From: “Shanghai Securities News” by Reporter Wang Wenqing
Compiler: Fund China

Since the beginning of this year, some outstanding Public-fund managers have left the fund companies, the main destination of Private Funds Will this affect the Fund’s investment performance and the development of the industry? To this end, we interviewed the general manager of the Jiashi Fund Dr. Zhao Xuejun.

Reporter: Since the beginning of some of the more experienced Public-fund managers have switched to do private placement, how do you view this issue?

Zhao Xuejun: We think this is the development of the fund industry in the process of the temporary challenges, the industry will not affect the sustained, rapid, healthy trend of development. First, they have switched to the private placement fundamental reason lies in the current Public-fund governance structure disadvantages, not so with the incentive mechanism of fund managers to pay, and better results in charge bull market but also to some extent on the amplification of the drawbacks of such a mechanism. However, the management structure can be improved, incentive mechanism can be adjusted, so the challenge is only temporary. Secondly, the Public-fund the competitive edge from a good system, trusteeship system and transparent information disclosure system to ensure that the Public-fund continued rapid development. China’s economic development brought about by the increased wealth and financial needs of the upgrade also promote the development of the fund industry, Today, the fund industry has managed assets of 1.8 trillion that in the near future may be more than the insurance industry assets, We are and will continue to attract more and more senior personnel.

Reporter: The market also recently came out of Jiashi some fund managers switched to a rumor that the rumors were true?

Zhao Xuejun: Recently Fenghe fund manager Zhao Jun, and the theme selected Jiashi fund manager Wang Guiwen to the company of separation applications, is currently performing the procedure. In their application for leave to enter the relevant procedures, in order to ensure the normal investment fund, We on the Fund’s investment team then made adjustments and arrangements, the large number of specific investors concerned at the recent notice. There is also a rumor said Shao Jian to leave, this is not true, At present, he said the company failed to leave any thoughts, nor has turned to the private placement arrangement.

Reporter: Their departure will affect Jiashi under the Fund’s performance?

Zhao Xuejun: The role of the fund manager is very important, but the investment performance of the Fund is constituted by the collection of information, business valuation, investment decision-making, implementation of a series of transactions effective work can be realized. Jiashi powerful platform for research in making access to information on the mining and strength, Industry analysts in the valuation and rating for the fund managers to provide a powerful decision-making support. Jiashi past in a single stock on the condition most profitable units — China Merchants Bank, Shanghai airport, Hudong Heavy Machinery, industry analysts are OCT – depth research, valuation, recommended by the results, just the accumulated profit exceeded 2 billion. In addition, guests also come from investment performance systems, risk control, team ideological collisions, Jiashi current research team voted over 50 people, which is almost the largest of the team, accumulated over the past eight years has been a relatively sound investment process and management system. Even in the short term, our performance has not been affected. As of the first half of Jiashi, with a rating Mornstar qualified seven open-end fund, is a five-star rated, the other six were all four-star.

Reporter: Looking to the future, how do you think Jiashi holders to create sustainable good performance?

Zhao Xuejun: We right holders for continued excellent performance to create confidence, mainly because of the following : First, Fund companies incentive mechanism for talent deficiencies will be perfect, Jiashi adoption of key staff retention plan deferred cash incentive plan and policy to allow the equity incentive plan and other means to retain talent. Second, in the past eight years of the development process, from the real hand-controlled descent fund managers, from industry analysts to grow up to the fund manager, to the future with the international system of training professional fund managers, Jiashi once again achieved the ability to invest in upgrading and updating of fund managers. Third, in order to become a Chinese company investment experts vision Jiashi is the building of a powerful investment research team, the ongoing international background talents to join Jiashi, We have also adopted the German assets and the staff training and exchange projects reserve a number of highly potential investment staff, They are Jiashi to create sustainable and stable performance guarantee.

Copyright Fund China 2009.

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