This personal public fund personnel "major change": the second chairman resigns, and major shareholder Zhong Mingyuan takes on both roles.

Over seven years after its establishment, the private-publicly offered Boyuan Fund has once again seen personnel changes at the senior level.

Boyuan Fund has released an announcement stating that Chairman Hu Junqi was formally removed from his position as chairman for personal reasons. The person acting on behalf of the chairman is Zhong Mingyuan, the company’s largest shareholder and also its general manager.

This handover not only means the gradual exit of one of the company’s core figures, Hu Junqi, but also means that Zhong Mingyuan—the former fixed-income heavyweight—further consolidates his control over Boyuan Fund.

Second Chairman Steps Down

Recently, Boyuan Fund announced that Hu Junqi stepped down as chairman due to personal reasons, with no arrangement for him to be reassigned to other work positions in the company. General Manager Zhong Mingyuan will serve as acting chairman.

It is understood that Hu Junqi joined the company from the time Boyuan Fund was being prepared, making him one of the company’s founding members. After the company was established, he was appointed as the company’s second chairman, a role he served for nearly 7 years.

His stepping down means that Boyuan Fund’s founding team has “split up.”

The Departing Person Is Also a Shareholder

It is worth noting that Hu Junqi is not only the company’s chairman and a member of the founding team, but also a shareholder of the company.

According to Tianyancha, Hu Junqi currently still holds 4.99% of the company’s shares, with no further changes as of yet.

And his equity was acquired when Boyuan Fund was approved to be established—he is one of the founding shareholders of this fund company.

His departure is indeed drawing considerable attention.

Background in Futures

Public information shows that Hu Junqi graduated from Wuhan University with a major in electronic information engineering and holds a Bachelor’s degree in engineering.

In his early years, his experience was in agricultural industry and asset management. He previously served as a staff member in the strategic planning department of COFCO Group Co., Ltd.; deputy general manager of the asset management department at COFCO Futures Co., Ltd.; a director at Beijing Brusteel Galv Environmental Technology Development Co., Ltd.; and he has accumulated extensive experience in strategic planning and asset management.

In 2016, he joined the preparation group of Boyuan Fund Management Co., Ltd. After the company was established, he served as a director of the company.

In July 2019, shortly after Boyuan Fund was officially established, the first chairman, Huang Junfeng, was reassigned as the company’s deputy general manager due to the needs of business development. Hu Junqi assumed the position of chairman.

For Hu Junqi’s performance during his tenure, Boyuan Fund gave a high evaluation in its announcement. The announcement said that during his time as chairman, Hu Junqi performed his duties diligently and responsibly, making important contributions to the company’s standardized operations, strategic development, and improvements in governance. The company sincerely expresses its respect for the dedication he put in and its heartfelt thanks.

Zhong Mingyuan Takes “One Role for Two”

Zhong Mingyuan, who is acting as chairman this time, is undoubtedly the most core “soul figure” at Boyuan Fund.

Judging from his personal work history, Zhong Mingyuan holds a Master’s degree in finance from Fudan University, and is a well-known investment veteran in the fixed-income field.

He has served in the capital plans department of the Shenzhen branch of the China Development Bank, and then successively served as an investment manager in the fixed-income department of United Securities, a fixed-income strategy research analyst at Taikang Life Insurance, and a senior investment manager in the fixed-income department at Xinhua Asset.

After that, he successively served as the general manager of the fixed-income headquarters and general manager of the fixed-income investment department at the leading public fund firm E Fund, as well as deputy general manager at Dacheng Fund, accumulating very deep research and investment experience as well as team management experience.

In November 2018, after Boyuan Fund—founded under his leadership—was approved, he became the largest shareholder and also served as the company’s legal representative and general manager.

The importance of Zhong Mingyuan to Boyuan Fund is self-evident. Not only is he the absolute largest shareholder with direct holdings of 45.03%, he also holds multiple core positions at the company, including director, general manager, chairman of the investment decision-making committee, and even frontline fund manager.

If previously the partnership between Hu Junqi and Zhong Mingyuan was “each person doing their own job,” then Zhong Mingyuan’s acting as chairman this time means that this founder will carry out overall, comprehensive, and in-depth coordination across everything—from strategic decision-making and day-to-day operations to research and investment business.

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