Core Viewpoint - The 22nd Fund Industry Golden Bull Award results highlight the shift towards high-quality development in the public fund industry, emphasizing long-term performance and investor satisfaction as key themes [1]. Group 1: Fund Manager Insights - Dai Jun, the fund manager at Dacheng Fund, has been recognized for his long-term performance, managing the Dacheng Optimal Mixed Fund, which won the "Five-Year Open Mixed Continuous Excellence Golden Bull Fund" award [2]. - Dai Jun emphasizes a balanced investment approach, advocating for a flexible strategy that adapts to market changes while focusing on deep research to enhance stock selection profitability [2][3]. - His investment philosophy is rooted in the principle of avoiding extremes, combining value and growth styles to achieve resilience in various market conditions [4]. Group 2: Investment Strategy - Dai Jun's investment journey began with challenges, including a significant drawdown exceeding 40% shortly after he started managing funds, which led him to prioritize positive returns [3]. - He has developed a five-tier pricing mechanism for stock valuation, which includes asset pricing, earnings pricing, growth pricing, trend pricing, and bubble pricing, allowing for informed investment decisions [5][6]. - The focus on maintaining a high probability of profitability has resulted in a historical success rate of over 50% for the stocks he has traded [5]. Group 3: Portfolio Management - Dai Jun's portfolio management strategy involves a balanced approach across asset classes, industries, and styles, avoiding single-sided bets and maintaining a diversified portfolio [8][9]. - He primarily invests in consumer, pharmaceutical, and manufacturing sectors, which he believes can consistently create value [9]. - The "358" holding strategy is employed to manage risk and ensure a balance between safety and profitability, allowing for adjustments based on market conditions [10]. Group 4: Future Outlook - Looking ahead, Dai Jun anticipates that the period from 2025 to 2035 will be crucial for industrial upgrades, emphasizing the need for fund managers to enhance their capabilities to navigate complex market environments [11]. - His long-term investment philosophy focuses on maintaining a respectful attitude towards the market, aiming for sustainable returns rather than short-term gains [11].

戴军，2011年6月加入大成基金，曾担任研究部研究员、行业研究主管、基金经理助理、研究部副总 监，现任研究部总监、基金经理。其管理的大成优选混合（LOF）获第22届基金业金牛奖"五年期开放 式混合型持续优胜金牛基金"奖项。 在公募行业，历经多轮牛熊洗礼后，长期业绩依然亮眼的基金经理并不多见。大成基金研究部总监戴军 就是其中之一。十余年淬炼，不断破局生长，如今的他逐渐成为深谙均衡投资之道、坚守高盈利概率的 老将。 "中庸不是平庸，而是可持续。"近日，戴军在接受中国证券报记者专访时表示，于他而言，均衡投资是 一种主动选择，在各类风格策略中寻求有原则的灵活，并以此应对市场风云变幻。在投资上，他倾向于 扎根深度研究提升选股盈利概率，用组合管理抵御市场波动，在聚焦消费、医药、制造业赛道的同时， 持续拓展能力圈边界。 选择均衡 锚定正收益 戴军的基金经理之路，起步时并不平坦。2015年5月21日，戴军正式管理基金产品。起初，A股市场延 续一路上行态势，但几周后就出现大幅调整。 "我当时在笔记本上写了A、B两个计划，A计划是应对市场继续上涨，而B计划应对下跌，结果B计划还 没写完，就开始跌了。"回忆起那段经历，戴军依然历历 ...