Special topicRoulettesimulator1000spinsWill Qiu Dongrong of the Zhong Geng Foundation leave office? Two of its products hire additional fund managers.
Source: Hofu PricewaterhouseCoopers
Author: WikiLeaks
Rumors of Qiu Dongrong's resignation are rampant. Onlookers can be happy to eat melons, but holding Qiu Dongrong's base people are in a dilemma. What should be done? If the scale of this fund is relatively large and most of the holders are institutional investors, the word "redemption" will be used. If you want to add a time limit in front, it is as soon as possible. Star fund managers bring their own institutional funds. Therefore, compared with the base people, institutional holders are more sensitive, and we have observed that most star fund managers have actually started to redeem them before leaving. If the fund institutions managed by star fund managers hold a high proportion and the larger the size of the fund, it is easy to compete for redemption. Therefore, the redemption of friends of the people should be made as soon as possible. The possibility of Qiu Dongrong's departure is likely to be answered by the change in the share of his fund.
On May 11, the Zhonggeng Fund announced that it would hire Wu Chenggen as the Zhonggeng value quality fund manager and Liu Sheng as the Zhonggeng value pilot fund manager.
According to the data, by the end of the first quarter of 2024, the public offering management scale of Zhonggeng Fund is 250.Roulettesimulator1000spins44 billion yuan, its fund managers are only Qiu Dongrong, Wu Chenggen, and Chen Tao, with a total of 6 funds under management. Among them, Qiu Dongrong as the company's deputy general manager and chief investment officer, Qiu Dongrong under the management of five funds, Qiu Dongrong personally managed product scale as high as 19.854 billion yuan, accounting for 79.28% of the total size of the Zhong Geng Fund.
Specifically, Qiu Dongrong's five funds are medium Geng value pilot, medium Geng value smart and flexible allocation, medium Geng value quality held for one year, China Geng Hong Kong Stock Exchange value closed for 18 months and medium Geng small-cap value. One product was previously jointly managed with Wu Chenggen. After hiring more fund managers, the products managed by Qiu Dongrong alone are only the value of medium Geng small market and the value of China Geng Hong Kong Stock Exchange, which have been closed for 18 months.
Qiu Dongrong's current fund size change and the proportion of institutional holders
Source: Tian Tian Fund
From the scale of Qiu Dongrong's five funds, Zhonggeng value pilot is the flagship fund scale as high as 6.899 billion yuan. Secondly, the holding scale of Zhonggeng value quality is 4.618 billion yuan a year, and the value scale of Zhonggeng small plate is 4.419 billion yuan. The smart and flexible allocation scale of Zhonggeng value is 2.305 billion yuan, and the closed scale of Zhonggeng Hong Kong Stock Exchange is 1.582 billion yuan in 18 months.
The 18-month closure of Zhonggeng Hong Kong Stock Exchange value is still closed, so there is no change in size and holder share, and there is no reference value; as a flagship fund, the share of Q1 shrank by 600 million in 2024, and the proportion of fund holders decreased from 47.50% of Q4 in 23 to 45.24% in 24; the value share of Zhonggeng small market decreased by nearly 300 million in Q1, and the proportion held by the fund was 49.3%. In 24 years, the share of Q1 has shrunk by about 90 million, and the proportion of institutional holders is 13.41%. The above data show that the three funds managed by Mr Qiu redeemed a total of 1 billion shares in the first quarter. The organization holds the highest proportion and the largest medium Geng value pilot and the medium Geng small market value Q1 has actually shrunk by 600 million and 300 million. This is probably the work of prescient institutions. To sum up, the possibility of Qiu Dongrong leaving is self-evident, so what choice will you make for the holder?