2025.11. 03 本文字数：1211，阅读时长大约2分钟 作者 | 第一财经 魏中原 封图 | 泉果基金官网 王国斌是中国资本市场的元老级人物，是东方证券资产管理业务（即"东方红"品牌）的核心创始人和领军人。在他的带领下，东方红开创了独特的价值 投资体系，并打造了多只长期业绩优异的明星产品。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。2022年，王国斌重返公募行 业，泉果基金自成立以来就备受市场关注。 成立三年多，泉果基金吸引了多位基金经理加盟，包括此前获得年度冠军、农银汇理原基金经理赵诣，以及刚登峰、钱思佳、孙伟等。泉果基金在产品 发行上采取精品策略，目前旗下主要公募产品数量不多。 11月3日下午，泉果基金发布公告，总经理王国斌病逝，由任莉代任总经理职务。公告发出后，泉果基金官网已变黑白色。 泉果基金成立后，产品发行正是A股市场整体表现低迷时，在成立前两年的熊市环境中，泉果旭源的净值表现低迷，尤其是以泉果旭源三年持有混合为 代表的旗下产品的收益表现没有达到很多人的预期。 直到今年A股整体行情回暖，泉果基金下面所有的基金成立至今，均为正收益，截至9月30日，泉果旗下全部6只基金成立以 ...

Core Points - The article discusses the recent developments at QuanGuo Fund, including the passing of its general manager Wang Guobin and the appointment of Ren Li as the acting general manager [2][3] - QuanGuo Fund, established in February 2022, has gained attention in the market, particularly due to its unique value investment system developed by its founder Wang Guobin [3] - As of the end of Q3 2023, QuanGuo Fund's total assets under management reached approximately 23.787 billion yuan, with five fund managers overseeing its operations [3][4] Company Overview - QuanGuo Fund was founded by Wang Guobin, a veteran in China's capital market, and Ren Li, the former general manager of Dongfanghong Asset Management [3] - The fund has attracted several notable fund managers, including Zhao Yi, who previously won an annual championship, and others like Qian Sijia, Sun Wei, and Gang Dengfeng [3] - The fund employs a boutique strategy in product issuance, resulting in a limited number of public fund products [3] Fund Performance - Since its inception, QuanGuo Fund has faced challenges, particularly during the bear market, with its flagship product, QuanGuo Xuyuan, underperforming initially [4] - However, as of September 30, 2023, all six funds under QuanGuo Fund have achieved positive returns, marking a significant recovery in the A-share market [4] - The largest fund, QuanGuo Xuyuan, launched in October 2022, has shown a year-to-date return of 47.46%, ranking in the top 20% of its category, although it has underperformed compared to the CSI 300 index since its inception [5] Specific Fund Details - QuanGuo Xuyuan's top holdings include major companies such as CATL, Tencent, Luxshare Precision, Kuaishou, and Tianshan Aluminum [5] - QuanGuo Jiayuan, managed by Qian Sijia, has shown a net value growth rate of 33.16% since its inception, with a maximum drawdown of -10.10%, significantly better than the broader market indices [6] - The fund's stock allocation is heavily weighted, with 78.12% of its net asset value in equities, including a notable allocation to Hong Kong stocks [6]

Core Points - The announcement from QuanGuo Fund Management Co., Ltd. indicates the appointment of new fund managers Qian Sijia and Xu Yuan for the QuanGuo TaiRan 30-Day Holding Period Bond Fund, while the previous manager Dai Jun has left the position [1][2]. Group 1: Fund Manager Changes - Qian Sijia has extensive experience in asset management, having worked at Dongfang Securities and Shanghai Dongfang Securities Asset Management Co., Ltd. before joining QuanGuo Fund Management in November 2022 [1]. - Xu Yuan has a background in bond trading and management, previously working at Shangyin Fund Management Co., Ltd. and Nomura Orient International Securities Co., Ltd. before joining QuanGuo Fund Management in February 2024 [1]. Group 2: Fund Performance - The QuanGuo TaiRan 30-Day Holding Period Bond Fund A and C classes were established on April 16, 2024. As of June 13, 2025, the year-to-date returns are -0.85% and -1.02%, respectively, while the returns since inception are 0.91% and 0.43% [1]. - The cumulative net values for the A and C classes are 1.0091 yuan and 1.0043 yuan, respectively [1].

对于清算原因，报告称"截至2025年7月3日，本基金出现连续50个工作日基金份额持有人数量不满200人的情 形，已触发《基金合同》中约定的基金终止条款。根据《基金合同》有关约定，本公司应依据基金财产清算程 序对本基金进行财产清算并终止基金合同，且无需召开基金份额持有人大会。" 根据中国经济网记者了解，泉果泰岩3个月定期开放债券基金在2024年6月14日刚成立时的规模合计为16.30亿 元，到2024年9月30日，规模即缩水近半，为8.43亿元，到2024年年底规模即跌破2亿元。而从持有人结构看，机 构占到了99.8%。 中国经济网北京7月14日讯 12日，泉果基金管理有限公司发布《泉果泰岩3个月定期开放债券型证券投资基金基 金清算报告》。 报告称，泉果泰岩3个月定期开放债券型证券投资基金（以下简称"本基金"）自2024年6月14日起正式成立运 作，根据有关约定，本基金已触发基金合同终止情形，本基金依据法律法规的规定及基金合同的约定履行基金 财产清算程序并终止基金合同，无需召开基金份额持有人大会。本基金的最后运作日为2025年7月3日，并自 2025年7月4日起进入清算程序。 来源：天天基金网 | | | 来源 ...

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].