出品 | 妙投APP 作者 | 刘国辉 图片来源| AI制图 泉果基金最近宣布，旗下泉果泰岩3个月定开债基金清盘。该基金去年6月成立，为机构定制基金，刚成 立时规模16.30亿元，此后持有人不断减持，到今年一季度时，只剩下1.9亿元。此次清盘后，管理该基 金的基金经理戴骏已经没有在管产品。 更为棘手的是，明星基金经理赵诣管理的泉果旭源三年持有期混合，2022年刚成立时规模约99亿元，到 今年10月18日首批投资者将过了三年锁定期，截至目前亏损20%左右。如果接下来几个月里不能有很好 的上涨趋势，可能会面临部分投资者的赎回压力。这个产品目前规模为130亿元，占到公司整体规模的 八成。 无论是董事长任莉、总经理王国斌，还是基金经理赵诣，现在可能都感受到一丝压力。 成立于2022年的泉果基金，因为拥有明星阵容而备受关注，如今的势能相比当初成立时的高调，已经不 可同日而语。为什么会如此？ 从发行火爆到门庭冷落 2016年，王国斌从东方红资管董事长的位置上离任，投身一级市场，6年之后，他又重回二级市场，与 老搭档、东方红资管原总经理任莉联合创立了个人系公募泉果基金，二人各持有35%的股权。当年在东 方红资管，王国斌负责 ...

Core Viewpoint - Since its establishment in 2022, QuanGuo Fund has faced significant challenges, including poor product performance, shrinking scale, and the resignation of fund managers, leading to a decline in its reputation and performance [2][6]. Fund Performance and Management Changes - Dai Jun, a prominent fund manager at QuanGuo Fund, has resigned from managing the "QuanGuo Taiyan 3-Month Regular Open Bond" fund, which triggered its liquidation due to having fewer than 200 continuous fund holders for 20 consecutive working days [3][5]. - Under Dai Jun's management, the fund's scale plummeted from 2.97 billion to 190 million within a year, marking a 94% decrease [5]. - The performance of the funds managed by Dai Jun was subpar, with "QuanGuo Taiyan 3-Month Regular Open Bond" ranking 1691 out of 3065 similar funds, and "QuanGuo TaiRan 30-Day Holding Bond" ranking 1021 out of 1071 [5]. Company Background and Fund Performance - QuanGuo Fund was founded by prominent figures in the industry, including Wang Guobin and Zhao Yi, yet its performance has been disappointing, with the "QuanGuo Taoyuan Phase I" fund losing 12.04% since inception, significantly worse than the average loss of 3.96% among similar funds [6][8]. - Zhao Yi's management of the "QuanGuo Xuyuan 3-Year Holding Mixed" fund has resulted in a return of -23.39%, with an annualized return of -9.29%, contrasting sharply with his previous successful track record [8][9]. Market Conditions and Strategic Issues - The poor performance of QuanGuo Fund is attributed to several factors, including the timing of product launches during a rising interest rate environment and a declining stock market, which saw the Shanghai Composite Index drop by 15.13% [10]. - The fund's strategy has been criticized for being inflexible, particularly in its heavy investment in the underperforming new energy sector, which saw a decline of 19% in 2022 and 25.03% in 2023 [10]. Fundraising Challenges - Currently, QuanGuo Fund manages a total of 17 billion, with approximately 68% of the funds in the "QuanGuo Xuyuan 3-Year Holding Mixed" fund, which has hindered further fundraising efforts [11]. - The company has only raised 252 million since 2025, a negligible amount compared to its overall scale [11][14]. Future Outlook - The departure of Dai Jun and the underperformance of equity funds indicate a challenging path ahead for QuanGuo Fund, as it struggles with both fixed income and equity business development [21]. - The company's growth prospects are dimming, especially with new regulations linking management fees to fund performance, which may further complicate its future [21].