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China’s Gen Z investors are turning fund managers into social media stars

On a fan community page on Chinese social media platform Weibo, hundreds of users have posted comments and pictures, some covered in little red hearts, to express their admiration for a star they affectionately call Kun Kun. “Kun Kun flies bravely, iKun will always follow him; Kun Kun never gets old, and will remain a blue-chip till the end,” some users wrote alongside the picture. “Kun Kun,” whose full name is Zhang Kun, is neither a pop star nor actor. Instead, he is one of China’s most prominent fund managers who oversees around 120 billion yuan ($18.6 billion) in assets at E Fund Management, an established Chinese asset management firm. Zhang’s followers, who label themselves “iKun,” (“i” is a homophone for the Chinese word love), have also created accounts on Weibo posing as his “global fan clubs.” “Kun Kun, I would like to accompany you for many, many years,” a follower wrote. “Let’s witness both the bull and bear markets, but still return with young hearts.”
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Foxconn hands out $3.4b in bonuses to employees in Taiwan

Taiwan-based electronics manufacturer Foxconn Technology Group has handed out NT$76.6 billion (S$3.4 billion) in bonuses to its 4,166 employees in Taiwan.

This means each employee received on average about NT$1.83 million (S$82,300), although bonuses varied for different business units and individual roles and performance, local Chinese daily Shin Min Daily News reported yesterday.

Foxconn has issued year-end cash bonuses since the beginning of 2017, giving out between NT$76.6 billion and NT$105 billion.

The earlier date is said to be the decision of new Foxconn chairman Liu Yang-wei, who took over in July from predecessor Terry Gou.

Mr Gou, Foxconn's founder and Taiwan's richest man, resigned in June, after four decades at the helm, to contest Taiwan's presidency, but quit the race in September.

Average amount each of the 4,166 Foxconn employees in Taiwan received, although bonuses varied for different business units and individual roles and performance.

Foxconn is the world's largest electronics assembler. Its major customers include Apple, Microsoft, Huawei and Nintendo.

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