Published by AsiaAssetManagement – 16th February 2015
New China Fund Management (NCFM) has announced its portfolio manager, Wang Weidong, has relinquished his position as deputy general manager, effective February 11.
Mr. Wang joined NCFM in 2006, and was promoted to investment director in 2009. He oversaw the firm’s flagship equity fund, which secured an annualised return of 34.17% between 2009 and 2014.
NCFM did not disclose the reason for Mr. Wang’s departure, or his next destination.
According to China Securities Journal, NCFM reshuffled its investment team about a year ago in preparation for Mr. Wang’s leaving. It promoted the deputy director of its investment management department, Cao Mingchang, to deputy general manager, and appointed former Northern International Trust senior investment manager, Cui Jianbo, as director of its fund management department.
NCFM is ranked the 43th largest asset manager in China with total AUM of about 13.8 billion RMB (US$2.21 billion) as of the end of 2014, according to Sina Finance.
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