文|恒心 来源|财富独角兽 近日，华安基金发布公告称，"双十"基金经理蒋璆因个人原因卸任全部在管产品。 这位任职超14年、管理规模曾超百亿的权益投资老将，以"清仓式"离职的方式告别了华安基 金。据《21世纪经济报道》等消息，蒋璆下一站或将前往私募。 这已是华安基金近一年内流失的第二位权益大将。2025年5月，同样拥有亮眼业绩的李欣也 因个人原因卸任了全部产品。 接连失去两位核心投资人才，让华安基金的权益投研梯队，特别是具有稳定业绩输出的中生 代力量出现空缺。 明星基金经理的光环逐渐暗淡，权益团队人才持续流失，这家老牌公募基金公司正面临严峻 的投研实力考验。 蒋璆的告别：业绩分化与持股同质化 蒋璆的职业生涯颇具传奇色彩。 除华安创业板两年定开外，其余8只基金的重仓股重叠度较高，长源东谷、中材科技、英搏 尔同时出现在8只产品中，禾望电气、复旦微电出现在7只产品中。 这种高度同质化的持仓策略，虽然降低了管理难度，但也带来了不容忽视的风险集中问题。 梯队危机：流失潮下的权益投研"空心化" 2004年从复旦硕士毕业后，他并未直接进入金融行业，而是先加入了全球钢铁巨头韩国浦项 钢铁总部从事进出口贸易业务。这段实业经历塑造 ...

文 | 独角金融 谢美浴 编辑 | 付影 任职超14年、管理规模曾超百亿，华安基金管理有限公司（以下简称"华安基金"）失去一位权益干将。 因个人原因，华安基金经理蒋璆已于1月19日清仓全部在管的9只产品，并不再转任公司其他岗位。据《21世纪经济报道》从业内获悉，蒋璆下一站或 将前往私募。 作为一位拥有"双十"（任职超十年、年化收益超10%）光环的老将，蒋璆曾是华安基金权益投资的核心力量。而这已是华安基金近一年内流失的第二 位权益大将，2025年5月，李欣也因个人原因卸任了全部产品。 在蒋璆、李欣离去后，华安基金的投研梯队，特别是具有稳定业绩输出的中生代力量出现空缺。与此同时，Wind数据显示，目前公司管理权益类基 金规模超百亿的只有胡宜斌一位，而包括万建军、饶晓鹏、陈媛在内的其他一些资深基金经理，近年所管产品业绩面临较大挑战。 1、"双十"老将离任，一年内连失两员权益大将 公开资料显示，蒋璆为硕士研究生，18年从业经历。曾任国泰君安证券有限公司研究员、华宝兴业基金管理有限公司研究员。 2011年6月，蒋璆加入华安基金，在担任了4年行业分析师后，于2015年6月起开始管理公募产品。蒋璆在管公募规模在2022年年 ...

Core Viewpoint - The departure of Jiang Qiu, a key equity manager at Hu'an Fund, marks the second significant loss for the company within a year, raising concerns about the stability of its investment research team and the performance of its equity funds [1][22][30]. Group 1: Departure of Key Managers - Jiang Qiu has left Hu'an Fund after clearing all nine products he managed, with speculation that he may move to private equity [1][22]. - This follows the earlier departure of Li Xin in May 2025, who also left all his managed products for personal reasons [1][30]. - The loss of these two experienced managers has created a gap in the mid-level talent pool, particularly affecting the stability of performance in the equity investment team [1][30]. Group 2: Performance of Managed Products - Jiang Qiu's managed products had a total scale of 55.78 billion yuan, with six out of nine products showing positive returns [2][23]. - The best-performing product under Jiang was the "Hu'an Manufacturing Pioneer," which achieved a return of 309.36% since its management began in December 2018 [4][24]. - However, some products managed by Jiang, including "Hu'an Innovation," reported negative returns, with a return of -3.65% [5][26]. Group 3: Impact on Hu'an Fund's Equity Team - The current equity team at Hu'an Fund is facing challenges, with many managers showing underperformance in their respective products [30][33]. - The fund's active equity management scale has significantly decreased, dropping from 1,896.99 billion yuan at the end of 2021 to 880.34 billion yuan by the end of 2025 [15][37]. - Only Hu Yi Bin remains as a prominent manager with over 100 billion yuan under management, while others have struggled to maintain performance [15][39]. Group 4: Future Outlook and Strategy - Analysts suggest that Hu'an Fund needs to strengthen its internal research capabilities and enhance the training of younger fund managers to rebuild its competitive edge in equity investment [21][42]. - The company has a strong historical performance record, but the recent talent losses may impact investor confidence and lead to potential fund outflows [30][42].

Core Viewpoint - The resignation of Jiang Qiu, a senior fund manager at Huashan Fund, after over 14 years, is attributed to "personal reasons," and he has completely exited from managing all nine funds under his supervision, with speculation that he may transition to private equity [1][4][19]. Fund Performance Summary - Jiang Qiu managed nine funds, with notable performances including: - Huashan Dynamic Flexible Allocation A, which achieved a return of 202.24% since its inception, with an annualized return of 11.00%, ranking 24th out of 517 in its category [5]. - Huashan Manufacturing Pioneer A, with a return of 306.59% and an annualized return of 21.95%, ranking 30th out of 613 [5][6]. - Huashan Growth Pioneer A, which had a return of 18.10% and ranked 393rd out of 1589 [5]. - Conversely, some funds under Jiang's management performed poorly, such as: - Huashan Manufacturing Upgrade One-Year Holding A, which recorded a loss of 3.29% since inception [7]. - Huashan Industry Power Six-Month Holding A, with a loss of 13.81% [7]. Market Context and Fund Management Challenges - Jiang Qiu's management coincided with market highs, leading to significant inflows into his funds, but subsequent market corrections resulted in substantial losses for investors who entered at peak times [10]. - The performance of Jiang's funds reflects a broader issue in the industry where fund managers may experience strong long-term returns, but individual investor experiences can vary significantly due to market timing and fund inflows [10][12]. Transition and Future Implications - Jiang Qiu's departure may impact Huashan Fund's investment team and the performance continuity of the funds he managed, raising concerns among investors about the ability of new managers to maintain performance [19]. - The trend of fund managers transitioning to private equity or other platforms reflects ongoing changes in the industry, driven by competitive pressures and personal career aspirations [23].