It has been learned recently that Wang Dengfeng, known as the "national fund manager," has been internally transferred to BlackRock Fund as Head of Liquidity Management effective August 1st, where he will be responsible for liquidity management and fixed income investment strategies.
According to public information, Wang Dengfeng served as Senior Manager in the Fixed Income Department at CITIC Securities from July 2009 to May 2012. He joined Tianhong Fund in May 2012, where he served as fixed income researcher and fund manager, managing China's largest money market fund - Tianhong Enhanced Money Market Fund, also known as "Yu'E Bao." Due to the massive scale under his management, he earned the nickname "national fund manager."
In September 2023, Wang Dengfeng left Tianhong Fund. At the time of his departure, Yu'E Bao had grown to over 670 billion yuan in assets, making it the largest fund in China with 746 million account holders. In early 2024, he joined BlackRock China Wealth Management as Deputy General Manager and Chief Fixed Income Investment Officer.
At that time, BlackRock China Wealth Management was in an expansion phase for its investment categories. BlackRock China Wealth Management is a joint venture wealth management company established in May 2021, jointly founded by BlackRock, China Construction Bank, and Temasek. Initially, BlackRock China Wealth Management leveraged its investment advantages in equity markets and launched two equity products. However, due to generally low acceptance of equity products in the wealth management market, it was difficult to scale up.
Subsequently, BlackRock China Wealth Management began expanding its product lines by adding fixed income investment and multi-asset investment products. Wang Dengfeng was brought into BlackRock China Wealth Management under this context. Currently, BlackRock China Wealth Management manages assets exceeding 51.3 billion yuan, with product lines covering fixed income, equity, hybrid, pension, QDII, and other multiple sectors.
BlackRock Fund stated that Wang Dengfeng's deep experience in the local market, forward-looking strategic perspective, and extensive industry resources will play an important role in strengthening BlackRock Fund's fixed income platform and expanding the product portfolio. His successful experience in investment strategy, product innovation, and liquidity management will help provide more differentiated solutions for clients.
Currently, Liu Rui, Deputy General Manager and Chief Multi-Asset Investment Officer at BlackRock China Wealth Management, will expand his responsibilities to serve as Chief Investment Officer of BlackRock China Wealth Management.
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