晨报记者 陈重博

The morning paper reporter Chen heavy bo

　　熊市中，有人一战成名，有人悄然离去。东吴基金的“顶梁柱”投资总监王炯，近日刚刚确认辞职。这则消息带给业界足够的震撼，不少业内人士猜测，若熊市依然延续，还将有更多的明星基金经理会选择离职。

The bear market，Someone really made a name for himself，Someone quietly away。Soochow fund“pillar”Investment director WangJiong，Recently just confirmed to resign。The news brings industry enough shock，A lot of the personage inside course of study guesses，If a bear market still continue，Also will have more star fund managers will choose to leave。

　　公募太累 Public offering too tired

　　“在这个行业这么多年，天天都在第一线拼杀，太累了，想休息一下。”被誉为美女基金经理的王炯，昨日在接受记者采访时略带倦意。作为东吴基金旗下最知名的投资明星，王炯长期背负着盛名的压力。

“In this industry for so many years，Every day in the first line moving，Too tired，Want to have a rest。”Is known as the beauty of the fund manager WangJiong，Yesterday when accepting a reporter to interview with tiredness。Soochow fund as its most famous investment star，WangJiong long-term carried the famous pressure。

　　2004年4月，王炯加入东吴基金，从研究员做起，曾任东吴双动力基金经理、东吴进取策略基金经理，现担任公司投资总监、投资管理部总经理等职位。作为基金经理，王炯真正成名于2008年的熊市。当时，王炯所管理的东吴双动力基金，业绩一度超越王亚伟管理的华夏大盘。2010年，则是王炯投资生涯的另外一个高潮。这一年，她作为东吴基金的投资总监，带领东吴基金整体业绩再度崛起。

In April 2004，WangJiong join soochow fund，Starting from the researchers，Once was appointed dongwu hybrid fund manager、Dongwu enterprising strategy fund manager，Now as a corporate investment director、Investment management department general manager position, etc。As the fund manager，WangJiong really famous in 2008 of a bear market。At that time，The management of the WangJiong dongwu hybrid funds，Once beyond the WangYaWei performance management of Chinese market。In 2010,，It is WangJiong investment career another high tide。This year，She as the fund's investment director，Soochow fund led the overall performance rise again。

　　然而，熊市磨人。去年5月，王炯卸任两只基金的基金经理职位，不再管理具体的基金，在东吴基金仅任投资总监一职。一年多以后，王炯还是终究选择了离职，令人唏嘘不已。

however，Bear grinding people。Last may，WangJiong former two fund fund manager position，No longer management specific fund，Soochow fund only in any investment director。After more than a year，WangJiong eventually quit，An infinity。

　　私募想逃 Private want to escape

　　相比公募界，近期宣布主动离开市场的私募基金经理人数更多，他们的处境也更令人寒心。据不完全统计，去年阳光私募产品清盘数量达187只，而今年仅上半年就有131只产品清盘，其中48只产品提前清盘。在这些清盘者中，不乏一些叱咤江湖的风云人物。

Compared with public offering boundary，Recently announced active leave the market private equity fund managers more number，They were also more chilling。According to incomplete statistics，Last year the sun private products liquidation number 187 only，And in the first half of this year only 131 only product liquidation，The 48 products advance liquidation。In these liquidation of those，There is no lack of some excelled at runescape celebrity。

　　作为公募界投资明星的王贵文，转投阳光私募后，却因业绩不佳最终离开。离开私募后，他说休息一段时间之后，可能会选择开个饭馆或书吧。富泽投资的总经理张良，在熊市惨败后，便与几个合作伙伴收购了一家小型的日化企业，主要生产洗发水。南京世通的董事长常士杉，三年内从冠军巅峰沦落到产品清盘，他最近言论颇为悲观，认为上证指数可能会在1900点左右见底。

As a public offering boundary investment star WangGuiWen，A move into the sunshine after private，However because of poor performance finally left。Leave after private，He said a rest after a period of time，May choose to open a restaurant or books。Rich ze investment ZhangLiang general manager，In a bear market after the defeat，With several partners and bought a small chemical enterprise，The main production shampoo。Nanjing stone chairman of the board ChangShiSha，Three years from the champions peak reduced to product liquidation，His latest speech rather pessimistic，Think the Shanghai index may be in about 1900 points see bottom。

　　多空交织 Foamed mixed

　　尽管受到不少明星基金经理隐退的影响，但基金近期总体仓位相对稳定。据德圣基金研究中心的测算，近一周来市场震荡下跌运行，基金整体重仓待底。据8月16日数据显示，可比主动股票基金加权平均仓位为82.95%，依然处于相对的高位。

In spite of many star fund managers secluded influence，But recent fund overall location relatively stable。According to DE SAN fund research center of the measure，Nearly a week market concussion run down，The fund heavy warehouse to whole bottom。According to August 16 data display，Comparable active stock funds for 82.95% weighted average position，Still in a relatively high。

　　从公司来看，业内前5家大型基金公司，如南方、嘉实等加仓的步调一致，同时大幅提升仓位，中型公司中的华商、长信基金也有加仓的迹象。华商基金指出，当前市场估值处于历史相对低点，在市场风险得到释放、经济结构调整持续深化的大背景下，关注中证500指数中成长股的投资机遇，或将在未来的经济转型中受益。长信基金则表示，未来市场仍将维持震荡格局，板块的结构性分化将会加剧，把握符合经济发展趋势的板块，有助于投资者发现结构性机会。

From the company to see，The first five large-scale fund company，If south、Fine fruit, etc and warehouse tune，At the same time improve positions，The Chinese medium sized companies、Long letter funds also add signs of warehouse。Chinese businessman fund pointed out that，The current market valuation is relatively low history，In the market risk release、Continue to deepen the economic restructuring of the background，Attention has 500 index growth stock investment opportunities，Or will be in the future of the transformation of the economic benefit。Long letter fund, said，Future market will remain concussion pattern，Plate structural differentiation will aggravate，Grasp the accord with economic development trend of the plate，Help investors find structural opportunity。

　　也有基金对大盘后市趋于谨慎。“如果短期内中观和微观层面没有出现企稳迹象，不排除在未来一个季度内进一步降息的可能性。目前宏观经济依旧较弱，股市短期还存在继续整理一段时间的风险。”招商安盈保本拟任基金经理吴昊说。对于当前市场走势，中银保本基金经理李建认为，根据目前的国家经济政策、市场估值、流动性和公司盈利等状况，A股较大概率仍将维持震荡表现，投资不确定性因素较多。

Also have funds to which the market caution。“If the short term meso and micro level there is no signs of stabilising，Do not eliminate to be in the future a quarter to cut interest rates further in the possibility。At present the macro economy is still weak，The stock market short-term there are still continue to finish a period of risk。”Merchants Ann surplus break-even aspiring fund managers WuHao said。For the current market trends，Boc break-even fund manager LiJian think，According to the present national economic policy、Market valuations、Liquidity and corporate earnings and so on the condition，A share larger probability will remain concussion performance，Investment more uncertainty factors。