Dacheng Fund star manager Han Chuang resigns from all seven funds, may move to private equity
Dacheng Fund announced on September 24 that Han Chuang, a prominent equity fund manager managing over 10 billion yuan, resigned from all seven of his funds on September 23 for personal reasons. The funds had been transitioned to co-management over the past six months. As of mid-year, Han managed 109.17 billion yuan, down nearly 10 billion yuan from Q1. According to Caixin, Han may leave to start a private fund management company.
Reference imageEditorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
- Summary covers the current reports
Cross-source coverage
Reporting timeline
Dacheng Fund's Top Equity Manager Han Chuang Resigns from All Seven Funds, May Move to Private Sector
Dacheng Fund announced on September 24 that Han Chuang, a prominent equity fund manager managing over 10 billion yuan, resigned from all seven of his managed funds on September 23 for personal reasons. The funds, previously solely managed by Han, had been transitioned to a co-management model within the past six months, with additional fund managers appointed. As of mid-year, Han's total assets under management stood at 109.17 billion yuan, a decline of nearly 10 billion yuan from the end of the first quarter. Han Chuang, along with Xu Yan and Liu Xu, was known as one of Dacheng Fund's 'Three Equity Swordsmen.' According to a previous report by Caixin, Han Chuang may leave the firm to start a private fund management company.
Dacheng Fund's star manager Han Chuang resigns from all funds, may move to private equity
Dacheng Fund announced on September 24 that Han Chuang, a prominent equity fund manager managing over 10 billion yuan, resigned from all seven of his funds on September 23 for personal reasons. The funds, previously managed solely by Han, had been transitioned to co-management over the past six months with the addition of other fund managers. As of mid-year, Han managed total assets of 109.17 billion yuan, a drop of nearly 10 billion yuan from the end of the first quarter. Han, along with Xu Yan and Liu Xu, was known as one of Dacheng Fund's 'Three Equity Swordsmen.' According to Caixin, Han is expected to leave the company and move to the private equity sector.
Read sourceDacheng Fund's 10-billion-yuan equity star Han Chuang resigns from all funds
Dacheng Fund announced that Han Chuang, a prominent equity fund manager managing over 10 billion yuan, resigned from all seven of his funds on September 23 due to personal reasons. The funds, previously solely managed by Han, had been transitioned to co-management over the past six months. As of mid-year, Han's total assets under management stood at 109.17 billion yuan, a decline of nearly 10 billion yuan from the end of the first quarter. Han, along with Xu Yan and Liu Xu, was known as one of Dacheng Fund's 'Three Swordsmen of Equity.' According to Caixin, Han Chuang is expected to leave the firm and potentially move to the private equity sector.
Read sourceShow 2 older updatesHide older updates
Star fund manager Han Chuang may leave Dacheng Fund amid equity product losses
Dacheng Fund faces multiple challenges as star fund manager Han Chuang is expected to depart for a private equity firm, according to industry sources. On September 18, five funds managed by Han Chuang appointed co-managers, leaving him with no sole-managed funds. Han, who joined Dacheng in 2015, managed 109.16 billion yuan as of Q2 2025. His flagship fund Dacheng New锐 Industry posted 88.25% returns in 2021, but since 2022, his funds have suffered significant losses due to market downturns and heavy bets on gold stocks. In H1 2025, his seven funds collectively lost 13.89 billion yuan, and his AUM shrank from 207.76 billion to 109.16 billion yuan. Separately, Dacheng Technology Innovation C, managed by Guo Weiling, saw its size surge 574% to 201.04 billion yuan by end-June after heavy investment in 'Kingboard' stocks, which later plunged over 44% following a major shareholder sell-off. The fund's recent three-month return was -32.2%. Additionally, Vice President Yao Yudong resigned on September 2. Dacheng Fund, one of China's oldest fund companies with 5224.42 billion yuan in AUM, is grappling with talent loss and poor performance in actively managed equity products.
Dacheng Fund's Top Manager Han Chuang May Depart After All Products Co-Appoint New Managers
This article from Sina Finance's stock section, citing financial blog 'Jinshi Zatan', reports that Han Chuang, a star fund manager at Dacheng Fund, has co-appointed new managers to all seven of his products on September 18, 2024. The blog interprets this as a typical precursor to a fund manager's departure. Han Chuang, a director and deputy head of equity investment at Dacheng, is part of the firm's 'Three Musketeers' with Xu Yan and Liu Xu. His funds, heavily weighted in 'old economy' sectors like gold, insurance, and rare earths, have underperformed in the recent tech-driven bull market, with his assets under management halving from 207 billion to 100 billion yuan in Q2. The article details the backgrounds of the newly appointed co-managers, many of whom have a growth/tech focus, suggesting a potential shift in fund strategy. It speculates Han's possible departure could be voluntary (to start his own firm) or due to underperformance and marginalization within Dacheng.