Core Viewpoint - Multiple well-known fund managers have resigned from their managed funds at the beginning of 2026, indicating a significant trend in the public fund industry [1]. Group 1: Resignations of Fund Managers - Chen Qiming has resigned from most of his fund manager positions as of January 26, 2026, due to personal reasons, following his previous resignation as Deputy General Manager of Huafu Fund [2][4]. - Other notable fund managers, including Jiang Xu from Huazheng Fund and Dong Li from Xingzheng Global Fund, have also recently stepped down from their managed funds [3][8]. - Dong Li resigned from his position as the manager of Xingquan Light Asset Mixed Fund on January 20, 2026, after having appointed a co-manager just a month prior [8][9]. Group 2: Performance and Background of Resigned Managers - Chen Qiming joined Huafu Fund in 2010 and has held various positions, including Assistant General Manager and Director of Equity Investment. His long-term management of the Huafu Value Growth Mixed Fund has yielded a return of 417.98% since September 26, 2014, significantly outperforming the industry average [7]. - Dong Li, who joined Xingzheng Global Fund in August 2017, was known for managing flagship products with substantial assets, including the Xingquan Trend Investment Mixed Fund, which had an annualized return exceeding 16% [9]. - Jiang Xu, with over 10 years of experience and an annualized return exceeding 10%, has resigned from all nine funds he managed, with reports suggesting he may transition to private equity [9]. Group 3: Industry Trends - The public fund industry has seen a record high in personnel changes, with numerous fund managers, including notable figures like Bao Wuke and Zhou Haidong, leaving their positions in 2025 [10].

Core Viewpoint - The article discusses the speculation surrounding Chen Qiming's potential departure from Huafu Fund, following a series of personnel changes and the company's restructuring efforts [2][4]. Group 1: Personnel Changes - Chen Qiming, a "Double Ten" fund manager with over 10 years of experience and an annualized return exceeding 10%, has been rumored to leave Huafu Fund since late 2025 [2][3]. - On January 17, 2026, Huafu Fund announced changes in fund management, including the appointment of new co-managers for several funds previously managed by Chen Qiming, further fueling speculation about his departure [4][5]. - Chen Qiming resigned as Vice General Manager of Huafu Fund on December 23, 2025, citing "personal reasons," which has led to increased market speculation regarding his future [2][4]. Group 2: Company Restructuring - Huafu Fund has experienced frequent personnel changes since 2025, including the resignation of key executives and adjustments in its internal structure [7][8]. - The company has seen the departure of its chairman and two vice general managers within a year, raising concerns about the stability of its core investment research team [8]. - Huafu Fund's largest shareholder, Huazhong Securities, is planning to increase its stake to gain control, which may influence the company's strategic direction [9]. Group 3: Fund Performance and Management - Chen Qiming managed 10 funds at Huafu Fund, with a peak management scale of nearly 5 billion yuan in Q2 2022, which has since decreased to 1.8 billion yuan by Q3 2025 [5]. - His performance has been notable, with returns of 47.87%, 50.30%, and 16.58% over the past one, two, and three years, respectively, all outperforming the CSI 300 Index [5]. - Huafu Fund has a total of 23 fund managers, with only Chen Qiming and another manager meeting the "Double Ten" criteria, indicating a potential gap in experienced leadership following his departure [5].

Group 1 - The core speculation revolves around the potential departure of Chen Qiming, a senior fund manager at Huafu Fund, following a series of announcements regarding changes in fund management [2][3] - On January 17, 2026, Huafu Fund announced changes in fund managers for several products managed by Chen Qiming, further fueling market speculation about his imminent departure [4] - Chen Qiming has been with Huafu Fund since February 2010, holding various positions, and has recently been promoted to Vice General Manager and Director of Equity Investment [4][5] Group 2 - Huafu Fund has experienced frequent personnel changes and structural adjustments since 2025, including the resignation of key executives and a shift in the board of directors [6] - The company is undergoing a dual transformation in management and ownership, with its largest shareholder, Huazhong Securities, planning to increase its stake to gain control [3][7] - As of the third quarter of 2025, Huafu Fund's total public fund size was approximately 106.21 billion yuan, with a significant portion in bond and money market funds [7] Group 3 - Chen Qiming's management performance has been notable, with returns of 47.87%, 50.30%, and 16.58% over the past one, two, and three years, respectively, significantly outperforming the CSI 300 index [5] - The recent changes in fund management, including the appointment of new co-managers, suggest a strategy for a smooth transition in investment management [4][5] - Huafu Fund's financial performance has been under pressure, with a decline in revenue and net profit in 2024 compared to the previous year [7][8]