陈光明专户“封盘”！多只公、私募基金开启限购

Core Viewpoint - Chen Guangming, the founder and investment manager of Ruiyuan Fund, announced the "closure" of the Ruiyuan Insight Value series of private equity products starting in November, which has attracted significant attention in the asset management industry [1][3][4]. Summary by Relevant Sections Company Overview - Chen Guangming has over 25 years of experience in the Chinese capital market and is recognized as a practitioner of value investment in China [1][3]. - The Ruiyuan Insight Value series was launched in 2018 and 2021, each time generating over 10 billion yuan in sales from high-net-worth clients [1][3]. Recent Developments - The recent "closure" applies to both new and existing clients, meaning that even existing clients cannot add to their investments [3]. - Other public and private funds have also begun to issue "purchase limits" in response to the improving capital market, aiming to control product scale and protect the interests of existing investors [1][6]. Market Context - The asset management industry has seen a resurgence in fund issuance and increased enthusiasm for new capital entering the market [1][6]. - Several funds have implemented purchase limits, including Ningquan Asset and Yongying Fund, to maintain stable growth and protect investor interests [6][7]. Investment Philosophy - Chen Guangming advocates for a long-term investment approach, emphasizing the importance of accurately assessing the future value of enterprises as a key evolution in value investing [5]. - He promotes a mindset akin to farming, suggesting that investors should patiently cultivate their investments rather than seeking quick gains [5]. Industry Trends - The recent changes in performance evaluation mechanisms for fund companies are shifting the focus from "seller mentality" to "buyer mentality," which may help improve investor satisfaction in the long run [8]. - The new performance assessment framework aims to prioritize fund investment returns over scale and profit metrics, addressing the previous short-term behaviors in the industry [7][8].