Core Viewpoint - The public fund investment research system is undergoing significant changes, with veteran fund managers stepping back to focus on management and strategic planning, while new talent is emerging to take on more responsibilities in fund management [1][4]. Group 1: Veteran Fund Managers Transitioning - Veteran fund managers like Feng Bo and Liu Ming are stepping down from their fund management roles to concentrate on company management and investment strategy [2][3]. - Feng Bo, previously a highly sought-after manager, has resigned from managing multiple funds, while still holding senior management positions at E Fund [2]. - Liu Ming, who has a long history in fund management, has also transitioned to a management role at Dongfang Alpha Fund after resigning from his fund management duties [2]. Group 2: Emergence of New Talent - New fund managers are stepping up to fill the roles left by veterans, with individuals like Ouyang Liangqi and Wu Qiusheng taking over management of significant funds [4]. - The number of new fund managers has increased significantly this year, with over a hundred new hires and several researchers promoted to fund manager positions [4][5]. - The trend indicates a growing emphasis on nurturing new talent within the industry, supported by policy guidance [5][6]. Group 3: Restructuring of Investment Research Models - The transition of veteran managers to management roles and the rise of new talent reflects a restructuring of the public fund investment research model [6]. - The China Securities Regulatory Commission has introduced initiatives to enhance the investment research capabilities of fund companies, promoting a more integrated and team-based approach [6]. - Companies are focusing on building a sustainable investment research system that emphasizes collaboration, specialization, and the use of technology to improve efficiency [6].

图1：基金经理时间线 图2：基金经理最近一年风险回报 2025年4月12日易方达行业领先混合基金公告， 原基金经理冯波先生因工作需要，卸任该基金的管理 职务，管理职责交接给基金经理彭珂先生。此外冯波先生还卸任了他所管理的易方达中盘成长混合 基金，并继续管理易方达研究精选股票基金、易方达竞争优势企业混合基金。 冯波先生具备23年的证券投资经验以及15年的投资经验，是易方达基金从研究员培养起来的经验丰 富的投资老将。他在管理行业领先混合上的所采用的成长投资策略注重基本面分析，通过中观行业 研究及自下而上研究精选个股，把握高质量股票的中长期投资机会，策略在投资组合层面得到稳定 执行。易方达行业领先混合基金在冯波先生长达15年的管理期取得了晨星同类排名26%的出色回 报，但近五年因基金经理的质量成长风格遭遇市场逆风，该基金最近五年的业绩表现回落到晨星同 类基金的偏低水平。 接任的基金经理彭珂先生拥有11年证券从业经验，他于2017年2月加入易方达基金，曾任行业研究员 和投资经理，当前管理该基金只有6天。彭珂先生管理两只基金，除了该基金外，彭珂先生还管理易 方达科益混合基金，科益基金在彭珂先生接管以来一年多期间，业绩回 ...