Volatile markets take toll on fund managers

Fierce competition for clients and volatile markets this summer drove hundreds of fund managers to leave the industry, spurring a younger profile of new hires for the high-pressure job, according to figures compiled by Shanghai Wind Information Co Ltd and industry sources.

Out of an estimated 1,200 fund managers from domestic firms, nearly 290, or 24 percent, quit this year.

In October alone, 13 fund managers quit along with four senior executive officers at fund institutions, according to the figures compiled by Wind Information.