Pandemic Control, Fund Practitioners Rushed to the Company Overnight in Shanghai

On the evening of March 27, the Shanghai Pandemic Prevention and Control Leading Group decided to carry out a new round of dicing and grid nucleic acid screening across the city. From 5:00 on March 28, the nucleic acid screening will be carried out in batches with the Huangpu River as the boundary, and Pudong and Puxi will be sealed and controlled in batches.

Since March 28 is a trading day, the impact of the new lockdown policy on Shanghai fund companies has drawn attention.

The reporter noticed that last night, a picture about “work subsidies for some fund companies” circulated on the Internet, which said: “Financial companies in Pudong require employees to enter the company before 12 o’clock”, and there are subsidies for living in the company: Fuguo Fund 2000 yuan/day, Yongying Fund 1000 yuan/day on weekdays, HuaAn Fund 1000 yuan/day, Guotai 1000 yuan/day, HFT Fund 500 yuan/day, and 2000 yuan/day in the weekend.

On March 28, the reporter called some fund companies in Shanghai for verification, and a customer service staff of HFT Fund said: “After receiving the notice of closure and control in Shanghai last night, I came to the company and will be on duty in the company until the lockdown is lifted.”

Another relevant person in charge of the HFT Fund told the reporter that HFT currently adopts a duty system, some employees in core positions will work on-site at the company, while the rest of the colleagues work from home.

Regarding the statement on the Internet that “Haifutong’s on-site office subsidy is 500 yuan/day on weekdays and 2,000 yuan/day on weekends”, the above-mentioned person in charge said that this is the company’s policy and it is inconvenient to disclose.

The staff of Yongying Fund told the reporter that they went to work normally on Monday trading day, and some staff worked from home. HuaAn Fund and Industrial Fund also adopted the same approach, with some staff working on-site and some working from home.

In fact, as early as mid-March, almost all major fund companies in Shanghai adopted the “on-site + remote” flexible working method. According to China Fund News, while many fund companies are starting telecommuting, various departments are dynamically taking stock of department personnel and implementing AB post preparation arrangements, such as China Universal Fund, Fuguo Fund, Industrial Securities Global Fund, and Agricultural Bank of China Fund.

The reporter noticed that Sheng Fengyan, the fund manager of the Western Profit Fund Company, posted on Weibo on March 15 and said: “In order to avoid the risk of being unable to go to work due to the isolation of the community, I have been living in the company for a few days.”