Every reporter, Li Na, every editor, Zhao Yun.

The star fund manager of a small fund company left.GalagamecomThe impact on its products is undoubtedly enormous.

The latest release of the quarterly report of 2024 shows thatGalagamecomThe eight funds that Fan Yan left office were redeemed one after another in the first quarter, with shares of eight funds up from 118 at the end of 2023.Galagamecom.3.9 billion to 97.Galagamecom0.01 billion shares, a total of 2.138 billion, the share fell by 18%, and the size of the fund also dropped from nearly 17 billion yuan to around 12.8 billion yuan.

A reporter from the Daily Business News noted that, in particular, the share of Yuanxin Yongfeng premium living fund previously managed by Fan Yan fell from 1.392 billion at the end of 2023 to 594 million on March 31, 2024, with a net redemption of 798 million shares, a decline of more than 57 per cent.

The share of products has shrunk by more than 57%.

At the beginning of March, the news that Fan Yan left Yuanxin Yongfeng Fund spread for a time, which was finally confirmed in April.

With the disclosure of the first quarterly report of public offering funds, the redemptions of the eight funds managed by them in the first quarter also surfaced.

As expected by the market, these funds have been redeemed to varying degrees. During the first quarter of 2024, the share of the eight funds fell from 11.839 billion at the end of 2023 to 9.701 billion, a total of 2.138 billion shares, or 18 per cent, according to Wind. The size of the fund has also dropped from more than 17 billion yuan to around 12.8 billion yuan.

Specifically, the Yuanxin Yongfeng premium life managed by Fan Yan became the most redeemed fund of the company in the first quarter. According to the quarterly report, the share of the fund was 1.392 billion at the end of 2023, leaving only 594 million at the end of the first quarter of 2024, with 798 million net redemptions, or 57.34 per cent of net redemptions.

This is also the first time that Yuanxin Yongfeng premium living fund has fallen below the 1 billion mark since the end of the second quarter of 2021. At the same time, the fund's assets shrank from 2.871 billion yuan to 1.184 billion yuan, a decline of more than 58 per cent.

In addition, the Yuanxin Yongfeng excellent fund managed by Fan Yan also suffered a large proportion of redemptions. The total size of the fund fell to 482 million from 802 million at the end of 2023, with net redemptions of about 320 million, or 39.89 per cent, according to the quarterly report. Specifically, the net redemption of An and C shares of the fund exceeded 130 million in the same period. The size of the fund also fell from 1.471 billion yuan to 858 million yuan, a drop of more than 40 per cent.

It is worth noting that the BoCom all-Star Investment combination announced on April 2 in the warehouse operation, Yuanxin Yongfeng Zhiyou mixed A was cleared.

According to Yuanxin Yongfeng's quarterly report, the fund's share fell to about 298 million from 425 million at the end of 2023, with net redemptions of about 127 million, or 29.79 per cent.

Yuanxin Yongfeng Fund slips down the rankings

It is worth noting that Fan Yan participated in the management of the mixed secondary debt base also encountered obvious redemption. Yuanxin Yongfeng's quarterly report on strengthening its income debt base showed that the size of the fund fell from 1.802 billion to 1.387 billion, a 23 per cent decline in its share.

Previously, the share of Yuanxin Yongfeng Youjia living Fund, the largest fund managed by Fan Yan, shrank by 13.3 per cent from 1.572 billion at the end of 2023 to 1.363 billion. The size of the fund fell below the 4 billion yuan mark from 4.655 billion yuan at the end of the fourth quarter of 2023, a decline of 16%.

In addition, Yuanxin Yongfeng Xingyan, Yuanxin Yongfeng Juyou, Yuanxin Yongfeng Xingnuo hold the share of three funds in varying degrees.

In addition to Fan Yan's past fund management has shrunk to varying degrees, Yuanxin Yongfeng Fund's management scale also declined in the first quarter.

According to Wind data, as of the end of March 2024, Yuanxin Yongfeng Fund ranked 95th with assets under management of 35.6 billion yuan. By the end of 2023, Yuanxin Yongfeng Fund's public offering size was 38.416 billion yuan, ranking 91st, which also means that Yuanxin Yongfeng Fund's public offering ranking has declined.

In addition, the total share of funds managed by the company was 31.585 billion, down slightly from 31.964 billion at the end of 2023, according to data. In terms of all types, currency funds are the key, increasing their size to 5.511 billion from 3.264 billion at the end of 2023. The decline was mainly due to hybrid funds, which fell from 10.455 billion to 8.545 billion.

A public offering fund personage in Shenzhen told reporters that for small fund companies, the departure of star fund managers has a greater impact than large fund companies. Public offering fund competition is fierce, not to advance is to fall behind, the road in front of fund companies is even more bumpy.