基金经理自己重仓科技股大赚，却为基民配置“老登股”

Core Viewpoint - The public fund industry is entering a new stage of high-quality development, emphasizing the interests of investors, but there are still loopholes in the mechanisms binding fund managers' interests to those of investors [1][9]. Group 1: Fund Manager Operations - A fund manager from an insurance-backed public fund has profited significantly from investing personal funds in technology stocks, while the managed public fund is heavily invested in value stocks, leading to poor performance [2][4]. - The disparity in investment strategies between personal accounts and public fund products raises ethical concerns regarding the alignment of interests between fund managers and investors [3][4]. - Some industry insiders argue that fund managers may prioritize value stocks to mitigate volatility risks for investors, but the core issue remains the misalignment of interests due to differing investment strategies [3][4]. Group 2: Regulatory Environment - Different companies have varying compliance standards regarding fund managers' personal trading activities, with some prohibiting it entirely while others allow it under strict reporting procedures [5][6]. - The current regulatory focus is primarily on "trading similarity," leaving gaps in oversight regarding "differential operations" by fund managers [10]. - There are calls for improved regulatory measures, including transparency in fund managers' personal account holdings and self-audits by fund companies to address discrepancies in investment strategies [10][11].