百亿元私募合远基金业绩遭遇滑铁卢，投资人：真的想实名举报管华雨

Core Viewpoint - The article highlights the significant decline in performance of He Yuan Fund, led by manager Guan Huayu, who has faced criticism from investors for failing to outperform the market over the past three years, with a cumulative loss of 25% across its products [1][4]. Group 1: Company Background - Guan Huayu is a well-known figure in the private equity sector, having transitioned from public to private fund management, and previously served as the equity investment director at China Asset Management [2][3]. - He founded He Yuan Fund in March 2022 after leaving Tongyuan Investment, raising over 20 billion yuan on its first day and eventually reaching nearly 90 billion yuan in assets under management [4][6]. Group 2: Performance Issues - He Yuan Fund's products have faced significant challenges, with an average maximum drawdown of nearly 25% and four products being liquidated early, while six others have less than 1 million yuan in assets [4][6]. - The fund's flagship product, "He Yuan Hao Mai Yu Hong Phase 1," saw a decline of 24.58% in cumulative returns within a month of its launch, struggling at a unit net value of 0.75 yuan [5]. Group 3: Market Conditions - The fund's poor performance coincided with a historic downturn in the A-share market, where the CSI 300 index fell by 21.6% in 2022, impacting the fund's ability to generate returns during its initial investment period [6]. - Investors have expressed concerns that the fund's strategies may be outdated and unable to adapt to current market conditions, which have shifted towards high-frequency trading [6].