外资公募首秀浮动费率，宏利基金与投资者“利益共生”

Core Viewpoint - Foreign-controlled public funds have been a significant force in the development of China's asset management industry, with Manulife Fund playing a crucial role in integrating global asset allocation frameworks with local industry research [1][4]. Group 1: Company Overview - Manulife Fund is the first public fund company in China to transition from a joint venture to 100% foreign-controlled status, allowing for deeper integration of international financial experience with the unique ecosystem of China's capital market [7]. - The company has consistently been at the forefront of industry innovation, launching various products such as the first industry umbrella fund in 2003, becoming one of the first FOF and pension FOF managers in 2017, and issuing the first green inclusive theme fund in 2024 [2][8]. Group 2: Investment Strategy and Performance - The newly launched floating fee rate fund, Manulife Smart Navigator Mixed Fund, is designed with a focus on long-term excess returns and aligns management fees with fund performance, reflecting a customer-centric service philosophy [5][26]. - Fund manager Meng Jie has been recognized for his ability to control drawdowns and achieve long-term excess returns, with his managed fund showing a maximum drawdown of -29.59%, significantly lower than the market average [10][16]. - Meng Jie employs a contrarian investment strategy, focusing on stock selection based on valuation and quality rather than market trends, which has led to consistent performance even in volatile market conditions [19][20]. Group 3: Market Context and Timing - The public fund industry in China is transitioning from a scale-driven model to a value-driven approach, with regulatory bodies emphasizing the optimization of fee structures to enhance investor experience [4]. - Current market conditions are favorable for investment, with policies being implemented to boost market confidence and a stable trading volume exceeding 1 trillion, indicating a good entry point for long-term investments [26].