China Asset Management boss dead at 41
Cai Xiangyang, the deputy general manager of China Asset Management, has died suddenly at the age of 41.
The well-known investor, who once managed nearly US$10 billion in assets, passed away in Beijing on Monday, November 1.
The circumstances of his death have not been made public, but it has led to calls in Chinese media for increased awareness around the mental health of fund managers.
One report referred to the “cruel side” of the financial industry and there are suggestions the assets under management by Xiangyang had not been performing well in recent months.
A crackdown on technology companies and ongoing concerns over the future of real estate giant China Evergrande has led to an uncertain economic future in China and beyond.
China Asset Management releases statement
Cia Xiangyang’s employer, China Asset Management, has released a statement to confirm the sad news.
“The board of directors, management and all employees of the company would like to express their sincere gratitude to Mr. Cai Xiangyang for his outstanding contributions to the development of the company,” the statement said.
“During the 14 years he worked in the company, M. Cai Xiangyang has been passionate about investment business and has excellent investment capabilities.
“We express our sincere condolences to Mr. Cai Xiangyang’s family.”
Who was Cai Xiangyang?
Cai Xiangyang graduated from China Agricultural University with a master’s degree in finance.
From March 2006, he was employed as a researcher at Tianxiang Investment Consulting and Xinhua Asset Management, before joining China Asset Management in October 2007.
In the early years, Xiangyang was primarily a researcher and assistant, but in May 2014 he was promoted to fund manager and would go on to serve more than six million investors.
Xiangyang’s colleagues said he was conscientious and enthusiastic about his work, and was publicly acknowledged for his success with 12 ‘blockbuster awards,’ six ‘Golden Bull Awards,’ three ‘Star Fund Awards’ and three ‘Golden Fund Awards.’
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