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翟相栋50.26%收益领跑百亿权益基金自购榜,萧楠自购易方达消费行业股票超百万份,近一年收益-1.67%
Xin Lang Ji Jin· 2025-07-14 13:54
Group 1 - The core observation from the 2024 fund annual report indicates that over half of fund managers do not hold shares in their own funds, with only 7% holding over one million shares, highlighting a significant disparity in self-purchase behavior across fund types and companies [1][2] - Mixed funds are the primary drivers of self-purchase activity, boasting a self-purchase rate of 57.03%, which is significantly higher than that of equity and bond funds [1][2] - Alternative investment funds lead with a self-purchase rate of 60.87%, while convertible bond funds also show a strong self-purchase rate of 56.82%, indicating a deep commitment from fund managers to niche products [2] Group 2 - Among fund companies, Southern Fund ranks first with a self-purchase rate of 51.72%, followed by E Fund at 48.05%, which has the highest number of funds with over one million self-purchases [2] - In contrast, Huaxia Fund shows a stark difference with only 18.06% self-purchase rate and just 24 out of 454 funds achieving over one million self-purchases, indicating a lack of confidence compared to industry leaders [2] - Notable fund managers such as Zhang Kun, Xie Zhiyu, Zhao Yi, and Liu Xu hold over one million shares in their own funds, reflecting a strong alignment with their fund performance [2][4] Group 3 - Zhang Kun, managing over 60.8 billion yuan, demonstrates commitment to value investing despite his funds' returns being below the industry average, with both his funds achieving over one million self-purchases [4] - Xie Zhiyu showcases confidence through self-purchases in two funds that have performed well, with returns of 31.07% and 17.39% respectively, further emphasizing the trend of self-purchase among top managers [4] - The "three-year lock-up" strategy is exemplified by fund managers Zhao Feng and Zhao Yi, who have linked their self-purchases to long-term investment principles, achieving returns of 20.02% and 19.40% respectively [5] Group 4 - The phenomenon of over 54% of fund managers opting for zero self-purchases contrasts sharply with the trend among top managers who hold over one million shares, indicating a shift towards a "risk-sharing contract" model [5] - Large self-purchases create a mechanism that binds the interests of fund managers and investors, effectively establishing a trust signal in a market characterized by diminishing returns [5]
张坤卸任易方达副总
21世纪经济报道· 2025-05-16 14:49
Core Viewpoint - The article discusses the recent management changes at E Fund, highlighting the trend of star fund managers stepping down from executive roles to focus on investment management, with Zhang Kun being a prominent example [1][2][3]. Group 1: Management Changes - On May 16, E Fund announced that Zhang Kun would no longer serve as Deputy General Manager and would concentrate on investment management, continuing his role as a fund manager [1]. - This follows a previous adjustment in the management team where other star fund managers, Chen Hao and Xiao Nan, also stepped down from executive positions to focus on investment [2][3]. - The trend indicates a shift in the industry where many fund managers are opting to relinquish management duties to dedicate more time to fund management [4]. Group 2: Zhang Kun's Investment Philosophy - Zhang Kun has been with E Fund since graduating from Tsinghua University in 2008, focusing on deep research and value discovery to achieve long-term stable excess returns [7]. - His investment style emphasizes high-quality value, prioritizing companies with strong competitive advantages and sustainable growth, while maintaining a focus on safety margins [7][8]. - Zhang Kun's commitment to long-term investments is evident in his portfolio, where he has consistently held stocks with strong fundamentals over multiple quarters [8]. Group 3: Performance Metrics - As of March 31, 2025, Zhang Kun managed a total fund size of 608 billion yuan, making him the largest active equity fund manager in China [1]. - His cumulative return since becoming a fund manager in September 2012 is 298.80%, with an annualized return of 11.69%, significantly outperforming the CSI 300 Index during the same period [9]. - Specific funds managed by Zhang Kun, such as E Fund Quality Selection Mixed and E Fund Asian Selection Stock, have shown cumulative returns of 425.50% and 374.40%, respectively, since his tenure, far exceeding their respective benchmarks [9].
张坤,重要变动!
Hua Er Jie Jian Wen· 2025-05-16 12:01
Core Viewpoint - Zhang Kun, a prominent fund manager at E Fund, has stepped down from his position as Deputy General Manager to focus on investment management, continuing his role as a fund manager to create long-term sustainable returns for investors [1][2]. Group 1: Zhang Kun's Background and Investment Philosophy - Zhang Kun has been with E Fund since graduating from Tsinghua University in 2008, accumulating nearly 17 years of experience in investment research [1]. - His investment style emphasizes high-quality value, focusing on companies with strong competitive advantages, business models, and the ability to generate free cash flow [1]. - He aims to invest in companies with a strong margin of safety and growth certainty, holding them for the long term to share in their performance growth [1]. Group 2: Recent Performance and Achievements - Since becoming a fund manager in September 2012, Zhang Kun has achieved a cumulative return of 298.80% and an annualized return of 11.69% as of March 31, 2025, significantly outperforming the CSI 300 Index during the same period [2]. - The three funds managed by Zhang Kun for over five years have all outperformed their respective benchmarks, with cumulative returns of 425.50%, 37.40%, and 89.26% for E Fund Quality Selection Mixed, E Fund Asia Selection Stock, and E Fund Blue Chip Selection Mixed, respectively [2]. Group 3: Management Changes at E Fund - In March, E Fund announced the departure of other senior management personnel, Chen Hao and Xiao Nan, who will also focus on investment management [2]. - Currently, E Fund still has several fund managers holding the position of Deputy General Manager, including Feng Bo, Zhang Qinghua, and Hu Jian [3].