Group 1 - An announcement from Anxin Fund on July 17 revealed changes in fund managers, with notable manager Zhang Yifei stepping down from 9 funds due to personal reasons [2][3] - Zhang Yifei managed a total asset net value of 32.192 billion yuan across the 9 funds as of the end of the first quarter, with the largest being Anxin Stable Growth Mixed Fund at approximately 11.434 billion yuan [3] - The Anxin Stable Growth Mixed Fund, managed by Zhang Yifei since 2015, has seen a unit net value growth of 82.46% since its inception, with a 1-year growth of 5.69% as of July 16, 2025 [3] Group 2 - Fund manager Huang Wanshu took over the Anxin Enjoy Pure Bond Fund from Li Jun, which had an asset net value of approximately 1.949 billion yuan at the end of the first quarter, with 99.96% of the fund held by a single institution [4] - The Anxin Enjoy Pure Bond Fund has recorded a unit net value growth of 34.57% since its inception in September 2016, with a 1-year growth of 2.68% as of July 16, 2025 [5] Group 3 - Li Jun also stepped down from the Anxin Stable Gain 6-Month Holding Mixed Fund, which is now co-managed by Liang Bingzhe and Ma Xiaodong; this fund has seen a unit net value growth of 4.65% since its inception in July 2023, underperforming its benchmark by 0.5 percentage points [6]

Core Viewpoint - The departure of several high-performing fund managers from public funds poses a significant challenge for the industry, as these managers are valuable assets that have been cultivated over many years [2][3][4]. Group 1: Departure of High-Performing Fund Managers - Multiple veteran fund managers with over 10 years of experience and impressive annualized returns have left their positions this year, creating a talent drain in the public fund sector [2][3]. - Notable departures include Zhang Yifei from Anxin Fund, who managed over 30 billion yuan in assets, and Bao Wuke from Invesco Great Wall Fund, both of whom had strong performance records [3][4]. - Other prominent fund managers such as Zhou Haidong, Li Xin, and Cao Mingchang have also announced their resignations this year, all of whom had managed funds exceeding 10 billion yuan [4]. Group 2: Reasons for Departure - Many departing fund managers are choosing to transition to private asset management firms or other competitive fund companies, indicating a shift towards more market-oriented opportunities [5][6]. - The recent wave of departures is attributed to personal career development plans and broader industry changes, including fee and compensation reforms, as well as a move away from the "star manager" model [6]. Group 3: Industry Response and Future Strategies - The industry is shifting focus from individual star managers to a more integrated, platform-based investment research system, emphasizing team collaboration and diversified strategies [7][8]. - Fund companies are increasingly promoting younger talent and launching new funds to provide opportunities for emerging managers, aiming to build a robust talent foundation [8]. - The establishment of a comprehensive evaluation system for investment research capabilities is being emphasized to enhance the overall effectiveness of fund management teams [7].

Core Insights - The departure of Zhang Yifei, the Chief Investment Officer of mixed assets at Anxin Fund, has caused significant ripples in the public fund industry, highlighting the rapid evolution within the sector [3][8] - Zhang managed a total of 9 products with an aggregate scale of 32.51% of the company's public fund assets at the time of his departure [3][8] - His tenure at Anxin Fund spanned 13 years, during which he established a reputation for achieving absolute returns, with a notable return of 82.81% since May 2015 for the Anxin Stable Growth Mixed Fund [6][8] Fund Management Changes - Zhang Yifei's resignation was due to personal reasons, effective July 15, 2025, and he has been succeeded by core members of the mixed asset team, Li Jun and Huang Wanshu [5][11] - Li Jun will manage the Anxin Stable Growth Fund, which has over 100 billion yuan in assets, while Huang Wanshu will oversee other products [11] - The transition is critical as Zhang's managed assets accounted for 37.53% of Anxin Fund's non-monetary fund scale, amidst a decline in the company's overall fund size [8][11] Performance and Legacy - Zhang Yifei's management style focused on absolute returns, setting industry benchmarks with consistent positive returns over nine years [6][8] - The Anxin Stable Growth Mixed Fund achieved a remarkable annualized return of 6.12% and ranked 71 out of 457 in terms of drawdown [7] - The future of the "fixed income +" strategy at Anxin Fund is under scrutiny as the new managers aim to maintain the established investment philosophy [11][12] Future Outlook - Zhang Yifei plans to continue his career in asset management, potentially moving towards private fund management, aligning with recent trends among other public fund leaders [12] - The overall public fund management scale of Anxin Fund has decreased from the "trillion club," with a reported scale of 99.11 billion yuan in Q2 2025 [8][11]

Group 1 - Multiple fund companies announced changes in fund managers, with over 100 funds changing managers in July alone, and 8 fund companies experiencing executive changes [1][2] - Zhang Yifei's departure from Anxin Fund attracted significant market attention, as he managed products totaling over 30 billion yuan before leaving [1][2] - The mixed fund managed by Zhang Yifei, Anxin Stable Growth Mixed Fund, has been co-managed with Li Jun since the end of 2017 and has achieved good performance in multiple years [2] Group 2 - Several public fund companies, including Morgan Fund, Mingya Fund, and others, have seen executive changes in July, indicating a trend of high-level personnel shifts in the industry [1][3] - Mingya Fund appointed Wang Jing as the new general manager, while the previous general manager and deputy general manager left for personal reasons [3] - The frequent changes in executives are often attributed to the completion of terms, which can impact the company's business direction and shareholder strategies [3][4] Group 3 - The industry is facing challenges in retaining competitive talent, with companies exploring various methods, including management positions and internal training systems, to keep skilled fund managers [4][5] - Establishing a talent pipeline is crucial for public fund companies to ensure smooth transitions after core members leave, emphasizing the importance of a well-structured team [4] - Fund managers consider the research and investment atmosphere, team trust, and respect from the company as significant factors in their decision to stay or leave [5]

| 基金名称 | 安信稳健增值灵活配置混合型证券投资基金 | | --- | --- | | 基金简称 | 安信稳健增值混合 | | 基金主代码 | 001316 | | 基金管理人名称 | 安信基金管理有限责任公司 | | 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 | | 基金经理变更类型 | 解聘基金经理 | | 共同管理本基金的其他基 | 李君 | | 金经理姓名 | | | 离任基金经理姓名 | 张翼飞 | 【导读】安信基金经理张翼飞离职， 或将奔私 中国基金报记者 方丽 陆慧婧 又一名固收大将作别公募基金行业。 7月17日，安信基金一口气挂出12只基金的基金经理变更公告，其中，有9只基金涉及知名基金经理张翼飞。 从公告内容看，张翼飞因个人原因离职，当日卸任所管的全部9只基金的基金经理职务。据了解，张翼飞离任主要是出于个人职业发展规划 的考虑，下一站可能选择"奔私"。 安信基金原混合资产团队核心成员将继续留在安信基金，并按照原有的产品定位与策略接任管理。 安信基金经理张翼飞离职 7月17日，安信基金发布多份基金经理变更公告，其中，最受关注的是 ...