Core Viewpoint - The departure of Bao Wuke, a prominent fund manager at Invesco Great Wall Fund Management, raises questions about the future performance of the funds he managed and the potential for the emergence of new star fund managers within the company [2][3][5]. Group 1: Fund Manager Departure - Bao Wuke resigned from all products managed at Invesco Great Wall, confirming market speculations from April 2023 [2][5]. - His managed products achieved an annualized return of 15.29%, with notable performance over the past two and three years at 15.54% and 42.12%, respectively [2][3]. - The company has seen a peak fund size of 615.15 billion yuan, although it experienced a decline in 2022 and 2023 before recovering in 2024 [2][18]. Group 2: Fund Performance and Management Transition - Following Bao's departure, the company appointed four experienced fund managers to take over his products, all of whom have over 15 years of investment experience [12][17]. - The funds managed by Bao Wuke have seen a significant decline in size, dropping from a peak of 271.86 billion yuan to 162.07 billion yuan, a decrease of 40.38% [9][10]. - The new fund managers include Liu Su, Zhang Zhongwei, Zou Lihu, and Wang Yong, each with distinct investment styles and backgrounds [14][15][17]. Group 3: Market Context and Future Outlook - The overall equity market has faced a downturn, impacting the performance of Invesco Great Wall's equity funds, which have seen substantial losses [2][21]. - The company aims to stabilize investor confidence through effective communication and by ensuring continuity in investment strategies during the transition to new fund managers [8][9]. - The future performance of the funds will depend on the new managers' ability to maintain or improve upon the previous performance levels established by Bao Wuke [7][12].

Core Viewpoint - The departure of Bao Wuke, a prominent value investment figure and core fund manager at Invesco Great Wall Fund, raises concerns about the stability of the investment strategy and team continuity within the company [1][4]. Company Summary - Bao Wuke officially left Invesco Great Wall Fund on May 16, 2023, after nearly 11 years with the firm, where he served as the Executive Director of the Equity Investment Department [1]. - Before his departure, Bao managed a total of 16.207 billion yuan across multiple funds, including several star products [1]. - His investment performance has been exemplary, with notable returns such as 374.75% for the Invesco Great Wall Energy Infrastructure Mixed Fund and 185.82% for the Invesco Great Wall Hong Kong-Shanghai Select Fund [3]. Industry Summary - The departure of Bao Wuke is part of a broader trend, with 135 fund managers having left their positions in the industry this year, indicating increased talent mobility [4]. - The industry faces challenges in maintaining investment strategy continuity and team cohesion following the exit of senior fund managers [4]. - The evolving talent landscape in the fund industry presents both challenges and opportunities, necessitating firms to attract and retain skilled professionals to adapt to market changes [4][5].

Core Viewpoint - The departure of Bao Wuke, a prominent value investment figure and fund manager at Invesco Great Wall Fund, has raised significant attention in the industry, as he officially left on May 16, 2023, affecting eight funds he managed [1][3][6]. Group 1: Departure Details - Bao Wuke's resignation was announced on May 17, 2023, with the official reason cited as personal [2][3]. - He managed a total of eight funds, including notable products such as Invesco Great Wall Energy Infrastructure Mixed Fund and Invesco Great Wall Value Navigation Two-Year Holding Mixed Fund [4][6]. - His management scale reached 16.207 billion yuan before his departure [6]. Group 2: Performance and Achievements - During his tenure, Bao Wuke achieved remarkable investment performance, with some funds delivering returns of 374.75%, 185.82%, and 97.09% [5][6]. - The annualized returns for his representative products were 15.37%, 12.42%, and 14.08%, showcasing the effectiveness of his value investment strategy over the long term [6]. Group 3: Industry Context - Bao Wuke's departure is part of a broader trend, with 135 fund managers having left their positions in 2023, marking a 25% increase compared to the same period in 2024 [8][9]. - The increase in departures is attributed to changes in market conditions, adjustments in performance evaluation mechanisms, and pressures from industry transformation [10][11]. - The recent "Action Plan for Promoting High-Quality Development of Public Funds" emphasizes stricter performance assessments for fund managers, linking their compensation to long-term performance [10][11].

Core Viewpoint - The recent trend of prominent fund managers resigning from their positions is increasing, with notable figures like Jiang Hua'an and Bao Wuke stepping down, prompting fund companies to adopt strategies to mitigate the impact of these departures on their products and channels [1][8]. Group 1: Fund Manager Departures - Jiang Hua'an, a leading figure in the FOF team at ICBC Credit Suisse Fund, resigned from managing nine FOF products due to personal reasons, having managed assets totaling 2.139 billion yuan with a best tenure return of 41.08% [2][1]. - Bao Wuke, a well-known fund manager at Invesco Great Wall Fund, has also indicated plans to leave, as evidenced by the recent appointment of four additional managers to co-manage his funds [5][1]. - As of April 17, 2023, a total of 109 fund managers have left their positions this year, significantly higher than the same period last year [8]. Group 2: Fund Management Trends - The trend of increasing fund manager changes reflects a broader shift in the industry towards team-based operations, moving away from reliance on individual star managers [8]. - The rapid development of the fund industry has led to an expansion of the fund manager workforce, while the number of departures remains high, indicating a dynamic market environment [8]. - Market analysts suggest that the departures of star fund managers are influenced by market cycles, with some choosing to join larger firms or pursue private opportunities for better career prospects [8].