The first chairman of Allianz Fund officially announces resignation.

The latest announcement from Allianz Fund states that due to personal reasons, the company's first chairman Wu Jiayao has resigned and will not be transferred to any other position within the company. The general manager Shen Liang will temporarily assume the position of chairman. Wu Jiayao's next destination will also be a foreign-funded institution. In June of this year, UBS publicly announced that Wu Jiayao will serve as the head of UBS Asset Management Asia Pacific, with the appointment taking effect from October 1st of this year. Wu Jiayao will be based in Hong Kong and will also become a member of the global management team of asset management and the Asia Pacific management team at UBS. Allianz Fund obtained a business license in April of last year, and as of the end of the second quarter of this year, the total assets under management for its two products amounted to 685 million yuan.