天弘基金"固收一姐"姜晓丽卸任旗下全部在管产品的消息，引发市场高度关注。 这位在天弘深耕16年、执掌固收+投资超13年的资深基金经理，正式移交其所管理的10只基金，合计规模达350.24亿元。她 在致投资者的公开信中坦言，自2009年入行以来从未休过长假，此次离任是想彻底给自己放个假。 当前，中低风险偏好投资者对优质固收+产品的配置需求依然旺盛，姜晓丽离任后，不少持有人纷纷寻找风格与业绩兼具的 替代人选。 据Choice数据统计，在近五年管理规模超100亿元的固收+基金经理中，剔除任职不满5年的选手后，区间收益排名前十的门 槛已升至30%，其中有两位基金经理近五年偏债混合型基金收益突破60%。而承接姜晓丽管理产品的核心人选，正是其中 之一。 | | | 近五年固收+基金经理收益TOP10 | | | | --- | --- | --- | --- | --- | | 余经理名称 | 基金经理年限 | 近5年区间收益 基金经理类型 偏债 | | 年职基金总规模 [单位]乙元 | | | | [单位]% | | | | | 6.25 | 67.63 | 天弘基金 | 294.93 | | EV4 E | 5.33 ...

Group 1 - Renowned fixed income fund manager Jiang Xiaoli has left Tianhong Fund, shocking many in the industry [2][4] - Jiang joined Tianhong Fund in 2009 and has been a key figure in the fixed income sector for 16 years, managing up to 10 funds with a total scale of 35 billion yuan before her departure [2][3] - Her flagship fund, Tianhong Yongli Bond, achieved positive returns in 11 out of 13 years, with a cumulative return exceeding 114% [3][40] Group 2 - Jiang Xiaoli's departure is seen as a significant loss for Tianhong Fund, given her expertise in managing fixed income and fixed income plus products [7][43] - The fixed income plus business at Tianhong Fund operates under a multi-manager model, which is expected to mitigate risks associated with her departure [8][44] - The announcement of her leaving was made on February 9, with indications that she sought a break after years of intense work [12][48] Group 3 - Jiang Xiaoli's next career move is anticipated to be within the fund industry, with speculation about her joining E Fund, a leading fixed income plus management institution [21][57] - There are also rumors that she may consider starting a private equity fund [61] - Jiang holds approximately 0.4% of Tianhong Fund's shares through an employee stock ownership plan, indicating her significant stake in the company [62][66] Group 4 - Tianhong Fund has demonstrated strong financial performance, with cumulative revenue of 684.2 billion yuan and net profit of 196.87 billion yuan over the past decade [68] - The fund has maintained a high dividend payout rate, averaging 41.5% over the years, with significant distributions in recent years [68][69] - The fund's ability to generate substantial profits and dividends has been a key factor in its attractiveness to talent [66][68]

长期稳健的业绩、数百亿管理规模，曾是姜晓丽旗下债券基金最耀眼的光环。然而与此形成反差的是， 其管理规模在过去几年内大幅收缩，其中天弘永利债券规模由高峰期的近400亿元缩水至185亿元，其个 人管理总规模也由2022年高峰期的781.94亿元回落过半，离职前管理规模为350亿元左右。 来源 | 独角金融 作者 | 刘银平编辑 | 付影 在即将到来的春节前夕，2月9日，天弘基金发布一纸卸任公告，为固收"顶梁柱"姜晓丽长达16年的坚守 画下句号。姜晓丽在清仓式卸任全部10只基金后，正式离场。 作为公司任职时间最长的基金经理，姜晓丽自2009年毕业后便扎根天弘基金，从研究员到曾掌管超700 亿资金的明星舵手，其职业生涯几乎与公司固收业务的崛起同步。 在她转身之前，天弘固收的"新局"早已布下。2025年5月，招商基金原明星基金经理、管理规模曾一度 逼近900亿元的马龙空降天弘基金，出任总经理助理兼固收部总经理，成为公司固收业务的新领军人 物。 正当市场期待这一对固收名将组成黄金搭档时，姜晓丽却称自己需要"休个长假"，至此，天弘基金固收 团队正在翻开新的一页。 1 350亿固收名将告别，16年风雨同行 陪伴是最长情的告白 ...

姜晓丽致信投资者 该公司也同步公布了姜晓丽辞职后，给投资者写的一封信。 信中，姜晓丽表示，从2012年开始担任天弘永利的基金经理以来，已经过去了14个年头。她表示，公募 基金面向大众募资，管理的资金里既有老人的养老钱，也有上班族节省下来的工资，基金经理的受托责 任在她眼里是厚重的，他们始终珍视客户的每一分钱，尽最大努力、兢兢业业。从结果来看，基本实现 了这个目标，也算交出了一份合格的答卷。 2月9日，天弘基金发布"致天弘固收+投资者的一封信"，宣布基金经理姜晓丽因个人原因卸任其所管理 的全部公募基金产品。 该公司公告称，姜晓丽因个人原因，希望阶段性休整并更多兼顾家庭，已向公司提出离职申请。公司尊 重其个人决定，并对她长期以来的专业贡献表示衷心感谢。公司完备的投研体系和人才储备，能够保障 相关产品持续稳健运作。 据央广网报道，公开资料显示，姜晓丽拥有16年证券从业经验，自2009年7月至2011年2月曾在天弘基金 担任债券研究员和债券交易员。2011年3月至2011年7月，姜晓丽在光大永明人寿担任债券交易员兼研究 员。2011年8月，姜晓丽回到天弘基金，历任固定收益研究员、基金经理助理、宏观研究部部门总经理 等 ...

近日，天弘基金发布"致天弘固收+投资者的一封信"，宣布基金经理姜晓丽因个人原因卸任其所管理的 全部公募基金产品。 该公司公告称，姜晓丽女士因个人原因，希望阶段性休整并更多兼顾家庭，已向公司提出离职申请。公 司尊重其个人决定，并对她长期以来的专业贡献表示衷心感谢。公司完备的投研体系和人才储备，能够 保障相关产品持续稳健运作。 编辑 | 刘 珂 审读 | 黄明钢 二审 | 蔡志军 该公司同步也公布了姜晓丽辞职后，给投资者写的一封信。 信中，姜晓丽表示，从2012年开始担任天弘永利的基金经理以来，已经过去了14个年头。她表示，公募 基金面向大众募资，管理的资金里既有老人的养老钱，也有上班族节省下来的工资，基金经理的受托责 任在她眼里是厚重的，他们始终珍视客户的每一分钱，尽最大努力、兢兢业业。从结果来看，基本实现 了这个目标，也算交出了一份合格的答卷。 她在信中写道，"多年来，紧张的投研工作和管理工作占用了我几乎全部的时间，几乎没有时间顾及家 庭，也没有时间顾及自己的身体。我常常感慨，自从2009年工作以后，从来没有休过长假，什么时候我 也能休一个寒暑假呢？随着时间推移，想要休息的愿望愈发强烈，经过慎重思考，我决定离 ...

2月9日，天弘基金发布"致天弘固收+投资者的一封信"，宣布基金经理姜晓丽因个人原因卸任其所管理 的全部公募基金产品。 该公司公告称，姜晓丽女士因个人原因，希望阶段性休整并更多兼顾家庭，已向公司提出离职申请。公 司尊重其个人决定，并对她长期以来的专业贡献表示衷心感谢。公司完备的投研体系和人才储备，能够 保障相关产品持续稳健运作。 审签：李铁流 据报道，公开资料显示，姜晓丽拥有16年证券从业经验，自2009年7月至2011年2月曾在天弘基金担任债 券研究员和债券交易员。2011年3月至2011年7月，姜晓丽在光大永明人寿担任债券交易员兼研究员。 2011年8月，姜晓丽回到天弘基金，历任固定收益研究员、基金经理助理、宏观研究部部门总经理等。 截至2月9日离任时，姜晓丽共管理10只基金，合计规模达到350亿元。Wind数据显示，姜晓丽此次卸任 的10只基金其任职回报均为正，管理时间较久的天弘永利债券、天弘安康颐养任职回报均超过100%。 她在信中写到，"多年来，紧张的投研工作和管理工作占用了我几乎全部的时间，几乎没有时间顾及家 庭，也没有时间顾及自己的身体。我常常感慨，自从2009年工作以后，从来没有休过长假，什么时 ...

2月9日，天弘基金发布"致天弘固收+投资者的一封信"，宣布基金经理姜晓丽因个人原因卸任其所管理 的全部公募基金产品。 姜晓丽致信投资者 该公司同步也公布了姜晓丽辞职后，给投资者写的一封信。 信中，姜晓丽表示，从2012年开始担任天弘永利的基金经理以来，已经过去了14个年头。她表示，公募 基金面向大众募资，管理的资金里既有老人的养老钱，也有上班族节省下来的工资，基金经理的受托责 任在她眼里是厚重的，他们始终珍视客户的每一分钱，尽最大努力、兢兢业业。从结果来看，基本实现 了这个目标，也算交出了一份合格的答卷。 她在信中写到，"多年来，紧张的投研工作和管理工作占用了我几乎全部的时间，几乎没有时间顾及家 庭，也没有时间顾及自己的身体。我常常感慨，自从2009年工作以后，从来没有休过长假，什么时候我 也能休一个寒暑假呢？随着时间推移，想要休息的愿望愈发强烈，经过慎重思考，我决定离开，彻底给 自己放个假。希望能调整自己的状态，以更好的状态迎接下一个人生阶段。" 该公司公告称，姜晓丽女士因个人原因，希望阶段性休整并更多兼顾家庭，已向公司提出离职申请。公 司尊重其个人决定，并对她长期以来的专业贡献表示衷心感谢。公司完备的投研 ...

Core Viewpoint - The resignation of Jiang Xiaoli from Tianhong Fund's management of multiple public funds is primarily due to personal reasons, including a desire for a break and to focus on family [1][2] Group 1: Fund Management Changes - Jiang Xiaoli managed a total of 41 funds, with 10 products under her management before her departure, totaling over 35 billion yuan in assets [2] - Following her resignation, Tianhong Fund has appointed Du Guang and Zhang Yu to co-manage Tianhong Yongli Bond Fund, while Zhang Yu will manage Tianhong Enhanced Return Fund alone [5][6] Group 2: Performance and Strategy - Jiang Xiaoli emphasized an investment philosophy focused on absolute returns and asset preservation, adapting investment frameworks to changing political and economic landscapes [5] - Under her management, Tianhong Yongli Bond Fund achieved a cumulative return of 167.12% over nearly 18 years, surpassing its benchmark by 60.85% [5] Group 3: Industry Trends - The trend of fund manager resignations is increasing, with 484 managers leaving the industry in 2025, resulting in an 11.76% turnover rate, higher than previous years [6] - As of the end of 2025, Tianhong Fund managed a total of 1.33 trillion yuan in public funds, with significant portions in money market funds and bond funds [6]

Group 1 - The core point of the news is the resignation of Jiang Xiaoli, a prominent fund manager at Tianhong Fund, who has decided to take a long break after 17 years of continuous work without a long vacation [1][5][6] - Jiang Xiaoli's departure affects multiple funds she managed, including Tianhong Yongli Bond and Tianhong Ankang Yiyang, with her resignation effective from February 9 [2][5] - Jiang Xiaoli reassured investors that her successors are experienced fund managers who have worked together for many years, and Tianhong Fund will continue to follow established investment goals and processes [5][6] Group 2 - During her tenure, Jiang Xiaoli managed funds with a total scale exceeding 700 billion yuan at the end of 2021 to the first half of 2022, and the 10 products she is resigning from have a total scale of approximately 350.24 billion yuan by the end of 2025 [6] - Tianhong Fund, established in 2004, is a national public fund management company approved by the China Securities Regulatory Commission, known for its collaboration with Alipay to launch Yu'ebao [6] - As of the end of 2025, Tianhong Fund's total public management scale is projected to reach 1.25 trillion yuan, with non-cash management scale growing over 42% in two years to 426.53 billion yuan [6]

Core Viewpoint - The sudden resignation of Jiang Xiaoli, a prominent fund manager at Tianhong Fund, raises questions about the future management and performance of the funds she oversaw, particularly in the fixed income sector [4][7]. Group 1: Jiang Xiaoli's Departure - Jiang Xiaoli announced her resignation on February 9, managing a total of 350.24 billion yuan across 10 funds, citing personal reasons and the need for a break to focus on family and health [4][5]. - She has a long history in the industry, having worked at Tianhong Fund since 2009, with significant roles including fixed income business director and manager of multiple funds [4][5]. Group 2: Impact on Fund Management - Following Jiang's departure, Tianhong Fund stated that the investment strategies and risk-return characteristics of the "fixed income+" products will remain unchanged, with the existing fund managers continuing to adhere to established investment processes and risk control standards [7]. - The firm employs a multi-manager model for its fixed income business, which is expected to maintain consistency in investment decisions despite the leadership change [7]. Group 3: Fund Performance and Challenges - As of February 9, the performance of the funds managed by the new manager, Ma Long, has been underwhelming, with returns of 0.41% and 0.25% for two bond funds since his appointment [7]. - Tianhong Fund's total public fund scale reached 1.33 trillion yuan by the end of 2025, with a significant portion in money market funds, indicating a heavy reliance on fixed income products and a lack of growth in equity funds [8]. - The firm faces challenges in its equity fund segment, with many funds underperforming and a notable decline in its ranking within the industry for non-money market fund management [9].