Five months after Wang Hai, member of the Party committee and deputy general manager of CAITONG fund, took the post of general manager, the appointment of senior executives of CAITONG fund ushered in new progress.
The Chinese reporter of the securities firm learned that Xu Chunting, general manager of Caitong Securities Co.Ltd(601108) clearing and depository center, was nominated as general manager of CAITONG fund; Zhang Qicheng, Secretary of the Party committee and chairman of Zhejiang Financial Holding, was appointed secretary of Caitong Securities Co.Ltd(601108) Party committee and nominated as chairman of the board.
CAITONG fund has the title of “king of fixed growth”. At present, Caitong Securities Co.Ltd(601108) , Hangzhou industrial investment group and Zhejiang Huge Leaf Co.Ltd(600226) hold 40%, 30% and 30% of the shares of the company respectively. By the end of 2021, CAITONG Fund ranked 69th in the industry in terms of non goods of RMB 44.204 billion.
“Ding Zeng Wang” CAITONG fund ups and downs
CAITONG fund, founded in June 2011, was born in distress. Since its birth, it has faced fierce market competition. It focuses on innovative business and strives to stand on the same starting line with the head company in new business areas, so as to establish comparative advantages.
between the three business lines of quantification, fixed income and fixed growth, the management of CAITONG fund took fixed growth as a new focus and made a decisive layout. In 2013, it participated in more than 36 projects with an investment scale of nearly 10 billion. That year can be described as the first year of fixed growth of CAITONG fund
After the first taste of the sweetness, CAITONG fund invested a lot of manpower and time to carry out research and data analysis, and won hundreds of targets in 2014, with a participation amount of 25.6 billion yuan. It achieved a lot, and the fixed growth business ushered in the year of outbreak. So far, fixed growth has officially become the core strategic business of CAITONG fund, which has also won the title of “fixed growth king” in the whole market.
Everything has a cycle. The new refinancing regulations promulgated in February 2017 is a major turning point of fixed growth business. After the revision of the refinancing policy, fixed growth financing entered a tightening period, and the equity financing status of fixed growth financing was obviously challenged. The beta dividend of fixed increase has disappeared, which has a great impact on the fixed increase business of CAITONG fund.
At that time, CAITONG fund had shifted its focus to the development of equity funds, and the performance of some excellent fund managers represented by Jin Zicai was beginning to show extraordinary performance.
From 2020 to now, the policy combination led by the new refinancing deal and the reform of the registration system has been implemented one after another, and the new pattern of increasing opening up has been determined. The number of double standard funds that broke the scale of 10 billion and became the leader of the industry again.
According to the data, from the new deal in 2020 to July 31, 2021, 403 bidding increases have been completed in the whole market, with an average discount of 83.24%. CAITONG fund has participated in 297 Quotations (participation rate 73.70%) and won 222 bids (success rate 74.75%), which is better than the whole market.
The Chinese reporter of the securities firm learned that after Xu Chunting, general manager of Caitong Securities Co.Ltd(601108) clearing and depository center, is nominated as general manager of CAITONG fund, it needs to be reviewed and approved by the board of directors and regulatory approval.
In the future, CAITONG fund will follow what strategic route, how to continue to build a “boutique asset management” store, and how to expand other advantageous areas beyond the fixed growth business, which are the problems facing the new management.
several personnel changes
On January 20 this year, the provincial supervision committee of Zhejiang Provincial Commission for Discipline Inspection and the provincial supervision committee stationed in Caitong Securities Co.Ltd(601108) discipline inspection and supervision group and Liandu District Supervision Committee issued a notice that Wang Jiajun, former deputy secretary of the Party committee and general manager of CAITONG Fund Management Co., Ltd., was suspected of serious violation of discipline and law and was under discipline examination by the provincial supervision committee stationed in Caitong Securities Co.Ltd(601108) discipline inspection and supervision group of Zhejiang Provincial Commission for Discipline Inspection and the supervision and investigation of Liandu District Supervision Committee.
Wang Jiajun has served as the general manager of CAITONG fund for more than five years. In October 2021, CAITONG Fund announced that Wang Jiajun left the general manager and Wang Hai, member of the Party committee and deputy general manager of CAITONG fund, acted as the general manager.
Since last year, CAITONG fund has made several important personnel adjustments. On September 4, 2021, CAITONG Fund announced that Xia Lifen, the former chairman of the board, left office and Wu linhui took over the post of chairman of the company.
Xia Lifen, former general manager of Citic Securities Company Limited(600030) Jiangxi branch, joined Caitong Securities Co.Ltd(601108) in March 2017, former chief risk officer, general manager assistant and chief risk officer of Caitong Securities Co.Ltd(601108) and member of the Party committee, deputy general manager and chief risk officer, now member of the Party committee and deputy general manager of Caitong Securities Co.Ltd(601108) Jiangxi branch, chairman of CAITONG fund, chairman of the compliance risk control committee of Zhejiang Securities Association Member of Risk Management Committee of China Securities Association.
Wu linhui, the new chairman, has successively served as deputy general manager of Caitong Securities Co.Ltd(601108) brokerage business headquarters and general manager of institutional operation Department, operation director and general manager of institutional management department, operation director and general manager of operation center. Now he is the director of Caitong Securities Co.Ltd(601108) operation and the Secretary of the Party committee of CAITONG fund.
At the end of September 2021, Jin Zicai, director of the Fund Investment Department of CAITONG fund, was promoted to the assistant general manager of the company, which is also an important signal that CAITONG fund will continue to increase its equity layout in the future.
The Chinese reporter of the securities firm learned that the jinzicai team of CAITONG fund is flat management horizontally, does research and investment based on the common investment concept, and vertically takes the advantageous industries as the vertical team, implements the values while landing the methodology, and continues to train new people in a rolling manner, so as to form a stable talent echelon. There are not only veterans who have worked in the team for more than 10 years, but also rookies who stand out, and they all have solid basic skills and their respective fields of expertise.
Haitong Securities Company Limited(600837) data show that CAITONG Fund ranked 5 / 101 in absolute return of equity funds in the past five years (201701.03202112.31) and 4 / 73 in the past seven years (201501.05202112.31).
Just in the past 2021, the performance of many funds under CAITONG Fund ranked among the top 30% of similar funds in the whole market.
