银华基金业务副总经理于蕾：力争赢收益、稳回撤 为持有人打造长期良好盈利体验

Core Viewpoint - The investment philosophy emphasizes maximizing long-term returns while controlling drawdowns, aiming to enhance the long-term returns and profit experience for investors [1][6]. Group 1: Investment Philosophy and Strategy - The company focuses on high win-rate assets as a primary source of excess returns [4]. - The investment framework developed over two decades in pension fund management aims to maximize long-term returns while controlling drawdowns [6]. - The multi-asset team integrates scientific management methods from pension funds into the "fixed income plus" business, emphasizing dynamic cross-asset and cross-industry comparisons [8]. Group 2: Performance and Achievements - As of September 30, the "Yinhua Shenghong Bond A" fund achieved a net value growth of 6.81% since February 18, 2025, outperforming the benchmark by 5.53% [10]. - The company ranked 4th among pension fund managers in the weighted average return of single plans for 2024 [10]. Group 3: Risk Management and Decision-Making - The company has established a comprehensive risk management system, including portfolio risk monitoring and market risk warnings [9]. - The investment decision-making process is based on a "high consensus, high belief" mechanism, ensuring efficient transformation of research results into actionable investment strategies [16]. Group 4: Future Outlook - The company holds an optimistic view on the equity market for the next two years, focusing on key variables such as price stability and real estate recovery [17]. - It plans to identify structural opportunities in sectors like technology innovation, aviation, hotels, and tourism as indicators of consumer recovery [17].