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知名基金经理持续出走,宝盈基金为何留不住猛将?
Mei Ri Jing Ji Xin Wen· 2025-09-14 13:36
Core Insights - The departure of Yang Siliang from Baoying Fund to Yifangda Fund highlights the ongoing talent migration within the asset management industry, particularly affecting mid-sized firms like Baoying Fund [1][2] - Baoying Fund, known as the "Huangpu Military Academy" of public funds, has produced numerous successful fund managers over the years, but faces challenges in retaining talent due to competitive pressures from larger firms [1][3] Talent Migration - Yang Siliang joined Baoying Fund in April 2015 and became a prominent fund manager, achieving significant returns on multiple funds, including a 156.84% return on Baoying Consumer Theme Fund [2] - His exit is part of a broader trend where Baoying Fund has seen 17 fund managers leave since 2019, with many moving to leading firms, indicating a systemic issue in talent retention [5][6] Internal Challenges - Baoying Fund's internal mechanisms, particularly its incentive structures, are cited as key factors contributing to talent loss, with reports suggesting inadequate compensation for high-performing managers [4][7] - The firm has struggled with a "cultivation-loss" cycle, where talented individuals are developed but subsequently leave for better opportunities [4][5] Management Scale and Performance - Baoying Fund's management scale has fluctuated significantly, peaking at nearly 800 billion yuan shortly after its establishment but dropping to around 732.93 billion yuan by mid-2025, reflecting the impact of talent loss on its operational capacity [6][8] - The firm’s ranking has also declined, falling to 73rd in the industry, contrasting sharply with the rapid growth of larger competitors [6][9] Industry Context - The asset management industry is experiencing a "Matthew Effect," where larger firms are increasingly dominating the market, making it difficult for mid-sized firms like Baoying Fund to compete for talent and resources [9][10] - The rise of alternative investment firms has diversified career options for fund managers, further complicating retention efforts for mid-sized public funds [9][10] Potential Solutions - Some firms are exploring innovative strategies to retain talent, such as implementing profit-sharing models and enhancing team autonomy, which could serve as a model for Baoying Fund and similar companies [10] - Focusing on niche markets or specialized investment strategies may also help mid-sized firms attract and retain talent by creating unique value propositions [10]
知名基金经理持续出走 宝盈基金为什么留不住猛将?
Mei Ri Jing Ji Xin Wen· 2025-09-12 02:37
Core Viewpoint - The recent departure of Yang Siliang, a prominent fund manager from Baoying Fund, to Yifangda Fund highlights the ongoing talent migration within the asset management industry, raising concerns about Baoying Fund's ability to retain its skilled professionals amidst increasing competition from larger firms [1][5][17]. Group 1: Talent Movement - Yang Siliang left Baoying Fund in late August and joined Yifangda Fund, marking a significant shift in the competitive landscape of fund management [1][3]. - Baoying Fund, known as the "Huangpu Military Academy" of Shenzhen public funds, has seen many of its talented managers, including Yang, move to other firms, reflecting a broader trend of talent outflow in the industry [1][6][18]. - From 2019 to September 2023, Baoying Fund experienced the departure of 17 fund managers, with 70% having over five years of experience, indicating a systemic issue in talent retention [7][14]. Group 2: Performance and Impact - Yang Siliang was recognized for his strong performance, managing over 10 billion yuan in assets and achieving notable returns on his funds, such as a 156.84% return on Baoying Consumer Theme Fund [4][5]. - The loss of high-performing managers like Yang is a significant setback for Baoying Fund, which has historically produced many successful fund managers [5][11]. - Baoying Fund's management scale has fluctuated, dropping from nearly 800 billion yuan to around 732.93 billion yuan, reflecting the impact of talent loss on its overall performance [11][14]. Group 3: Internal Challenges - Baoying Fund's internal mechanisms, including insufficient incentive structures and limited resources, contribute to its challenges in retaining talent [16][17]. - The firm has struggled with a talent gap, as half of its current fund managers have less than three years of experience, raising concerns about the continuity of its investment strategies [14][15]. - The disparity in compensation and resources between Baoying Fund and larger firms exacerbates the difficulty in retaining skilled professionals [16][17]. Group 4: Industry Trends - The asset management industry is experiencing a "Matthew Effect," where larger firms are increasingly dominating the market, making it difficult for smaller firms like Baoying Fund to compete for talent [17][18]. - The trend of talent migration is further fueled by the emergence of private equity and other financial institutions, which offer more attractive career opportunities for fund managers [17][18]. - The competition for talent in the public fund industry is intensifying, with larger firms focusing on team building rather than individual star managers, creating a challenging environment for smaller firms [18].
昔日百亿基金经理卸任多只产品!业绩欠佳背后藏何隐情?
Sou Hu Cai Jing· 2025-08-07 06:32
Core Viewpoint - The recent resignation of star fund manager Yang Siliang from multiple funds at Baoying Fund highlights significant changes in the management structure and raises questions about the future performance of the affected funds [2][3][4]. Group 1: Fund Manager Resignation - Yang Siliang has resigned from the management of four funds: Baoying New Value, Baoying Quality Selection, Baoying Enhanced Income, and Baoying Advantage Industry, due to internal adjustments [2][3]. - Following his resignation, the management of these funds has been reassigned to other managers, with a focus on maintaining investment strategy continuity [3][4]. - Yang Siliang's current management count has decreased to three funds, with a total management scale of only 709 million yuan [2][7]. Group 2: Fund Performance - The funds managed by Yang Siliang have shown poor performance this year, with year-to-date returns of -2.4%, -2.73%, -0.71%, and -2.56% for the respective funds, placing them in the lower half of their peer rankings [4][7]. - Despite positive returns during his tenure, the recent performance has been attributed to market volatility and sector shifts, particularly in the consumer industry [7][9]. - The top holdings of the remaining funds include major liquor companies, which have faced challenges this year, with the liquor index down by 8.4% [8][9]. Group 3: Management Scale and Investor Sentiment - Yang Siliang's management scale has significantly decreased, with a drop from over 10 billion yuan to 709 million yuan, influenced by market fluctuations and investor behavior [6][7]. - Baoying Fund has indicated that they are enhancing research support and optimizing client services to maintain investor confidence and mitigate redemption impacts [6][9].