Well-Known FOF Veteran Steps Down, Deng Jiongpeng "Bids Farewell" to Orient Red

On March 24, 2026, Shanghai Orient Securities Asset Management Co., Ltd. (hereinafter referred to as Dongfanghong) announced the departure of multiple FOF funds, with Deng Jiongpeng leaving due to “personal reasons.”

Prior to his departure, Deng Jiongpeng was the head of FOF business at Dongfanghong Asset Management and previously had experience managing well-known joint-stock bank products. His departure marks a career move after many years in the position.

According to the fund announcement, after Deng Jiongpeng’s departure for personal reasons, the funds he previously managed will be continued by Chen Wenyang and Xu Yuning. Both of them were already co-fund managers of these funds, and this change is not expected to affect the smooth operation of the related products.

Mass Resignation of Fund Managers

With Deng Jiongpeng’s departure, several funds he managed have also changed fund managers. These include Dongfanghong Xin and Active Allocation 3-Month Holding Period FOF, Dongfanghong Xin and Balanced Allocation 2-Year Holding Period FOF, Dongfanghong Xin and Steady Allocation 3-Month Holding Period FOF, among others, all announcing that Deng Jiongpeng has left due to “personal reasons.”

The announcements also indicate that he has not been assigned to any other internal position within the company and has completed deregistration procedures with the Asset Management Association of China as required. His next move remains a point of interest.

About Deng Jiongpeng

Deng Jiongpeng is quite well-known in the FOF field.

Public information shows that he holds a Bachelor’s degree in Finance from Guangdong University of Business. He has served as a Product Manager in the Retail Banking Department at China Merchants Bank Guangzhou Branch, a Product Manager in the Wealth Management Department at China Merchants Bank, and a Team Leader in Investment Product Development.

After joining Dongfanghong, Deng Jiongpeng served as Managing Director and General Manager of the Fund Portfolio Investment Department, directly involved in the strategic layout and research framework development of Dongfanghong’s overall FOF business.

Moderate Performance, Not Outstanding

In terms of investment performance, all the FOF products managed by Deng Jiongpeng historically achieved profits (see below, source: Tiantian Fund, fund net value). However, overall performance has not been particularly remarkable.

This may reflect his personal business style, emphasizing communication and companionship with investors, but the sharpness and distinctiveness of his portfolio’s style remain to be observed.

Who Will Take Over?

With the veteran “clearing out,” the successor remaining on the front line naturally becomes the focus of investor attention.

Specifically, the Dongfanghong Xin and Steady Allocation 3-Month Holding Period FOF will continue to be managed by Wenyang Chen, who previously co-managed these funds; the Dongfanghong Xin and Balanced Allocation 2-Year Holding Period FOF, as well as the Dongfanghong Xin and Active Allocation 3-Month Holding Period FOF, will be managed by Xu Yuning, who previously co-managed them.

It is worth noting that Wenyang Chen managed FOF products at Dongfanghong earlier than Deng Jiongpeng.

Wenyang Chen holds a Master’s degree in Finance from Shanghai University of Finance and Economics. He previously worked as a broker in the Interest Rate Derivatives Department at Shanghai Guoli Money Brokerage Co., Ltd., a trader in the Financial Markets Department at Ningbo Bank, a Senior Investment Manager in the Financial Markets Department at Nanjing Bank, and a Fixed Income Researcher and Investment Lead at Shanghai Orient Securities Asset Management Co., Ltd. Since June 2020, he has been managing Dongfanghong’s FOF products.

Xu Yuning holds a Master’s degree in Economics from Southwestern University of Finance and Economics. He previously served as Chief Analyst of Financial Engineering at Minsheng Securities Research Institute and at Pacific Securities Research Institute. In May 2022, he joined Shanghai Orient Securities Asset Management as a Fund Researcher, and since July 2024, he has been an Assistant Fund Manager. Since early March 2026, he has been managing two FOFs jointly with Deng Jiongpeng and is now officially taking over independently.

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