News summary
Jiutai Fund welcomes new general manager Xu Jintotojackpotprize, has served as core executives of four public offeringstotojackpotprize, the company's registered capital is 300 million yuan, and its operating income in 2023 is 2,775totojackpotprize.69 million yuan, loss of 6,946totojackpotprize.23 million yuan, with a management scale of 1.398 billion yuan, ranking 171st.
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[Xu Jin became the general manager of Jiutai Fund, and senior public offering executives joined]
The management of Jiutai Fund has undergone major changes. Xu Jin serves as the company's general manager and Wang Yu no longer represents this position. Xu Jin had previous experience in the agency custody department of the head office of Postal Savings Bank of China Co., Ltd., and later served as core executives of four companies in the field of public funds, including deputy general manager of Founder Fubon Fund, general manager of Pacific Fund (to be established), General Manager of Jiahe Fund and General Manager of Guorong Fund.
Since its establishment in 2014, Jiutai Fund has changed its general manager many times. As the first public fund company initiated and established by a PE institution, Jiutai Fund currently has a registered capital of 300 million yuan, jointly funded by four shareholders such as Kunwu Jiuding Investment Management Co., Ltd. However, although Jiutai Fund has a rich history in the field of public funds, its management scale has dropped from a peak of 15 billion yuan to the current 1.398 billion yuan, ranking 171st among public offering institutions in the entire market.
The trend of senior management changes in the public fund industry continues. Since the beginning of the year, 122 senior executives of 67 public offering institutions have changed, among which small and micro public offering executives are the most frequent. Small and micro public offerings such as Taixin Fund, Jiangxin Fund and Yimin Fund have all experienced executive changes, and there have been no significant breakthroughs in the scale and performance of these companies.
The current management scale of the public fund industry has exceeded 27 trillion yuan, and more than 100 companies have participated in the competition. However, the protagonist on the industry stage is still head public offerings, and small and micro public offerings are difficult to break through due to the lack of long-term stable management. The past development experience of relevant companies shows that frequent changes of senior executives may be an important reason, and the deep-seated reason behind this may be the lack of clear development ideas by major shareholders.
For small and micro public offerings, there is not much time and it is necessary to explore differentiated development paths under the trend of high-quality development. This may be achieved through the introduction of new shareholders or through mergers and reorganizations between companies. At present, the regulatory authorities have clearly proposed to support the differentiated development of the fund industry and guide fund management companies that have failed in operations to actively apply for cancellation of public fund management qualifications or achieve market-oriented exit through mergers and acquisitions, thereby promoting the construction of an industry ecosystem where the fittest is survived and orderly advance and retreat.