Core Insights - The article discusses the rapid turnover of fund managers in the public fund industry, highlighting a significant number of departures and the challenges faced by certain funds, particularly those managed by Jin Xin Fund [2][5]. Group 1: Fund Manager Changes - Since May 9, 14 fund managers left their positions on the same day, with a total of 541 funds experiencing management changes in the past 30 days [2]. - Jin Xin Fund currently has only 9 active fund managers, with some having very short tenures, such as 362 days and 203 days for two managers [2]. Group 2: Fund Performance and Risks - Jin Xin Fund's "Jin Xin Quality Growth" has been underperforming, with a net value growth rate of approximately -8.88% in its first year, ranking 3512 out of 4080 similar funds [2][3]. - The fund has repeatedly issued warnings about potential liquidation due to its net asset value falling below 50 million yuan for 60 consecutive working days [2][3]. Group 3: Managerial Changes and Challenges - The "Jin Xin Multi-Strategy Select" fund recently changed its manager to a less experienced individual, raising concerns about the appropriateness of this decision given the fund's complexity [5][6]. - The current manager of "Jin Xin Quantitative Select" has been in position for less than a year, and the fund continues to face challenges in scaling despite having a diverse portfolio [5][6]. Group 4: Fund Composition and Holdings - The funds managed by Jin Xin include several stocks from the Sci-Tech Innovation Board, which have a high volatility due to their 20% daily price limit [3][6]. - The "Jin Xin Core Competitiveness" fund, managed by a relatively new manager, is also facing liquidation risks despite holding well-known companies in its portfolio [6].