Core Viewpoint - The recent mass resignation of bond fund managers at Bosera Fund highlights increasing instability within the company's fixed income team, raising concerns about its overall strength and performance in the public fund industry [1][4]. Group 1: Manager Resignation Details - He Ping has completed a "clearance" of all nine products under management within half a month, resigning from three long-term pure bond products on August 14 and previously from two products on July 25 and four on July 31 [1][2]. - As of the end of Q2, He Ping managed a total of 33.701 billion yuan across nine products, marking a significant transition in the management of these funds [1][2]. - Following He Ping's departure, several other managers, including Wan Zhiwen, have also left Bosera Fund this year, indicating a trend of high turnover among bond fund managers [1][3]. Group 2: Industry Trends - The public fund industry has seen a notable increase in the turnover of bond fund managers, with over 1,470 products changing managers this year, of which more than 40% are bond funds [5][6]. - The trend of high turnover is not unique to this year, as similar patterns were observed in 2023 and are expected to continue into 2024 [6]. - The high turnover rate among bond fund managers is attributed to the large scale and similar strategies of bond funds, which often lead to multiple products being transferred when a manager departs [6]. Group 3: Company Performance - As of the end of Q2, Bosera Fund's total public asset management scale reached 1.08 trillion yuan, reflecting a growth of 54.212 billion yuan from the previous quarter [3]. - The asset management scale of Bosera Fund's bond funds was reported at 419.65 billion yuan, indicating its significant presence in the fixed income market [3].