157 fund managers left during the year, revealing the shocking truth behind it!
A storm is sweeping through China's mutual fund industry. In just six months, 157 fund managers have chosen to leave. This number is not only staggering, but also makes people ponder: what is the reason why these once glorious "financial elites" choose to leave?
Today, let's unravel this mystery together.
The most direct reason is the salary limit. It is reported that the public fund industry will soon implement a new salary policy, and the annual salary ceiling of fund managers will be limited to 2.9 million yuan. This is undoubtedly a punch in the face for fund managers who are used to high compensation. What is even more eye-popping is that some fund companies have begun to require that salaries that exceed the standard need to be refunded, with a deadline of August this year.
Imagine how you would feel if your annual salary was suddenly cut in half.
But that's just the tip of the iceberg. Let's dive into the deeper reasons:
1. Performance pressure and responsibility imbalance, in the past two years, the fund industry has frequently reported losses. In 2022, it will lose 1.1 trillion yuan, and it will continue to lose 434.7 billion yuan in 2023. Among them, the most popular equity and hybrid funds of ordinary investors lost 890 billion. In the face of such huge losses, investors' dissatisfaction can be imagined.
What is infuriating, however, is that even with such significant losses, some fund managers' salaries have not been affected in the slightest. It is rumored that the annual salary of a star fund manager is as high as 70 million, and fund managers with an income of more than 10 million abound. This huge contrast has undoubtedly exacerbated the contradiction between investors and fund managers.
2. The income structure of the "fairy model", the income of the public fund mainly comes from the management fee, and the management fee is charged according to the scale of the fund. This means that no matter whether the fund makes money or loses, as long as the scale is large enough, the fund company can make a lot of money. This model has led many fund companies to adopt a "star-making" strategy in pursuit of short-term interests, concentrating all their resources on a few star fund managers and expanding their scale frantically.
The result? The scale is going up, but the performance is getting worse. Some star managers have lost more than 30 billion yuan in three years, and his company has lost more than 190 billion yuan in two years. Ironically, however, the company's revenue and profits hit record industry highs last year.
3. Industry supervision is becoming stricter, and with the continuous exposure of problems in the fund industry, the regulatory authorities have also begun to increase their supervision of the industry. In addition to salary restrictions, the requirements for fund managers' performance appraisal and risk control are also increasing. This undoubtedly increases the pressure on fund managers.
4. Talent flow and market changes: With the continuous development of the financial market, emerging fields such as private equity funds and quantitative investment are rising. These fields often offer higher salaries and greater room for development, which is a great attraction for public fund talents.
So, what impact will this "wave of resignations" have on ordinary investors?
In the short term, it may cause fluctuations in the performance of some funds. But in the long run, this may be an opportunity for the industry to reshuffle and return to its roots. Only fund managers and fund companies that truly put the interests of investors first can gain a firm foothold in the future competition.
For us ordinary investors, this is also a warning: do not blindly pursue the so-called "star fund manager", but look at fund investment more rationally, and pay attention to the long-term performance and risk control ability of the fund.
Finally, it is hoped that this storm will drive the entire fund industry in a healthier and more transparent direction. Only in this way can a win-win situation for investors and fund managers be truly achieved.