news flash·2025-04-22 00:48Core Insights - Zhang Kun's managed funds have reported a total scale of 60.822 billion yuan as of March 31, 2025, benefiting from significant outperformance against the benchmark [1] - Despite the strong performance, the funds are facing ongoing net redemptions [1] - Zhang Kun has significantly reduced holdings in Alibaba and Tencent, as well as in Yanghe Brewery and Meituan [1] - Conversely, there has been a slight increase in positions for Shanxi Fenjiu and Luzhou Laojiao across three funds [1] - SF Express has emerged as a new favorite for Zhang Kun, with a 226% increase in holdings in the E Fund Quality Selection fund during the first quarter [1] Fund Performance - As of the end of Q1 2025, the total scale of Zhang Kun's managed funds reached 60.822 billion yuan [1] - The funds have outperformed their respective benchmarks significantly [1] - The funds are experiencing continuous net redemptions despite strong performance [1] Portfolio Adjustments - Major reductions in holdings for Alibaba, Tencent, Yanghe Brewery, and Meituan [1] - Increased positions in Shanxi Fenjiu and Luzhou Laojiao across three funds [1] - SF Express has been newly added to the top ten holdings of the E Fund Quality Selection fund with a 226% increase [1]