The departure of fund managers is undoubtedly particularly eye-catching this year. According to the statistics of Galaxy Securities Fund Research Center, in the first half of this year, the fund managers of 136 funds changed, and at least 7 1 person of 30 fund companies left. Up to now, of the 6 15 registered fund managers, 232 are no longer fund managers.
Not only fund managers, but also fund company executives have left their jobs. In June alone, 10 fund companies announced the change of executives, involving 16 executives. If we extend our eyes to 2008, five other fund companies, including CEIBS, Soochow, and Nanfang, issued change announcements involving the company's general manager, inspector general and other senior executives.
Behind the high frequency of resignation and job-hopping is the "three-year itch" of the fund manager's tenure. Statistics show that in recent ten years, the total number of fund managers in history is 6 1 1, and there are 423 people who have served for less than three years. In other words, nearly 70% of fund managers have a public offering career of less than three years.
At present, only 29 fund managers of 2/kloc-0 fund companies, such as Changsheng, Cathay Pacific and Harvest, have served for more than 5 years. Among them, only seven fund managers of seven fund companies, including Huaxia, Huaan and Guo Fu, have served for more than seven years.
Huaxia large-cap fund manager, HSBC Jintrust Longteng fund manager Lin, Huaan Manulife and Anshun fund manager Shang Zhimin became the top three fund managers with their service years of 10.06, 99 1 and 8.95 respectively, while only some of them exceeded 10. The cattle in the industry have all gone to bear the burden for the post-80 s.
Behind the wave of fund managers' resignation and the change of executives, the loss of industry elites is highlighted.
In June, Jiang Jinben, the investment director of Yifangda, known as the godfather of fund managers, washed his hands and quit the Public Offering of Fund industry. Jiang's departure once caused a lot of emotion in the industry. As one of the "senior figures" of E Fund Company, Jiang participated in the preparation of E Fund Company, and served as the fund manager, general manager, investment director and vice president of investment management department of E Fund Ji Jinhui and E Fund.
Before Jiang, many "heavyweights" in the fund industry had changed. On May 23rd, southern fund announced that Xu, the deputy general manager of the company, resigned. Earlier this year, Deng Zhaoming, another deputy general manager of southern fund, also announced his resignation.
On the one hand, the withdrawal of industry elites, on the other hand, the general decline of fund managers' qualifications. Li Wei, an analyst at Galaxy Securities Fund Research Center, said in the latest research report that most of the current fund managers are "novices", and 1 15 of the 383 fund managers have insufficient working experience 1 year, accounting for nearly 1/3. The average term of office of all fund managers is only 485 days, just over one year, and the shortest time limit of an economic cycle is more than five years.
What is even more worrying is that among these fund managers who are in charge, there are many post-80 s figures. These fund managers are unceremoniously crowned as "rookie" by the industry. It is these "rookies" who manage billions and tens of billions of fund assets. The bear market comes unexpectedly, and there are many "young talents" wrestling.
"Are our assets still safe?" In the era of increasing market volatility, faced with more and more "novice" managers in control of Public Offering of Fund, citizens are worried about whether their performance can be guaranteed.
Worry is not groundless. According to the data of Galaxy Securities Fund Research Center, in this year's market environment with increased risks, the performance of 32 equity funds whose current fund managers have served for more than three years is about 20% higher than the average performance of similar funds. The risk of fund performance fluctuation under the jurisdiction of fund managers with more than 5 years of relevant experience is small, while the performance of fund managers with more than 8 years of relevant experience is relatively stable.
Li Wei, an analyst at Galaxy Securities, pointed out that from the current situation, the brain drain of fund managers in Public Offering of Fund is accelerating, and investors should pay close attention to the influence of fund managers when investing in funds. Li Wei said that although the change of fund managers will bring some uncertain risks to the fund performance, it is not a wise investment choice to blindly follow the star fund managers and change the fund varieties frequently. In fact, according to the data since this year, for the fund, the continuous appointment of fund managers is more important for the stable performance of the fund.
Therefore, when choosing a fund to consider the influence of the fund manager, investors may wish to pay more attention to the stability of the team, avoid some investment varieties with frequent or recent changes in fund managers, and prefer to invest in relatively stable varieties.