否认产品有清盘风险 将坚持长期持有策略

Core Insights - Lin Yuan's investment products have experienced significant performance fluctuations, with some underperforming the CSI 300 index and even incurring losses this year [2][3] - Lin Yuan maintains a long-term investment strategy without additional risk control measures or adjustments to existing holdings, denying any risk of product liquidation [2][4] Performance Overview - Among the 263 private funds managed by Lin Yuan, 18 have disclosed performance, all of which have underperformed the CSI 300 index as of September 30 [3] - The best-performing fund, "Lin Yuan Investment No. 218," achieved a return of 8.38% year-to-date, while the CSI 300 index rose by 13.25% in the same period [3] - Several funds, including "Lin Yuan Investment No. 173" and "Lin Yuan Investment No. 21," reported losses, with the former down 23.80% since inception [3][4] Reasoning Behind Performance - Lin Yuan attributes the underperformance to short-term price declines of held assets rather than issues with industry allocation or stock selection [4][5] - The investment philosophy focuses on long-term value, with no adjustments made for short-term market fluctuations [5] Market Outlook - Lin Yuan plans to continue focusing on long-term opportunities in the consumer and pharmaceutical sectors, while avoiding participation in popular sectors like new energy and artificial intelligence due to valuation uncertainties [6] - The company believes that quality firms in consumer and pharmaceutical sectors can withstand economic cycles and ensure long-term profit growth [6] Response to Market Concerns - Lin Yuan denies rumors of liquidation risks for his products, stating that liquidation only occurs upon contract expiration and that there are no current products at risk of liquidation due to net asset value hitting stop-loss thresholds [6][8] - The company emphasizes a stable investor structure, with less than 20% of investments from external sources, mitigating liquidity issues [6] Industry Perspective - Analysts note that Lin Yuan's strategy reflects the challenges of long-term value investing amid short-term market volatility, particularly in the consumer and pharmaceutical sectors [8] - Investors are advised to consider their risk tolerance and investment horizon when selecting private funds, especially those focused on long-term value strategies [8]