According to an official WeChat post from Boke Private Fund, He Kang, former Assistant Director of the Huatai Securities Research Institute and Chief Strategist and Chief Quantitative Analyst, has joined Boke Private Fund as Chief Investment Officer.
This marks another core figure from Huatai's quantitative team moving to the private fund sector, following former Chief Financial Engineering Analyst Lin Xiaoming.
Public records show that He Kang holds a bachelor's degree and a doctorate in psychology from Peking University. He previously served as Assistant Director of the Huatai Securities Research Institute, Chief Strategist and Chief Quantitative Analyst, and has long been engaged in quantitative strategy and financial product research. He is also a co-founder of the "China Quantitative Investment White Paper."
In the field of artificial intelligence, He Kang and his team have continuously tracked frontier developments in deep learning and large language models as well as their innovative applications in quantitative investment. The Huatai AI research series he led has established professional influence in the industry.
Data from the Asset Management Association of China shows that Shanghai Boke Private Fund Management Partnership (Limited Partnership) was established in July 2022 and ranks among hundred-billion-yuan private funds. Its contributor is Boke Technology Group Co., Ltd., with a subscribed capital ratio of 92%.
Specifically, Boke is a platform-based comprehensive fund manager whose strategies cover FOF, subjective long-only, quantitative and macro directions, with its core team coming from well-known financial institutions and top private fund managers.
Shortly before leaving Huatai, He Kang said at Huatai Securities' autumn investment summit in September this year that the style rebalancing trend in the A-share market in the fourth quarter may continue, with the core driver coming from changes on the funding and liability side. At present, the chip structure in technology is still adjusting, market capital preference has clearly shifted toward steady assets, and it is advisable to build a balanced allocation in directions where there is a "configuration gap" between earnings and chips.
He Kang's move to the private fund sector is not an isolated case. On June 3 this year, Lin Xiaoming, former Chief Financial Engineering Analyst at Huatai Securities, formally joined Hainan Sirui Private Fund Management Co., Ltd. as Chief Economist, responsible for global asset allocation research and investment work. Previously, Lin Xiaoming served as Chief Financial Engineering Analyst at Huatai Securities for ten years.
Earlier still, in July 2025, Ding Luming, former Chief Quantitative Analyst at CITIC Securities, announced the end of more than a decade-long sell-side career and his transition to the buy side by founding Shanghai Ruicheng Private Fund Management Co., Ltd.
At the same time, cases of moving from public funds to private funds have also increased this year. Ren Xiangdong, former fund manager at Xingzheng Global Fund, joined Yuanxin Investment; Bao Wuke, former fund manager at Invesco Great Wall Fund, and Zhai Xiangdong, former fund manager at China Merchants Fund, joined Lingren Investment; Cao Mingchang founded Puqiao Private Fund, Liang Hao founded Mingyi, Wang Peng founded Pengju, and Zhou Haidong founded Shangxianyue.
There are not a few well-known investment figures who choose to join mature private fund platforms or set up their own businesses. Data from Private Fund Ranking Network shows that as of the end of July, the number of practitioners with public fund backgrounds who moved to private funds reached 874. Among them, 212 fund managers with performance disclosures manage 489 products, with an average return of 3.37% this year, an average return of 19.02% over the past year, and an average return of 62.69% over the past three years.
Under institutional changes such as new performance assessment rules, private funds' equity incentives and flexible mechanisms are continuing to attract asset management talent.
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