Half a year after the position of general manager becomes vacantAndroidrouletteThe trillion-yuan Boshi fund welcomed a general manager with a banking background. May twenty _ fifthAndroidrouletteAccording to the announcement of Boshi Fund, Zhang Dong officially assumed the post of general manager of the company on May 24, and Chairman Jiang Xiangyang was no longer the acting general manager.
According to public information, Zhang Dong, who has more than 30 years of banking experience, did not leave the banking system until May 2024 and later became deputy party secretary and general manager of Boshi Fund. Compared with the previous general manager, Gao Yang is a public offering with a research background and once managed equity funds.
The author is concerned that at the end of the first quarter of this year, the management scale of Boshi fund returned to the trillion level, but the scale growth is mainly driven by fixed income products, especially the rapid growth of monetary funds, while the scale of equity is still in a downward trend.
Excluding the second new base, over the past year, more than 70% of the active equity funds have fallen into losses, of which the performance loss of Zeng Peng, a "ten-year veteran", is more serious. Zeng Peng is in charge of "one-to-ten" products, and there are 6 products with a large loss of return.
The general manager of trillion Public offering takes office, and Zhang Dong is born in the banking system.
On November 10, 2023, Gao Yang, the former general manager of Boshi Fund, left and went to Tianhong Fund in December of the same year to become general manager. As a result, Jiang Xiangyang, chairman of Boshi Fund, performed the duties of general manager on his behalf. Within half a year, Boshi Fund announced that Zhang Dong was the new general manager of the company.
According to the announcement, Zhang Dong has rich banking experience, worked at the Bank of China (601988) from August 1989 to June 1994, and joined China Merchants Bank (600036) in June 1994. After entering China Merchants Bank, Zhang Dongxian served as a staff member and office director of Shenzhen Dongmen branch, vice president (presiding over) and president of Shenzhen west branch, and assistant president and vice president of Shenzhen Dongmen branch.
Subsequently, Zhang Dong was transferred to the headquarters of China Merchants Bank and served as deputy general manager of the business department of the head office and deputy general manager of the retail banking department of the head office. Zhang Dong was also transferred to China Merchants Yonglong Bank, a subsidiary of China Merchants Bank, as deputy general manager.
Subsequently, Zhang Dong was transferred back to the headquarters of China Merchants Bank and served as General Manager of Wealth Management Department of head Office; General Manager of Wealth Management Department of head Office; General Manager of Credit Card Center of head Office; President of Retail Finance headquarters of head Office (Chief Supervisor level of head Office); General Manager of Wealth platform Department of head Office (Chief Supervisor level of head Office); President of Hangzhou Branch (Chief Supervisor of head Office); General Manager of Finance and Accounting Department of head Office and General Manager of Purchasing Management Department (level of Business Director of head Office) and other positions.
Zhang Dong resigned from China Merchants Bank in May 2024 and is now deputy secretary of the party committee and general manager of Boshi Fund. Thus it can be seen that Zhang Dong has worked in the banking system for more than 30 years and has no previous experience in public offering.
By contrast, Gao Yang, the former general manager of Boshi Fund, is a senior public offering and has a background in research. In March 2000, Gao Yang joined Boshi Fund as a bond portfolio manager of the Fund Management Department. After leaving in June 2001, Gao Yang returned to Bosch Fund in April 2002 as a fund manager. Gao Yang served as General Manager of Bosch Fund from February 2021 to November 2023.
The scale is back to trillions, and the rights and interests are still short.
As one of the domestic head fund companies, the management scale of Boshi fund has grown rapidly in recent years, breaking through the trillion scale for the first time at the end of 2021. After a pullback in the first quarter of 2022, Bosch Fund returned to the trillion level again in mid-2022 and at the end of the third quarter of 2022.
In the fourth quarter of 2022, against the backdrop of large fluctuations in the bond market, the management scale of the Bosch fund fell below the trillion mark, reducing by 1303 month-on-month.Androidroulette.85 billion yuan (excluding the market value of ETF linked funds, the same below). At the end of the first quarter of 2023, the management scale of Boshi Fund dropped to 9042.Androidroulette.15 billion yuan, approaching the 900 billion yuan mark.
Subsequently, the management scale of the Boshi fund fluctuated, until the end of the first quarter of this year, after an interval of five quarters, the Boshi fund stood on the stage of trillion yuan again, with the management scale reaching 1.046716 trillion yuan.
The management scale of Boshi fund fluctuates significantly, which has a great relationship with the change of the scale of fixed products. Boshi Fund is known as the "solid collection factory", and the management scale is mainly composed of fixed collection products. By the end of the first quarter of this year, the combined size of its bond funds and money funds accounted for more than 80%.
At the end of the first quarter of this year, the management scale of Boshi fund returned to more than one trillion yuan, mainly driven by fixed income products, especially money funds. Of this total, the size of the bond fund increased by 20.887 billion yuan from the previous month, and the monetary fund increased by 58.462 billion yuan from the previous month.
On the other hand, the equity scale of Boshi fund is not only relatively small, but also shows a downward trend. At the end of the first quarter of this year, the size of stock products was 41.304 billion yuan, down 5.686 billion yuan from the previous month, and the size of mixed funds was 72.814 billion yuan, down 4.438 billion yuan from the previous month.
70% of the active rights and interests lost, and the performance of the veteran lagged behind in ten years.
According to the author's statistics, as of May 24, after excluding the second new fund, Boshi Fund has a total of 139 active equity funds in the past year, of which 101 have fallen into losses, accounting for 72.66%. During the same period, a total of 25 active equity funds lost more than 20%.
The author found that due to the small total scale of equity and the lack of star fund managers, Boshi Fund does not have tens of billions of active equity fund managers. By the end of the first quarter of this year, the fund manager with the largest active rights and interests under Boshi Fund is Zeng Peng, with a management scale of 8.935 billion yuan.
Zeng Peng has been a fund manager since January 2013 and has been in office for 11 years and 132 days, with a return of 66.34% since taking office in June 2018. It is worth noting that Zeng Peng is in charge of the number of products up to 10.
Zeng Peng not only manages a large number of products, but also has different themes and styles. Among the 10 products managed by Zeng Peng, they include different types, such as military industry theme, semiconductor theme, consumption theme, science and technology theme, Shanghai, Hong Kong and Shenzhen, and so on.
Handing over funds with different themes to the same fund manager may reflect the lack of rights and interests of Bosch funds. There is still a question mark over whether a fund manager has a wide enough circle of ability to manage different theme products. From the performance point of view, many of the products managed by Zeng Peng suffered serious losses.
Since 2021, Zeng Peng has taken over or issued 6 products (excluding outgoing products), and the return on employment has been negative so far. For example, the return on employment of Bosch Shanghai-Hong Kong-Shenzhen Quality Enterprise Fund is-50.31%, the return on employment of Bosch Semiconductor themed mixed employment is-44.45%, and the return on employment is-40.42%.
Half a year later, Boshi Fund welcomed a general manager with a banking background. Although the total size of Bosera Fund has returned to the trillion-dollar level, the equity scale and equity performance are still unsatisfactory. Whether Zhang Dong can lead Bosera Fund to make up for its equity shortcomings remains to be seen.