Xin Lang Ji Jin·2025-06-11 03:53Core Viewpoint - The investment decision by Penghua Fund manager Xie Tianyuan to heavily invest in Pop Mart has sparked discussions, with mixed opinions on the necessity and potential of such an investment in a non-essential product [1][7]. Group 1: Manager Background and Investment Strategy - Xie Tianyuan, born in 1995 in Beijing, has a strong background in business, holding both undergraduate and master's degrees in the field. He has a deep interest in anime, video games, and IP culture, which reflects in his investment choices [1][5]. - The fund managed by Xie, "First Class," has a significant position in Pop Mart, which is its largest holding. His investment philosophy focuses on "long-term growth potential + short-term market conditions," targeting stocks with substantial growth even in a weak consumption environment [1][12]. Group 2: Performance Metrics - Xie Tianyuan's Penghua Optimal Return Fund has achieved a return rate of 42.53% since his tenure began, with an asset size of 0.51 billion yuan. This performance significantly outpaces the benchmark index [9][10]. - The fund's strategy includes identifying new consumption companies with low penetration rates and potential for market expansion, particularly in the trendy toy sector [12]. Group 3: Market Reactions and Opinions - The investment in Pop Mart has led to varied reactions from the public, with some questioning the rationale behind investing in a non-essential product, while others support the decision, emphasizing the importance of understanding the trendy toy market [7][8]. - Xie has articulated three key insights regarding new consumer investments, emphasizing that emotional value is not exclusive to Generation Z, the unpredictable nature of new trends, and the importance of sustained demand over perceived authenticity [6].