Vanguard fund welcomes new chairman, multiple executive changes occurred within the year.

Vanguard Fund welcomes its new chairman, Wang Chongkun, with the formal start date being May 16th. Wang Chongkun has previously held positions at Construction Bank, China Credit Trust Asset Management, and Hongyuan Securities. There have been several changes in top management at Vanguard Fund this year. In April, Chairman Wong Leah Kuen and Deputy General Manager and Chief Information Officer Wu Yue left their positions. At the end of February, Vanguard Fund welcomed its new general manager, Zhang Fan, who previously served as the general manager of Rongtong Fund. Prior to this, Compass took over more than 95% of the equity of Vanguard Fund through acquisitions, auctions, and other means, completing a change in controlling ownership.