Is the investment director taken away? Huatai Bairui Fund responds with personnel | Company | Bairui
On the evening of June 30th, Huatai Bairui website issued a solemn statement stating that all investment personnel of the company are currently working normally.
The statement pointed out that Huatai Bairui Fund Management Co., Ltd. has found false information about the company's investment personnel spreading on online platforms such as WeChat and Weibo. Currently, all investment personnel of the company are working normally. For those who spread rumors maliciously, damage the reputation of the company and employees, and endanger the normal order of the capital market, the company reserves the right to further pursue their legal responsibilities. Investors are advised not to trust rumors lightly.
Previously, on the evening of June 30th, a financial blogger revealed on Weibo that a public fund manager had been taken away, and claimed that the Shanghai fund circle was afraid of an "earthquake". A user in the comment section replied that the public fund was Huatai Bairui Fund. On the same day, a screenshot circulated within the circle, which matched the above content and seemed to be the source of the disclosure.
Public information shows that Huatai Bairui Fund was established in November 2004 and was one of the first ETF managers in the market. As of the end of the first quarter of 2023, its management scale exceeded 300 billion yuan. According to association data, the company ranked among the top 20 in the industry in terms of daily non commodity scale in the first quarter. Data shows that the company's ETF management scale exceeds 120 billion yuan, ranking among the top three in the industry.
In terms of performance, in 2022, 70% of the funds managed by Huatai Bairui Fund experienced losses, while 20 equity funds experienced a decline of over 30%.
Reputation risk needs to be properly addressed
With the accelerated development of the public offering industry, every move of fund companies has received close attention from investors. At the same time, social media platforms have accelerated the speed of news dissemination, and market rumors will soon stir up waves.
Industry insiders have found that many fund companies will take a "cold approach" when encountering negative rumors or news, and all responses will be based on announcements. In hindsight, such a response is also a relatively effective coping strategy.
In order to improve the risk management system of fund management companies, promote the establishment of industry reputation constraint mechanisms, maintain industry image and market stability, in June 2022, the China Securities Investment Fund Industry Association formulated the "Guidelines for Reputation Risk Management of Fund Management Companies" in accordance with relevant laws and regulations and self-discipline rules, drawing on domestic and foreign regulatory practices, and combining with the actual situation of the fund industry in China. Clear requirements were put forward for the responsibilities, systems, mechanisms, and other aspects of reputation risk management.
In this regard, Fangda Law Firm believes that due to the fact that public funds are facing public investors, a large number of public investors may not have professional knowledge about the operation rules of public funds. Many doubts and complaints about fund companies may not be true, but even if they are false statements or reports, allowing the situation to develop will also damage the brand value of fund companies, so it is necessary to deal with them properly.
In addition, Fangda Law Firm reminds that public funds have always been favored by investors in asset management products due to their strict investment restrictions and relatively standardized operations. In recent years, the development trend has been rapid, but illegal activities such as insider trading, trading of undisclosed information, and market manipulation still occur from time to time, which will have a huge impact on the reputation of the entire public fund industry. Fund companies should not only implement internal controls to prevent the occurrence of such incidents, but also develop appropriate response plans if they become involved in such incidents.
Zhongxin Jingwei Comprehensive Information from the official website of Huatai Bairui Fund, China Economic Net, securities firm China, and China Securities Journal