China Investment Corporation and UBS Fund have closed their Shanghai branches this year, with multiple public sale institutions closing their branches.

On November 15th, Jin10 Data reported that Guotou UBS Fund recently announced that the company has decided to deregister its Shanghai branch, and the relevant business registration procedures have been completed. This is another case of a public sale fund deregistering its branch this year. Previously, China Bank Fund, Hongli Fund, Jiutai Fund, and others have already deregistered their branches. It is worth following that while some public sale funds are actively expanding their businesses and applying for the establishment of subsidiaries, some institutions are also deregistering their subsidiaries to optimize their layout and accelerate resource integration. Some analysts pointed out that the continuous expansion of the market scale also puts higher requirements on the lean management of managers, and the profitability of fund companies has also been tested in recent years, with the net profit level of some small and medium-sized fund companies performing poorly.