The eve of a long holiday has always been a time window for public funds to announce important personnel changes. Beginning in mid-September, well-known fund managers announced their departure one after another, including Han Chuang, manager of Dacheng Fund's 10 billion equity fund, and Shao Jie, a core member of the China-Europe Fund Technology Team. In recent years, the number of public fund managers leaving office has been increasing year by year. According to Wind data, as of September 29, 350 public fund managers had left office during the year. Among them, there were 34 outgoing fund managers with management exceeding 10 billion yuan, involving 1.4 trillion yuan of public offering products. The above statistical standard is a complete departure or liquidation of products in management, excluding fund managers who have left only some products and remain on the front line of investment and research. In fact, “burden-reducing” stepping down is not uncommon in recent years. Behind the contraction and migration of fund managers is the repricing of talent as the industry shifts from large-scale expansion to high-quality development. What is driving this repricing is multiple forces coming from different directions. The new assessment regulations reshape performance standards, pay restrictions adjust the incentive structure, and platform competition affects talent flow. The three act separately on evaluation, motivation, and competition.

The eve of a long holiday has always been a time window for public funds to announce important personnel changes. Beginning in mid-September, well-known fund managers announced their departure one after another, including Han Chuang, manager of Dacheng Fund's 10 billion equity fund, and Shao Jie, a core member of the China-Europe Fund Technology Team. In recent years, the number of public fund managers leaving office has been increasing year by year. According to Wind data, as of September 29, 350 public fund managers had left office during the year. Among them, there were 34 outgoing fund managers with management exceeding 10 billion yuan, involving 1.4 trillion yuan of public offering products. The above statistical standard is a complete departure or liquidation of products in management, excluding fund managers who have left only some products and remain on the front line of investment and research. In fact, “burden-reducing” stepping down is not uncommon in recent years. Behind the contraction and migration of fund managers is the repricing of talent as the industry shifts from large-scale expansion to high-quality development. What is driving this repricing is multiple forces coming from different directions. The new assessment regulations reshape performance standards, pay restrictions adjust the incentive structure, and platform competition affects talent flow. The three act separately on evaluation, motivation, and competition.