drop in the performance of flagship funds like Xingquan Trend Investment Mixed Fund, which has seen losses of nearly 10 billion yuan over three years [7][15][19]. - The current fund managers, including Xie Zhiyu and Dong Li, have not been able to replicate the previous success, with their management periods yielding negative returns [15][19]. - The company faces challenges in attracting and retaining top talent, which is critical for improving fund performance and regaining investor confidence [19].