百亿权益基金经理五年业绩盘点：葛兰近五年回报跌25.95%垫底，汇添富基金经理倒数前十占据四席

Core Viewpoint - The A-share market has experienced significant volatility in recent years, making it challenging for fund managers to maintain outstanding performance over the long term [1] Group 1: Fund Manager Performance - There are 47 fund managers managing over 10 billion yuan in equity funds with ten years or more of experience [1] - The top-performing fund managers over the past five years include Yan Enqian and Han Chuang, who achieved high returns with moderate fund sizes [4] - Liu Xu, managing a large fund size, also demonstrated that scale and returns can coexist [4] - The worst performer in the past five years was Guo Lan from China Europe Fund, with a total return of -25.95% [4] - Other poorly performing managers include Yang Zhen and Zheng Lei from Huatai PineBridge, with returns of -20.38% and -16.16%, respectively [6] Group 2: Fund Size and Management - The top ten fund managers by equity management scale are: Ge Lan (30.447 billion), Hu Xinwei (30.130 billion), Liu Xu (25.734 billion), and others [3] - The data indicates that even experienced fund managers can face challenges due to market changes or inappropriate investment strategies [6] Group 3: Risk and Return Analysis - The risk-return analysis shows that while Guo Lan has high interval returns, her Alpha value is negative, indicating poor performance relative to market benchmarks [8] - Zhu Lin and Gui Kai also reported negative interval returns, suggesting significant market challenges or misalignment of investment strategies [8] - The analysis highlights that fund managers' investment styles vary, with some facing substantial market challenges [8] Group 4: Representative Fund Comparisons - Guo Lan's fund, China Europe Medical Health A, has shown stable long-term performance but has low recent returns and high maximum drawdown, indicating a need for better risk control [10] - Zheng Lei's fund, Huatai PineBridge Innovation Medicine, has performed well recently but has lower long-term returns and high maximum drawdown [10] - Zhu Lin's fund, Ruiyuan Growth Value A, while large in scale, has not performed well long-term, with low recent returns and high maximum drawdown [10] Group 5: Investment Strategy Insights - The historical performance of fund managers does not guarantee future success, as market dynamics require continuous adjustment of investment strategies [11] - Investors should consider the underlying investment philosophies and management styles of fund managers to make informed decisions [11]