Gao Feng, a master’s degree student, with fund qualifications, a master’s degree in finance from Peking University, and a chartered financial analyst (CFA). Served as a foreign exchange and derivatives trader in the Financial Market Department of Industrial and Commercial Bank of China. In 2015, he joined Harvest Fund Management Co., Ltd. as an index researcher of the Index Investment Department, and is currently the fund manager of the Index Investment Department.

Since the beginning of this year, in the newly issued fund products of Harvest Fund, Gao Feng has served as a number of indexes such as Harvest CSI Shanghai, Hong Kong and Shenzhen Internet ETF, Harvest CSI Software Services ETF, Harvest CSI Agricultural ETF, Harvest Hundsun Technology ETF (QDII) The fund manager, including the Harvest Hundsun Technology ETF under its management, has only 37 days from its establishment on May 26 to its official resignation on July 2.

School elites, industry elites, and system elites (CSRC). What a logical path this is, and what a reassuring path. There is no such thing as “experiences in charge of insiders”, there is no such thing as a “three-level cadre” who has nothing to learn but does not understand practical operation, and there is no anxiety about living conditions (probably full of money). Still set aside this discussion about “rice bowls”? Isn’t it good for someone who is knowledgeable, highly intelligent, and has no worries about life to be an industry manager? I saw that some people mentioned the issue of worrying about the transfer of the interests of insiders. The transfer of benefits is related to personal values and system design. If the individual has integrity, the system design is restrained, and the system is well done in anti-corruption, then it is not a big problem. Conversely, if the individual is greedy and the system has loopholes, what if he doesn’t know how to do it at first? Some are able to bite the eggs with seams. In a word: do not dare to rot, cannot rot, do not want to rot. Don’t dare to corrupt, because the system is powerful in anti-corruption; you can’t be corrupt because the design of the system is flawless; you don’t want to be corrupt because the education warnings are in place.

zhiwo

By zhiwo

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helpmekim
6 months ago

Although fund managers have high incomes and basic guarantees, they are also under great pressure. Sometimes the market is good and sometimes bad. When it is good, everyone is happy. When it is bad, the net value of the fund drops and may be scolded. Think about it, the proud son of heaven, graduated from Peking University Finance, this can’t stand it, even if it has not been scolded before, but it is not possible to have such a possibility. The Securities Regulatory Commission is in charge of IPOs, the absolute master. We know that the major shareholders of listed companies can be said to be the top of the food chain in the financial market, but the officials of the Securities Regulatory Commission still obediently be their grandchildren. If you rank the ecological environment, from high to low, it looks like this: Securities Regulatory Commission (managers) listed companies (major shareholders), fund managers, investors, and retail investors go high. People have this capital and conditions, so we don’t need to envy them. , Envy is useless. I remember knowing that the per capita Ivy League school, with an annual income of 1 million, we should first try to achieve the average level of knowing.

heloword
6 months ago

1. The management fees of public ETF funds are not high, and it is difficult to make money (after all, it is a passive strategy). I don’t know what the other funds he manages are. For the Harvest Hundsun Technology ETF, the scale is only 20 million. This scale is enough to support him even if it is tenfold, let alone raise the team. 2. This department is not an ordinary department, but the issuance supervision department of the China Securities Regulatory Commission. Firstly, it is responsible for approving IPOs, which is beyond imagination. Secondly, it is responsible for compliance supervision. When returning to the original unit, the leaders must be polite to him. Call the teacher, in a word, Party A is his father.

helpyme
6 months ago

Financial migrant workers have related interests. Fund managers just sound well-known. In fact, among the domestic 1 trillion public offering funds, fund managers are a very involuntary profession. Do you think they are doing research, dealing with data, roadshows on the tall? A big mistake, public funds are a very market-oriented, market-oriented, and marketing-oriented industry. The main marketing targets of domestic public funds are institutional investors, such as the asset management of large insurance companies, the bank’s wealth management subsidiary (that manages the bank’s wealth management funds), and the self-operated funds of the bank’s financial market department. Fund managers often follow the sales to the buyer’s father’s various road shows, various entertainment, and even the more famous fund managers have to flatter and maintain a small young investment manager who is a big buyer. If it doesn’t agree with the buyer’s investment manager, they will redeem them in batches. In our industry group, often fund managers accompany buyers to play Texas, but they still dare not win money and play business cards. Especially for passive funds such as index funds, there are not many places where they can demonstrate their subjective ability. Buyers buy Castrol, Bosera, or Yifangda. They are almost the same. Of course, whoever serves it well will buy it. The issuance and review department of the China Securities Regulatory Commission is not the same. Do you think that the income of ordinary civil servants is much lower than that of fund managers? You only saw the first half of the journey. Many senior leaders of our company came to the sea from the director of the regulatory department. Regulatory agencies must be familiar with regulatory tastes, industry contacts, and capital market risk control regulations for a certain number of years. These are the targets of major asset management institutions and listed companies competing for high salaries. So he took this step, it was a step forward, offensive, and defensive. It’s worth the walk.

sina156
6 months ago

After being admitted to the civil service, the fund manager who graduated from Peking University quit his job. Recently, Gao Feng, the fund manager of Harvest Hundsun Technology ETF, resigned from the position of fund manager after only 37 days in office. In addition to this fund, other index funds managed by it also They all stepped down one after another. Many of the funds were newly issued in 2021, and most of them have been under management for less than half a year. Why are you leaving so soon? Switch to other fund companies or just “run privately”? Actually none of them! An announcement by the China Securities Regulatory Commission for the hiring of staff members of public institutions in accordance with the Civil Service Law revealed the answer. The reporter noticed that Gao Feng appeared on the list of hiring personnel. Resigning after being admitted as a civil servant Speaking of Gao Feng, his resume shows that he is a Master of Finance of Peking University and a Chartered Financial Analyst (CFA). Served as a foreign exchange and derivatives trader in the Financial Market Department of Industrial and Commercial Bank of China. Joined Harvest Fund in 2015 as an index researcher in the index investment department and later as a fund manager in the index investment department. In April 2019, Wind began to manage the Harvest Growth Enterprise Market ETF, and then successively managed the Harvest Emerging Technology 100 ETF, Harvest FTSE China A50 ETF, Harvest Advanced Manufacturing 100 ETF, Harvest Pharmaceutical Health 100 ETF and many other index funds. The longest management time is just More than 2 years. Since the beginning of this year, in the new fund products issued by Harvest Fund, Gao Feng has served as a number of indexes such as Harvest CSI Shanghai, Hong Kong and Shenzhen Internet ETF, Harvest CSI Software Service ETF, Harvest CSI Agricultural ETF, Harvest Hang Seng Technology ETF (QDII), etc. The fund manager, including the Harvest Hundsun Technology ETF under its management, has only 37 days from its establishment on May 26 to its official resignation on July 2. In the fund manager change announcement announced on July 2, the reason for Gao Feng’s resignation was shown as personal reasons. Generally, seeing such announcements, most speculations will tend to change jobs to other fund companies, or the common fund managers “run privately.” However, an announcement by the China Securities Regulatory Commission for 2021 to be hired in accordance with the Civil Service Law to manage the staff of public institutions shows that Gao Feng is on the list of plans to be hired. The unit is “The Issuance Supervision Department of the China Securities Regulatory Commission” and the position is “Level 1 Chief Officer of the Seven Supervision Departments”. And below”, the original work unit is shown as Harvest Fund. This also really revealed the real reason for Gao Feng’s resignation, not to go to other fund companies or to “run privately”, but to choose to become a civil servant. The pressure of fund managers is in the proposed recruitment list. The reporter also noticed that, in addition to Gao Feng, the personnel from fund companies and securities firms include Zheng Yuan from the former Industrial Securities, Li Wei from the former E Fund Fund, and from the former Huitianfu Fund. Yang Bingqing, only Gao Feng is a fund manager who has managed products for many years. An industry insider who knows the peak said: “Maybe I feel too tired, but the index should be easier than stocks.” Others in the industry think: “Compared to fund managers, the position of the issuance supervision department is better than that of index fund managers. To be more attractive.” In fact, in the eyes of most people, fund managers are still a very good job, and their income is relatively optimistic. They are known as the “golden collar” of the financial industry. If they do well, they can earn some income. Over ten million. However, the reporter also learned that although the income of fund managers is good, the pressure they face is also huge. On the one hand, it comes from the pressure of internal assessment, and on the other hand, it comes from the pressure of investors. Especially in some head fund companies, the pressure is even greater. Another person from a fund company said when talking about their company’s assessment: “Our assessment cycle for fund managers is relatively long, usually as long as five years, but if a fund manager has not come out in five years, then we will also I wonder if he is suitable to be a fund manager. “In addition, there are many fund companies that use the last elimination system, which shows that the pressure on fund managers is not small. Of course, on the other hand, the funds that fund managers face are often billions, tens of billions, or even hundreds of billions. The requirements for fund security and the ability to invest also determine that this position is always under pressure. In the case of more and more fund companies adopting various incentive methods, the returns and achievements they can obtain are often relatively equal. Reporter|Huang Xiaocong Editor|Ye Feng Lu Xiangyong Proofreading by Wang Jiaqi|Sun Zhicheng

yahoo898
6 months ago

Strictly speaking, the China Securities Regulatory Commission is a public institution managed with reference to the Civil Service Law. It belongs to the establishment of an institution and is not a civil servant. It’s just that the treatment is exactly the same as that of civil servants. Who can be admitted to the China Securities Regulatory Commission is not a domestic first-class talent, 985 started abound. Putting them in any position can achieve their fullest potential. The CSRC is like the father of Party A’s father. Why don’t you get admitted? It’s like the Big Four, the Eighth Big, and the Audit Bureau. Imagine joining the Securities Regulatory Commission to accumulate contacts and various resources, and want to go out of the city to improve more than one level. Moreover, the work pressure is suddenly reduced, and the hidden income is greatly increased. Finally, talk about how vulgar money is!

leexin
6 months ago

It is only Gao Feng’s personal career choice for fund managers to take public examinations and become members of the Securities Regulatory Commission. It is not a “revolving door” situation, and there is nothing to discuss. What we want to prevent is that financial practitioners bypass the public examination and become financial supervisors, and what we want to prevent is the situation that financial supervisors resign and do not set a confidential period to directly take up positions in the financial industry. This is the real “revolving door”, breaking the rules and violating fairness. Master of Finance at Peking University and CFA. Ordinary people don’t need to interpret the career choices of Tianzhijiaozi. The peak people will not care about the so-called “golden rice bowl” and “iron rice bowl” because they have the ability to change lanes at any time. He can leave his job as a fund manager in 37 days, and one day he may jump out of the Securities Regulatory Commission and go to other professions. What is unavailable is always in turmoil, and what is favored is perseverance. What’s more, the favored Jiaozi tend to be more adaptable to the rules and have a clearer career plan than ordinary people. They know what they need and can achieve their goals. This is the real human reality.

greatword
6 months ago

Going to the Securities Regulatory Commission is not an ordinary public examination. You can’t compare it to the neighborhood committee. People go to the top authority in China’s financial industry, not the iron rice bowl. Therefore, people are not after the rice bowl but power, something that a fund company can never give. What’s more, fund managers claim that the golden rice bowl is just a high salary. The price-performance ratio is not necessarily high. Earning 400,000 yuan in the morning and evening is not better than earning 600,000 yuan in 007. When the age is old, there is time and energy to work overtime, not to mention others. There must be a real shortage of hundreds of thousands of dollars, and with the arrival of the impact of the epidemic, fund companies will not issue or pay less year-end bonuses. It is common to rely on basic wages. It is true that you may not earn more than the CSRC. Party B’s status is even greater. This lowers the sense of happiness at work, especially when I encounter an unreliable Party A, I really want to be Party A by myself, so this choice is fine. It is not recommended for simple public examinations, but it is recommended by top authorities such as the China Securities Regulatory Commission.

loveyou
6 months ago

The fund manager’s income may not be ideal. But even if it is ideal, there may be many reasons: 1. Harvest has had a team turmoil a while ago, and has been going downhill for many years, and has already withdrawn from the first echelon. 2. The company’s system is unreasonable, and performance does not match returns. (General phenomenon) 3. The total scale of actual management is not considerable. 4. It may have been messed up when taking office. 5. Offending/ embarrassing people within the company. 6. Poor performance. Fund managers have a lot of responsibilities and pressures, and all the above will affect the work experience. If the performance is not stable enough, it is very common to go passively after two years. The Supervision Division of the Issuing Department of the China Securities Regulatory Commission is a bad one, and cannot be benchmarked solely on the basis of revenue. Even if it remains clean, the work experience is far better than that of a fund manager. With a layer of gold plating and jumping back to fund companies/securities companies as middle- and high-level leaders, the feasibility of saving the country through this curve is much higher than that of winning. Most of them cannot be made. In other words, advancing can attack and retreat can defend, if it is not a heavy burden of life, jumping into the club is actually a very smart choice. The media spotlight is a bit too sensitive

strongman
6 months ago

The fund manager of Peking University who once “held” RMB 1.47 billion resigned because he was admitted as a civil servant 15:26. Recently, there has been a story in the fund circle: a fund manager who graduated from Peking University managed index funds for a few years and was not large in scale. As a result, the fund manager was admitted to the civil service and quit his job. The Red Star Capital Bureau found through public information search that this may not be a joke, but a real thing. The Red Star Capital Bureau noted that in the list of prospective recruits disclosed by the China Securities Regulatory Commission a few days ago, there are a total of 3 prospective recruits from fund companies, namely Harvest Fund, China Universal Fund and E Fund. From the fund company to the China Securities Regulatory Commission, the people came from E Fund, and some were from Harvest Fund. According to the official website of the China Securities Regulatory Commission, 87 people were identified as the staff of the participating public companies through written examinations, interviews, physical examinations and inspections in accordance with relevant requirements. The list of the first batch of candidates to be recruited was announced in mid-May. The Red Star Capital Bureau looked through the above-mentioned list and found that the original work units of the three proposed employees were fund companies, involving Harvest Fund, China Universal Fund and E Fund. Gao Feng, male, majoring in finance (master’s degree), his original work unit was Harvest Fund Management Co., Ltd., and he plans to be employed by the Issuance Supervision Department of the China Securities Regulatory Commission. His position is the first-level chief staff member of the Seventh Supervision Department and below. Yang Bingqing, female, majoring in information management and information systems (master’s degree), the original work unit is China Universal Fund Management Co., Ltd., plans to be hired by the Shanghai Supervision Bureau of the China Securities Regulatory Commission, and the position is the first-level chief officer of the computer supervision post in the jurisdiction And below. Li Wei, male, majored in accounting (master’s degree). The original work unit was E Fund Management Co., Ltd., and he plans to be hired by the Guangdong Regulatory Bureau of the China Securities Regulatory Commission. The position is the first-level chief officer or below of accounting supervisory positions in the jurisdiction. The screenshots are from the documents of the China Securities Regulatory Commission. There is not much relevant information that can be found about Yang Bingqing and Li Wei, or they have not worked as fund managers in fund companies, but do other work. However, Harvest Fund does have a fund manager named Gao Feng, and the information disclosed by the fund company and the aforementioned information disclosed by the Securities Regulatory Commission can match the number. The Red Star Capital Bureau noticed that after entering “Gao Feng” on the online customer service page of the Harvest Fund’s official website, an introduction about Gao Feng will automatically pop up: “Gao Feng, a master’s degree student, with fund qualifications, a master’s degree in finance from Peking University, and a chartered financial analyst ( CFA). Joined Harvest Fund Management Co., Ltd. in 2015 as an index researcher in the Index Investment Department, and currently serves as a fund manager in the Index Investment Department.” Before leaving, he managed 11 funds. The fund’s customer service told the Red Star Capital Bureau that there is no information about the fund manager Gao Feng, but he does not know the specific time of his departure. The customer service said that at present, all the funds managed by Gaofeng are handed over to other fund managers for management, and Gaofeng “no longer manages since July 2nd.” As for where the peak went after leaving, the customer service said it was unclear. Regarding the introduction about “Gaofeng” that popped up on the online customer service page, the customer service said, “This may not have been updated.” The Red Star Capital Bureau noted that according to the previous introduction of Gao Feng from Harvest Fund, he joined Harvest Fund in 2015 as an index researcher in the index investment department, and then became a fund manager in April 2019. According to the information that has not been updated by Harvest Fund, there are 11 funds under “current” management of Gao Feng, namely: Harvest H-Share Index, Harvest Gold, Harvest Zhongguancun A-Share ETF, Harvest FTSE China A50ETF Link A/C, Harvest FTSE China A50ETF, Harvest Growth Enterprise Market ETF, Harvest Emerging Technology 100 ETF, Harvest Emerging Technology 100 ETF connected with A/C, Harvest Advanced Manufacturing 100 ETF, Harvest Pharmaceutical Health 100 ETF, H-share 50 ETF. The Red Star Capital Bureau inquired about the above-mentioned funds on the official website of Harvest Fund, and their fund managers have been replaced, and there is no information related to the peak. In addition, the Red Star Capital Bureau conducted incomplete statistics on the information on the official website of Harvest Fund. As of December 31, 2020, the net asset value of the above-mentioned funds managed by Gao Feng before his departure was approximately 1.471 billion yuan. According to Tiantian Fund.com, during the peak period of his tenure, the best fund he managed returned was 90.83% (Harvest GEM ETF), and the worst fund return was -12.90% (Harvest CSI Shanghai-Hong Kong-Shenzhen Internet ETF).

stockin
6 months ago

To be admitted to the China Securities Regulatory Commission, that is also the existence of powerful people, “Athletes directly become referees”, and after all, the China Securities Regulatory Commission is a Gwy ministerial-level public institution (council), used to manage the national securities and futures market, in the long run , This platform offers more opportunities than being a fund manager. No wonder many partners say: the end of the universe is the public examination, so there is really no need to be surprised~ The civil servants of the CSRC have to take the national examination and the application test. , There are also professional subject examination requirements, and then to the interview, after the levels of barriers, it is really not easy to pass the exam~ Of course, the China Securities Regulatory Commission is also a unit that many financial partners want to enter… 2021 can be said to be yes A very hot year for public examinations may have continued the impact of the 2020 epidemic. Nowadays, more and more people are taking public examinations, and the internalization of civil service examinations is also intensified. Therefore, I saw that Peking University masters resigned from the fund because of public examinations. To be honest, I didn’t think there was anything wrong with the position of manager. After all, they were tested by the Securities Regulatory Commission. After all, the profession of civil servants: First, the job is very stable. Civil servants are commonly known as “iron rice bowls”, and the administrative staff can be said to be the most stable occupation. There is no need to worry about being forced to lose their jobs. However, in the fund industry, stability is not guaranteed~ Xiaoqi used to study together for public examinations. Many of the partners I would know had good income before the public examination. But as the age grows, the big guys tend to be more inclined. In order to find a stable job, many will choose to take a public examination. Second, it has a certain social status. The career of a civil servant is a decent job and it is very versatile, whether it is in a small county or a big city. Especially in the eyes of parents, most of them want their children to become civil servants. The third is the high platform. Choosing to become a civil servant is not just a career, but more importantly, you choose a platform, especially the higher the level, the higher the platform, which is very good for your life experience and growth. For example, fund managers and civil servants of the Securities Regulatory Commission, the people, resources, and things you come into contact with are different. As a civil servant, you are the policy maker or executor to some extent, but as a fund manager, what you have to think about is to help your customers or make your products more competitive within the existing framework. In contrast, what would you choose? Fourth, good welfare benefits. Why did the master of Peking University choose a civil servant, and it was the China Securities Regulatory Commission who went to see others. Although the income of civil servants of ministries and commissions is really not comparable to that of fund managers, or even far behind, the benefits are still very acceptable. Let’s not talk about income, because the salary of civil servants in ministries and commissions is really low and very helpless; but other benefits such as housing, medical care, and education are really good. In terms of medical treatment, the rate of reimbursement for non-leading cadres is 95%. Hospitals in Beijing can go to any one of them. (Compared with Beijing Medical Insurance, which has only four fixed points, it is really good. Although the fixed points can be adjusted, it is still troublesome. ), the unit’s medical room also has ordinary medicines that can be obtained free of charge; the housing has the benefits of renting public rental housing and allotment of welfare housing. Although welfare housing is eligible for queuing only at the deputy department level or above, it is necessary to make a deputy office in the ministries and commissions. It is easy, and the price of public rental housing is also very beautiful. Just this year, a new batch of public rental housing in Xisanqi has been released. Anyone who does not have a house under the name can apply, and there are also educational resources for public rental housing; education is not available. A few units also have political insurance, for example, those with household registration in the unit can coordinate their children’s enrollment. Just a few days ago, the Xicheng School District’s house exploded, because many children who bought houses in Desheng and Financial Street after 731 were transferred to slag schools, that is, if you buy a school district house, it may not guarantee that your children will go to a good school. Yes, but if your unit has political security, you don’t have to worry about it, because your children don’t have to participate in these so-called lotteries and ranks, because the unit will coordinate this matter… Let’s talk about the most realistic problem. If you are a fund manager, you may not even have a Beijing account. Although you can settle down through points, but the time is too long, and you have passed the examination of the China Securities Regulatory Commission, you basically have everything. Isn’t that fragrant… So, compare Fund managers earn a lot of money, but in terms of long-term development, which is better, you can think of it without comparison… Such a good unit, everyone wants to get in.

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