One side is involved in the peachy turmoil, while the other is managedfundSignificant retracement! Citizens, what do you think.
The “peach-colored” big melons in the financial circle joined together. Ten days ago, it just happened that the executive general manager of CICC Capital had cheated on his marriage and was expelled for personal gain.
In the evening of April 7,CICCSuddenly posted aannouncementSaid that the company’s current compliance director Chen Gang was unable to continue to perform his duties as the compliance director due to physical reasons.
CICCAnnual salary of nearly 6 million subsidiariesExecutivesHave been reported
“We are a wife”!
On April 7th, the online circulated company’s lawyer Chen, who is responsible for compliance, was thrown into the client group by the wife’s husband.
On the evening of April 7,CICCThe announcement stated that Chen Gang, the company’s current compliance director, was unable to continue to perform his duties as the compliance director due to physical reasons. The chief executive officer of the company shall perform the duties of the compliance director on his behalf from the effective date until the company appoints a new compliance director.
CICCAccording to the report, the company held the twelfth meeting of the second board of directors on April 7, 2021. With 8 votes in favor, 0 votes against, and 0 abstentions, the Proposal on the Responsibilities of the Compliance Director.
CICCIt was revealed that Chen Gang, the company’s current compliance director, was unable to continue to perform his duties as the compliance director due to physical reasons.
In order to ensure that the company’s compliance work is not affected, according to the “Securities Companies andStock investmentAccording to the Regulations on Compliance Management of Fund Management Companies and the Articles of Association of China International Capital Corporation Limited, the board of directors agreed: Chen Gang will no longer serve as the compliance director, and shall be approved by the board of directors and filed and/or approved (if necessary ) (Hereinafter referred to as “effective date”);
The chief executive officer of the company shall perform the duties of the compliance director on his behalf from the effective date until the company appoints a new compliance director.
CICCThe announcement pointed out that the reason Chen Gang no longer serves as the compliance director was “physical reasons”, but the real reason may not be unrelated to the recordings circulating on the Internet.
According to Internet news, Zhongjin Chen Gang cheated on his subordinate Ms. M. Ms. M’s husband found out that he took a phone call with a recording of evidence and called the confrontation. The recording was also thrown directly into the customer base of more than 300 people by Ms. M’s husband using Ms. M’s WeChat account.
In the recording, Chen Gang said: “We can’t do everything right, but after all, we can’t be a good person at every point.” It was madly spread by netizens.
According to the Daily Economic News, the reporter contacted CICC to change the compliance director. The company said that the caliber is subject to the announcement.
according toBrokerageIn China, a person familiar with the matter disclosed to reporters that Chen Gang himself has strong professional abilities and has a good reputation within the company.
CICC Capital’s management scale exceeded 340 billion in the middle of last year
“Something went wrong” director’s annual salary is nearly 6 million yuan
On the evening of March 30, CICC issued its first report card after returning to A, achieving revenue of 23.7 billion yuan in 2020, a year-on-year increase of 50%;Net profit7.2 billion yuan, a year-on-year increase of 70%.
According to the annual report, Chen Gang is 48 years old and his resume is extraordinary: he joined the group in April 2006 and held multiple positions, including the Coordinator of the Legal Department of the US Office and CICC Investment Management (USA), Inc. Compliance director, Beijing and Hong Kong office compliance lawyers until January 2014.
Before joining CICC, Chen Gang worked as a researcher at the Development Research Center of the State Council from August 1996 to January 2001, and as a senior lawyer at Broad & Bright Law Firm from September 2004 to April 2006.
He served as the managing director of Hopu Investment Management Co., Ltd. from January 2014 to April 2016, responsible for legal compliance affairs. He joined the Group again in May 2016 as the managing director of the compliance management department. Mr. Chen is a practicing lawyer in New York State and has a Chinese legal professional qualification.
Chen Gang obtained a Bachelor of Science degree in Applied Chemistry and a Master of Business Administration degree from Peking University in July 1996 and July 2001, respectively, and a Doctor of Law degree from the University of Pennsylvania Law School in May 2004. In 2020, Chen Gang’s annual salary is 5.935 million yuan.
50 billionHarvest FundThe manager is involved in a peachy controversy!All 9 of its products are at a loss
Last night, a hot search on the Harvest Fund was due to a fund manager named Guikai who was involved in a turmoil.
According to media reports, Harvest Fund took the initiative to come to the door to complain recently on the grounds that the content of its articles violated the portrait rights of Harvest Fund employees, leaked his personal privacy, damaged his personal reputation and goodwill and other legitimate rights and interests.
After sorting out the information in many ways, Guikai’s “story” gradually surfaced.
As early as late at night on March 31, Sina Securities issued a report, Mentioned that the star fund manager of Harvest Fund Gui Kai appeared indecent text in the WeChat chat records, such as “I take a bath, do you want to watch the live broadcast?”
In addition, multiple transfer records appeared in the report, including 2 transfers of 200,000 and 2 transfers of 100,000, totaling 600,000 yuan.
After that, the financial media mentioned above published similar articles, which resulted in a complaint from Harvest Fund.
Generally speaking, the scandals of fund managers have exposed loopholes in the internal management system of fund management companies.The fund manager had a scandal,fund companyHowever, it is debatable whether this approach is appropriate to try to solve personal matters in the name of the company.
at the same time,Fund companies and their fund managers manage the hard-earned money of thousands of Christians and charge hundreds of millions of yuan in management fees every year. They should also maintain good ethics.
How is the situation with Harvest Fund? What is Guikai’s level of trading as a fund manager? Now Christians are very concerned.
Public information shows that as of the fourth quarter of 2020, Harvest FundcurrencyFinancial managementThe average monthly size of public funds is 290.19 billion yuan, ranking 8th in the industry. From the perspective of management scale, Harvest Fund can be regarded as a large fund company.
Let’s look at Guikai’s situation again. Click to review 21 previous reports in the financial circle: 50 billion fund managers apologized! The retracement of 8 Castrol funds exceeded 20%, and netizens heatedly discussed: See you for a long time!
Guikai joined Harvest Fund in May 2014 and successively served as investment manager of the institutional investment department and fund manager of the stock investment department. He is currently the investment director of the Harvest Growth Investment Strategy Group.
The latest data shows that the total size of fund assets currently managed by Guikai is 56.115 billion yuan.
As a fund manager with an asset management scale of over 50 billion, the 9 funds managed by Guikai performed mediocre.
According to 21 financial circles, after the Spring Festival to the end of March, the fund manager managed to withdraw more than 20% of the products as shown below ↓
This means that if the Citizens buy any of Guikai’s funds on the last trading day before the Spring Festival, the floating loss will exceed 11%. For example, buying 10,000 floating losses will exceed 1,100 yuan.
The reason why Guikai’s funds have seen a sharp retracement is because of their heavy holdings in Baotuan stocks.
During the sharp fall during the Spring Festival, Baotuan stocks represented by liquor and medicine have fallen by more than 20%, resulting in a large number of fund withdrawals. Since most of Guikai’s funds are also group stocks, its funds are more affected.
On March 25, Guikai issued a public apology letter expressing his concern for the market decline after the Spring Festival.Fund net worth“Deeply sorry” for the larger drawdown.
Picture: Harvest Fund Investment Research Team
Gui Kai also stated in the letter of apology, “If the Baotuan stocksPerformanceIf it fails to meet expectations, the first 20% decline may have just begun. If the performance of the company can meet expectations, and even continue to exceed everyone’s expectations, it will be an opportunity to increase positions after a 20% decline. “
In addition, we also found the overall return of the 9 funds managed by Guikai from the beginning of 2021 to April 6.
As can be seen from the figure below, since 2021, all of Guikai’s 9 funds have had negative returns, and none of them are profitable.
In the same categoryFund rankingAmong them, one fund of Guikai ranks 1461, and the other 8 funds are all ranked behind 2000.
On the one hand, it is involved in the turmoil, on the other hand, the under-performance of the fund under management. Citizens, what do you think of the fund manager of Harvest Fund?
(Article Source: 21 Financial Circle)
(Editor in charge: DF010)
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