Huaxia Fund manages Public Offering of Fund's assets at around 200 billion yuan. By the year of 20 12, although Huaxia Fund, which has been the "No.1" in the industry for many years, still occupies the "No.1" position, the gap between the asset scale of fund companies such as E Fund and Harvest and Huaxia has been greatly narrowed.
An insider believes that for Teng, the primary problem or challenge he faces is: how to stabilize and continue the scale advantage of Huaxia Fund Company.
According to a member of the board of directors of Huaxia Fund Company, the new board of directors of Huaxia Fund has no specific target requirements for the management in terms of asset size.
"Fund management companies are relatively transparent. Now the company's product line is rich, and its marketing ability is further improved, all in accordance with the previously formulated guidelines. Mr. Teng will continue to implement and stabilize the previous things, and then do some play. " The above-mentioned independent directors said, "Under the current big market structure, the requirements of fund company shareholders for management may not be profit growth, but stability first."
Due to market factors and cost factors such as sales expenses, the operating pressure of fund companies has increased. Huaxia Fund's net profit has been declining year after year. This has an impact on the medium and long-term development of Huaxia Fund.
According to the information disclosed in the annual report of CITIC Securities, from 2008 to 20 1 1 year, China's net profit was12.24 million yuan,1/0.08 million yuan,/kloc-0.006 million yuan and 667 million yuan respectively.
Teng Tian Ming also admitted in a public article that "the common difficulty now is that the comprehensive strength of fund management companies is weak and their financial ability has dropped significantly."
Teng believes that most of the development directions envisaged by Huaxia Fund are medium and long-term business opportunities. In order to seize these opportunities, Huaxia needs to make some medium and long-term investments in personnel, products and infrastructure. However, for a long time in the past, on the one hand, fund management companies did not rely on capital operation, on the other hand, shareholders pursued dividends and retained little income every year. If we only rely on meager capital, medium and long-term investment cannot be guaranteed, and international business development, infrastructure construction, talent reserve and other work are stretched, so it is difficult to carry out innovative projects such as setting up professional subsidiaries and launching sponsored funds.