Billionaire Bank-backed Public Fund Manager Unable to Perform Duties Due to Concentrated Training

Another hundred-billion public fund plans to change its leadership.

Recently, Agricultural Bank of China Wealth Management Co., Ltd. (hereinafter referred to as “ABC Wealth Management”) announced that General Manager Cheng Kun will be unable to perform his duties due to participating in intensive training. The company’s board of directors has decided that Chairman Huang Tao will temporarily assume the role of General Manager, effective March 13.

Industry insiders point out that Cheng Kun may return to the head office of Agricultural Bank of China; Sun Jiankun, Vice President of ABC Wealth Management, is expected to succeed as General Manager.

Public information shows that Cheng Kun joined Agricultural Bank of China in August 1997, with over 20 years of experience within the banking system. He has served as Deputy Director of the Foreign Exchange Investment Portfolio Department and the Trading Risk Supervision Department of the Financial Markets Department; Director of the Self-Operated Risk Management Department, the Local Currency Investment Department of the Investment Center, the Research and Development Department, and the Shanghai Branch; Vice General Manager of the Financial Markets Department; and Vice President of the Financial Markets Department. Cheng Kun joined ABC Wealth Management in August 2021 and became General Manager in September of the same year, holding the position for over four and a half years.

Sun Jiankun also has a background with Agricultural Bank of China. According to public information, Sun Jiankun, male, born April 1982, is 43 years old with a doctoral degree, senior economist. He previously served as Director of Strategy and Portfolio Management at the Asset Management Department of Agricultural Bank of China. He is currently Vice President of ABC Wealth Management Co., Ltd., a special member of the Second Public Market Investment Professional Committee of the China Insurance Asset Management Industry Association, and the Deputy Chairman of the Third Banking and Insurance Asset Management Professional Committee.

Official website data shows that ABC Wealth Management (ABC-CA Fund Management Co., Ltd.) was jointly established by Agricultural Bank of China, Amundi Asset Management, and Chinalco Capital Holdings. Agricultural Bank of China holds 51.67%, Amundi Asset Management holds 33.33%, and Chinalco Capital Holdings holds 15%. The company is registered in Shanghai with a registered capital of 1.75 billion yuan.

In terms of management scale, ABC Wealth Management reached its peak size of 267.979 billion yuan at the end of September 2021, since then hovering around 200 billion yuan. As of the end of December 2025, the company’s managed assets totaled 226.097 billion yuan, ranking 38th in the industry.

Regarding product structure, as of the end of 2025, ABC Wealth Management’s non-cash assets totaled 136.931 billion yuan. Among them, bond funds dominate with a scale of 101.602 billion yuan; among equity products, hybrid funds and stock funds are 28.775 billion yuan and 5.865 billion yuan, respectively.

Overall, according to Wind data compiled by The Paper News, since 2026, there have been 68 executive changes (including acting appointments) in the public fund industry involving 33 fund companies (including securities firms with public fund licenses and their asset management arms). Among them, five public funds, including Debon Fund and Allianz Fund, have changed chairpersons; ten public funds, including Xinghua Fund, Quanguo Fund, and Chunhou Fund, have changed general managers.