Zhang Kun Steps Down From E Fund Fund; AUM Falls to 30.8B Yuan

The significance here is less the exit itself than the shrinkage it formalizes: a six-year loss and a fund whose assets fell sharply suggest redemption pressure, not just a manager reshuffling duties. Zhang Kun's reduced total AUM points to a broader retreat of star-manager branding in Chinese active equity, where scale followed reputation rather than results. The open question is whether E Fund's remaining lineup stabilizes or whether further handovers follow.