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"Daily Economic News" reporter learned that after being involved in a labor dispute due to issues with the regularization assessment process, Beixin Ruifeng Fund has reported layoffs again. According to media reports, a person working at the front desk of Beixin Ruifeng Fund said that because he refused to be terminated by the company without reason, the company recently kicked him out without completing the resignation procedures and with unpaid wages. oa, email, DingTalk, WeChat group and other company work platforms. At the same time, Beixin Ruifeng Fund may intend to launch a round of layoffs in the near future.
In recent years, Beixin Ruifeng Fund has been criticized for its personnel issues. In October 2019, the company's first chairman Zhou Ruiming resigned, and less than two years later the first general manager Zhu Yan also left. A former employee of Beixin Ruifeng told reporters at that time that "company personnel have experienced A relatively big change." In August 2023, the former chairman of Beixin Ruifeng, Li Yongdong, and the former general manager, Zhao Yuanfeng, both resigned on the same day. It was reported that the various employee disputes and personnel turmoil during the year may have been affected to a certain extent by the changes that came with the new executives. The impact of "faction wars".
As a public fund company established in 2014, Beixin Ruifeng has not kept up with the rapid development of public funds in recent years, and its total management scale has dropped from 10 billion yuan to the latest 3.724 billion yuan. Among them, Beixin Ruifeng's stable-income debt fund plays the leading role. Its latest scale as of the end of the second quarter was 3.053 billion yuan, accounting for more than 80% of the total scale. However, the total scale of active equity funds is only 300 million yuan, and the problem of product structure imbalance is prominent.
Beixin Ruifeng has been rumored to lay off employees again. In recent years, personnel issues have been criticized.
Since this year, Beixin Ruifeng Fund has been pushed to the forefront many times due to personnel issues.
html In May, it was reported on the Internet that Beixin Ruifeng Fund was in arrears with employee wages. According to convention and company regulations, wages were supposed to be paid on May 15, but they were not paid on time. At that time, Beixin Ruifeng responded to reporters by saying, "The wages will be adjusted to 5 Issued at the end of the month." html In early July, Beixin Ruifeng Fund was once again involved in a labor dispute due to doubts about the regularization assessment process. At that time, an employee of Beixin Ruifeng broke the news that the company issued regular assessment notices to many employees who had expired their probation periods, and made regular assessment requirements that were not stated when signing the labor contract, which triggered heated discussions.Recently, according to the 21st Century Business Herald, a front-end business person from Beixin Ruifeng Fund told reporters that because he refused to be terminated by the company without reason, the company had not completed the resignation procedures with him recently, and he still had unpaid wages. Under such circumstances, they were kicked out of the company's work platforms such as oa, mailbox, DingTalk, and WeChat groups. The person also revealed that Beixin Ruifeng Fund may intend to launch a round of layoffs in the near future. The number of layoffs in this round is expected to reach double digits, while the company currently has only 81 employees.
Every time reporters asked Beixin Ruifeng Fund for verification many times, they received no response, and the company’s customer service phone number has also been busy.
Beixin Ruifeng was established in March 2014. It was jointly initiated by Beijing International Trust Co., Ltd. and Laizhou Ruihai Investment Co., Ltd.. The equity structure is that Beijing International Trust holds 60% of the shares and Laizhou Ruihai Investment holds 40%. The first chairman of
company is Zhou Ruiming, and the first general manager is Zhu Yan. Both of them have many years of experience in the financial industry. Zhu Yan also served as the inspector and deputy general manager in a public equity fund company. Since its establishment in 2014, Beixin Ruifeng's scale has been slowly and tortuously climbing upwards. By the end of 2018, it finally broke through the 10 billion yuan mark, reaching 10.5 billion yuan. In the first quarter of 2020, it reached 13.395 billion yuan. The highest peak in Yuan history. But what is unexpected is that the company's management scale has started to decline since then. In the third quarter of that year, it fell below 10 billion yuan and fell back to 8.36 billion yuan. It has never returned to the 10 billion level since then.
In the past few years, public funds have entered the fast lane of development, and the total scale of management has repeatedly set new records. However, Beixin Ruifeng Fund has not taken advantage of this development. While companies established in the same period have become tens of billions and hundreds of billions of companies, the management scale of Beixin Ruifeng has been hovering at several billion yuan.
At the end of 2019, Zhou Ruiming, who had served as chairman for 5 years and 5 months, resigned, and Li Yongdong took over as chairman; in October 2021, Zhu Yan, who had served as general manager for more than 7 years, also officially left Beixin Ruifeng, formerly Guodu Securities General manager Zhao Yuanfeng succeeded him as the new general manager. An insider told reporters that the reason for the resignation of the two executives may be related to the slow development of Beixin Ruifeng and the dissatisfaction of shareholders. Moreover, "the company's personnel have experienced relatively large changes" when they left.
But what is quite dramatic is that in August 2023, after Li Yongdong served as chairman of Beixin Ruifeng for more than three years and Zhao Yuanfeng served for only more than one year, Beixin Ruifeng issued an announcement saying that both of them would leave on the same day.
Not only company executives, but also fund managers are very liquid. Today, Beixin Ruifeng Fund has a total of 10 fund managers, 8 of whom started managing public fund products after 2020, with an average tenure of 3.62 years.
According to media reports, Beixin Ruifeng’s “current head of human resources department is a person brought by the chairman, but the people who have resigned or had disputes this year are mainly people brought by the general manager and old employees.” Therefore, various employees this year Disputes and personnel turmoil may be affected to a certain extent by the "factional strife" that comes with new executives.
Once focused on active equity products, now it relies on established debt funds to take the lead
After the establishment of Beixin Ruifeng, it first issued a bond fund and a currency fund, and then began to develop active equity products.
At the end of 2014, the company’s first equity fund, the Beixin Ruifeng Infinite Internet Theme Fund, was officially established. This is a flexible allocation fund, which obviously has high hopes from the company. Its scale reached 659 million yuan when it was established.
However, in terms of performance, after receiving a 49.66% return in 2015, Beixin Ruifeng Infinite Internet Theme suffered losses of 41.47% and 12.83% in 2016 and 2017 respectively, almost at the bottom of similar products; the fund size is also Subsequently, it declined sharply, and by 2016 it was less than 100 million yuan. It was liquidated at the end of 2017.
In fact, from March 2015 to the end of 2017, Beixin Ruifeng Fund continuously issued more than 10 active equity products, showing the layout of equity funds as the focus of development. However, according to wind data, many of these products have been liquidated, and those that are still running are also facing an embarrassing situation. At present, the company has 3 stock funds with a total scale of 100 million yuan, and 7 hybrid funds with a total scale of 216 million yuan. This means that the total scale of active equity products is only 316 million yuan. Among them, the largest one, Beixin Ruifeng Healthy Life Theme, has a latest scale of only 88 million yuan, and most other active equity funds have a scale of less than 50 million yuan.
This situation can’t help but remind people that Li Yongdong said in front of the media at the beginning of 2020, “It will take about three years to strive for the scale of non-monetary funds to reach the industry median level; it will take about six years to strive for the scale of non-monetary funds. Entering the top 1/3 ranks in the industry.”
In contrast, fixed-income products have always played a leading role in Beixin Ruifeng Fund. Take the company's currency fund Beixin Ruifeng Yitoubao b as an example. The scale of this product reached 2.673 billion yuan at the end of the first quarter of 2016. By the beginning of 2020, it once exceeded the 10 billion yuan mark and reached 10.650 billion yuan. However, consistent with the development trajectory of Beixin Ruifeng's management scale, the scale of this product subsequently fell off a cliff, and the latest scale was even less than 100 million yuan.
But what is lost is what is gained in the east. Since the middle of last year, the size of Beixin Ruifeng's stable-income bond base, another fixed-income product under Beixin Ruifeng, has been rising steadily. The latest size has exceeded 3 billion yuan. This year, it has successively issued announcements restricting large-amount subscriptions. , recently announced the suspension of subscriptions in order to ensure the smooth operation of the fund and protect the interests of fund holders, which shows the enthusiasm of the market and investors.
As the same age as Beixin Ruifeng and the company's earliest product, Beixin Ruifeng's stable income is highly dependent on institutional investors, and the proportion of institutional investors with a share has been more than 90% for a long time.Because of this, from 2020 to 2022 when important institutional investors suddenly "withdrew", the scale of this product plummeted to less than 100 million yuan, which also directly dragged down the company's management scale. According to the reporter's understanding, in 2019 and 2020, Beixin Ruifeng Stable Income Bond Fund violated the defaulted "17 Zhongpin mtn001", and later suffered huge redemptions from institutions, which severely damaged its vitality.
Nowadays, the problem of unbalanced product structure of Beixin Ruifeng seems to be more prominent. The debt fund that "takes the lead" is also highly dependent on a single institutional investor, which has laid hidden dangers for the company's business development. After a series of human resources turmoil, where will Beixin Ruifeng go in the future?
Daily Economic News
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