Group 1 - The core point of the article highlights the distinction between managing a company and managing a fund, emphasizing that these roles require different skill sets and can lead to conflicts when held by the same individual [1][5] - Cheng Tao, the general manager of Xiangcai Fund, has officially stepped down from managing four fund products, marking the end of his dual role as both general manager and fund manager [1][5] - The resignation is indicative of a broader trend in the industry where executives are increasingly choosing between management and fund management roles due to the complexities and conflicts that arise from holding both positions [5][9] Group 2 - Cheng Tao's departure from the four funds, including Xiangcai Research Select One-Year Holding and Xiangcai Changshun, is effective from August 20, 2025, and he will no longer manage any products [5][6] - His return to the investment front in early 2022 was a significant move, but the recent resignation suggests that this phase has come to a close [6][10] - Xiangcai Fund currently manages assets totaling 6.128 billion yuan across 19 funds, indicating its position within the mid-sized tier of the market [7][10] Group 3 - The article discusses the challenges faced by executives who attempt to juggle both company management and fund management, noting that this dual role can lead to inefficiencies and conflicts of interest [8][9] - The trend of executives stepping down from one of the roles is seen across various firms, including Dongfang Alpha Fund and Huiquan Fund, highlighting a shift towards specialization in the industry [9][10] - The future focus for Xiangcai Fund will likely be on strategic planning and team building, rather than direct fund management, which may enhance the company's overall effectiveness [10]

8月22日，湘财基金发布公告称，因工作安排需要，自8月20日起，公司总经理程涛不再担任湘财鑫享、 湘财研究精选一年持有、湘财长源、湘财长顺的基金经理。至此，程涛名下已无公募产品在管。中国证 券报.中证金牛座记者从业内获悉，后续程涛将专注于公司管理工作。 资料显示，程涛，中国社科院经济学博士，曾任联合证券有限责任公司(现更名华泰联合证券有限责任 公司)投行部高级经理，泰信基金基金经理助理，农银汇理基金投资部总经理兼基金经理，东吴基金总 经理助理兼投资总监、基金经理，现任湘财基金董事、总经理。 ...