奉旨吹牛 | 东方阿尔法产业先锋A成立四年净值六毛多“天下第一差基”

Core Viewpoint - The article discusses the poor performance of the Dongfang Alpha Industrial Pioneer A fund, which has seen a net value of only 0.6656 yuan since its inception, reflecting a decline of 33.44% over four years, leading to significant dissatisfaction among investors [3][15]. Fund Performance - The fund was established on July 21, 2021, and has a cumulative net value of 0.6656 yuan, with a performance drop of 33.44% since inception [4][8]. - In the past year, the fund has rebounded with a gain of 42.99%, outperforming the average of its peers, which gained 35.05% [15]. - Over the last three years, the fund has declined by 10.24%, significantly underperforming the average gain of 21.3% among similar funds [15]. - The fund's performance over the last two years shows a gain of 34.79%, closely matching the average of 34.89% [15]. Fund Management - Fund managers Yin Zhibin and Zhou Mi have been criticized for their management, with investors expressing dissatisfaction in comments on financial platforms [4][5]. - Yin Zhibin has managed the fund since January 30, 2024, achieving a return of 65.7% during his tenure, although this is not enough to recover from previous losses [4][6]. Market Strategy - The fund's strategy includes increasing positions in cyclical sectors related to domestic demand and focusing on companies with strong cash flow and competitive advantages [6]. - The fund is optimistic about the aluminum industry due to supply constraints and expects improved dividend capabilities from companies in this sector [6]. - The fund is also targeting leading companies in the domestic consumption sector, which have seen their valuations depressed and are expected to recover due to policy adjustments [6]. Fund Size and Investor Sentiment - The fund has experienced a significant decline in size, dropping from 22.15 billion units in Q3 2022 to 13.16 billion units in Q2 2025, a reduction of approximately 40% [15][16]. - Investor sentiment is largely negative, with many calling it the "worst fund" and expressing a desire for a change in management [5][15].