私募“大佬”林园回应业绩争议：坚持长期持有，否认清盘风险

Core Viewpoint - The performance of multiple products under Lin Yuan has raised market concerns, with some products underperforming the CSI 300 index and even incurring losses this year [2][3][4] Performance Overview - Lin Yuan's investment firm manages over 260 products, with significant performance differentiation among them. As of September 26, 2023, all 18 disclosed performance products underperformed the CSI 300 index, with the best-performing product yielding 10.05%, below the index's 13.25% increase [3][4] - Notably, several products have reported losses over the past year, including "Lin Yuan Investment No. 173," which has a cumulative loss of 23.80% since its inception [4][5] Investment Strategy - Lin Yuan emphasizes a long-term holding strategy without additional risk control measures or adjustments to current holdings, attributing performance fluctuations to short-term price declines of held assets rather than issues with industry allocation or stock selection [5][6] - The firm focuses on investing in companies with long-term value, conducting extensive research before purchase, and maintaining a "core + satellite" strategy to balance stability and risk [5][6] Market Outlook - Lin Yuan plans to continue focusing on the consumer and pharmaceutical sectors, viewing them as long-term opportunities, while avoiding participation in popular sectors like new energy and artificial intelligence due to uncertainty in short-term valuation [6][7] - He predicts that over 70% of investors may underperform the CSI 300 index this year, emphasizing the importance of long-term investment horizons over short-term performance [6][7] Risk Management and Communication - Lin Yuan denies rumors of potential product liquidation, stating that the only reason for liquidation would be contract expiration, and emphasizes the stability of the investor base [6][7] - He encourages investors to understand and accept the long-term investment strategy, warning that those unable to tolerate short-term volatility should reconsider investing in his products [6][7]