2013 Outline Of China Asset Management Talent Strategy Seminar

< p > with the rapid development and deepening opening of the financial market, the asset management industry is facing a broader space for development. It is also facing the increasingly fierce competition in the mixed operation era. Talents have become an increasingly important key topic.

In December 5th, the "2013 China asset management talent strategy seminar" jointly sponsored by China Securities Journal and China Merchants Fund was held in Shenzhen. Unlike previous discussions on the market of economic research, the conference focused on the topic of talent flow, and discussed how to break through the dilemma of talent flow through innovative measures, explore the right way to retain talents, and promote the steady development of the asset management industry.

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At P meeting, the report on China's fund industry mobility report released by Haitong Securities showed that from 1998 to October 10, 2013, all 1548 managers with "a href=" //www.sjfzxm.com/news/index_cj.asp < < /a > "had accumulated records, and a total of 773 fund managers had left their posts (not including changes in the management fund with the company).

Of the 775 fund managers who have no experience of leaving and are still on the job, 49.81% of the fund managers are on the job for less than 2 years.

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< p > the reality of high mobility of the industry is worrying the industry.

Representatives from funds, brokerages, private equity and other asset management organizations have carried out a forum dialogue on the two topics: "shaping the fund's investment capability" and "the talent management of fund companies".

The distinguished guests generally agreed that the core of the industry is a href= "//www.sjfzxm.com/news/index_cj.asp" > Asset Management > /a > the ability of research and development, and the ability of research and development depends on the strength of talents. Therefore, the problem of talents affects both the industry and the industry.

In the future, the asset management industry represented by fund companies needs long-term and rational performance appraisal, open and fair work platform, team building with mobile collaboration, and flexible and reasonable incentive mechanism to attract and retain high-quality talents for holders.

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< p > in fact, as one of the organizers, China Merchants Fund has begun implementing innovative measures to attract talents in the middle of this year.

In August, the investment fund, the global investment management elite, launched the "investment studio" program to provide value innovation platform and benefit sharing mechanism for Yingjin, which meets the requirements of the Merchants Fund and shares the same business with the Merchants Fund.

Wang Xiaodong, deputy general manager of China Merchants Fund, said at the meeting that China Merchants Fund set up a "investment studio" and an investment team this year through adjusting and optimizing the company's resource allocation, so as to establish a long-term quantitative assessment mechanism matching product positioning.

"Investment studio" is a talent management system established to accommodate the diversity of investors. Under the premise of wind control compliance, those who have rich investment experience, excellent long-term performance, investment philosophy and mature investment style can choose and design products that meet their own expertise in this mechanism. The company provides them with full services, including asset raising, research pactions, < a href= "//www.sjfzxm.com/news/index_cj.asp" > risk < /a > management, customer service and other non investment areas of services, and allows appropriate income sharing mechanisms to be put forward according to their own circumstances.

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< p > > strong > wind and matter should be looked at in good quantity -- good talent environment and long term investment ability < /strong > /p >

"P" is different from the manufacturing industry's support from product supply chain and perfect market. It is also different from high-tech enterprises to promote the growth of companies by technological innovation. The asset management industry is a platform for bringing together talents, relying on good wind control management system to provide investors with a good return on investment, so as to get investors' popularity.

Therefore, the essence of asset management industry is the competition of investment ability, and the core of investment management ability is talent.

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< p > for fund companies, a good talent environment and long-term investment ability are inseparable and complementary.

Wang Xiaodong, deputy general manager of China Merchants Fund, said that if a Asset Management Co is good at finding talents, retaining talents and making good use of talents, it must constantly upgrade and improve its framework, equipment, norms, organization and management, and asset management, so as to provide excellent talents with good career planning and competition channels, and enable outstanding talents to grow continuously on this platform.

Talent strategy is not only the one or two outstanding investors, but a team, a unified concept, diverse styles, distinct levels, excellent performance team.

Excellent investment managers bring good investment performance to the company, enhance the company's popularity and customer loyalty, and further enhance the company's asset management scale.

Therefore, the fund company should strive to create a good environment for employing people, bring together excellent talents, make good use of excellent talents, and achieve a positive interaction between excellent talents and the growth of the company through carefully tailored talents strategy.

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Hu Lifeng, the head of Galaxy Securities Fund Research Center, said, "to do business is to climb mountains, to be top of the road, to create better results to defeat their opponents, and investment is a long-distance race. Long distance running is a long time and two is jogging. For talent strategy, information management industry needs to find a way to run in accordance with the law." P

At present, the company with better investment ability has two characteristics. First, it forms a relatively stable and continuous investment culture and investment system and process; two, the company's CEO investment research management capability is consistent and the examination time is longer.

Why did Buffett succeed? First, the company is his own; the two is that the performance appraisal time is long enough for professional people to do professional work.

Fund managers are engaged in creative and professional work. They must give them enough respect and creativity, create a relaxed environment for him, and they will have better performance in time.

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< p > Huang Xiaoping, chief financial analyst of CITIC Securities Research Department, believes that the stability of fund managers' performance is particularly important.

In fact, for five consecutive years in the industry, fund managers with annual performance in the top 1/3 are basically rare, and fund managers who have remained in the top 1/2 for five years have been excellent.

Looking at the investment ability of fund managers, besides the time and the stability of performance, we need to explore whether there are contingencies in the performance of the performance and whether the performance can continue. This requires examining the experience of the fund managers and their understanding of the industry, the team behind them, and the investment culture of the company.

People make mistakes, but a good investment process allows individuals to reduce the rate of error and increase the winning rate as much as possible.

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< p > Lv Yifan, deputy general manager and chief investment officer of China Merchants Fund, said that the evaluation of investment ability itself has a relatively mature method in international circulation. There are two core points: first, the performance is more prominent among the similar varieties; the two is that this capability is sustainable.

The domestic problem is that the evaluation of different investors is different. QFII, insurance, social security and other institutional investors basically carry out scientific evaluation according to the international mature ideas. The performance of the national social security in the past ten years is very good, which fully illustrates this point.

But many times, the evaluation method of public offering fund is more like a star. For example, the fund managers who earn 50% in the first year and lose 30% in second years will receive more attention and reputation than the fund managers who earn 10% every year. In fact, two years later, they earn 20% and second earn only 5%.

As a company, the investment fund is gradually changing to professional methods, including assessment methods to adopt professional methods as much as possible, abandon noise, and let fund managers have better environment to invest.

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Gao Daode, deputy director of Haitong Securities Research Institute, also emphasized in the discussion that fund managers need full respect and help to maximize their strengths and curb weaknesses. P

In performance evaluation, more attention should be paid to the stability of fund managers rather than short-term performance.

As a research team, we should reduce the negative interference to fund managers. When analyzing the investment behavior of fund managers, fund companies need to determine whether they will cause investment offset because of pressure.

In general, the fund company should create an atmosphere in which everyone works hard, criticize less and encourage more.

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< p > < strong > no matter how talented people are -- innovative talents mechanism to improve the level of talent management < /strong > < /p >

< p > fund managers, as high-end a href= "//www.sjfzxm.com/news/index_cj.asp" > Finance < /a > talents, have higher pursuit of their own development.

The participants thought that in order to attract talents, use talents and retain talents, they should use flexibly the salary system, incentive mechanism, interest binding and other measures. More importantly, we should look at the talent issue from the perspective of development and dynamic, dare to innovate, break through the bondage of "old rules", and build a platform that can fully support and develop the talent team.

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< p > for the high mobility of fund industry talents, Yang Ling, general manager of star stone investment management company, believes that the public fund industry is a developing industry. When an industry is in the stage of rapid development, it is normal for high-speed talents to flow.

Over the past decade, new funds have been generated, and the industry tends to choose experienced management. This development inevitably leads to the flow of talent, which is irresistible, but the future will gradually stabilize.

For fund companies, there should be a very clear talent system to cope with the flow of talent.

When recruiting people, they should "recruit people by post" instead of post adjustment according to the situation of talents.

There are assistants and assistants at the main posts, and there will be more talents in the process.

In terms of talent management, remuneration, equity incentive, fund and investment are good ways, but the most important thing is to clarify the target position of company development, and then decompose the whole investment research system to find suitable development path.

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< p > for the way of talent motivation, the participants discussed the ways of "delayed payment, fund managers bound purchase management fund and incentive equity", and thought that incentive assessment was dynamic, and could not be applied to all companies in the same way, and for each manager, their strategic positioning and management incentive culture were different.

Lu Xiaojun, head of China capital market consultancy, said that fund companies are very important to distinguish different chronicles in the fund team: 1-2 years' fund managers need growth and opportunity; 3-4 year managers need more attractive salary and incentive mechanisms; for particularly senior fund managers, they value more environment, platform and freedom.

Therefore, the "investment group" of the investment fund is actually a very interesting trend. Each tier of fund managers has different appeals. The same idea can achieve better investment value or holders' value and create benefits for the company.

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< p > the evaluation and encouragement of fund talents can not be separated from the evaluation system of fund companies and fund talents' performance.

Wang Qunhang, deputy general manager of Jinxin company, believes that there is not an absolutely long, good and reliable indicator of the length of time that everyone recognizes.

From the current market reality, one year is OK, two years, three years, five years, and so on.

The difference is the proportion of each method.

In addition, only quantitative data ranking is not enough, combined with qualitative analysis.

For example, under the background of this year's market, it is difficult to manage the funds that invest in large blue chip stocks and manage funds specially investing in value stocks. It is necessary to have other quantitative methods and other qualitative methods to assist the evaluation at this time, otherwise it may be unfair.

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< p > Guo Leiqing, director of human resources of China Merchants Fund, emphasizes that fund managers are a relatively comprehensive group. We should pay more attention to their demands for their own development when we know astronomy and geography.

On the issue of talents, each company is subject to its own ability to pay, and the ability to pay is also subject to wealth, willingness to pay and the rules set before.

The trend of slowing down of the talent flow in the fund industry has begun to emerge.

In the long run, many fund managers begin to take investment as their lifelong career. The process of mobility depends on each fund manager's planning, cognition and new development and changes of his career.

Therefore, in assessing fund managers, more depends on long-term rather than a year or two.

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