Core Viewpoint - The recent resignation of prominent fund manager Liu Gesong from managing a long-standing product has raised concerns among investors, although industry insiders confirm he has no plans to leave the company [1][4]. Group 1: Fund Manager Changes - Liu Gesong has made two adjustments to his managed products within six months, with the latest being the resignation from managing the "Guangfa Multi-Asset Emerging Stock" fund, which he had managed for nearly seven years [2][4]. - Following his resignation, Liu's managed product count has decreased to five, with the latest managed scale dropping from 31.295 billion to 29.463 billion yuan, a reduction of 6% from its peak of 84.343 billion yuan [4]. Group 2: Industry Trends - The trend of "reducing burden" among well-known fund managers is becoming more common, with many gradually transferring management responsibilities to newer managers through a process of joint management [5][7]. - The public fund industry is experiencing a significant increase in the turnover of fund managers, with 293 managers having left their positions this year, a 23% increase compared to the same period last year [5][6]. Group 3: Investor Reactions - Investors are often sensitive to changes in fund management, leading to uncertainty about whether to observe patiently or redeem their investments [1][9]. - Historical data shows that after changes in fund managers, many products experience a decline in scale, indicating that investor confidence may wane following such transitions [8][10].

Core Viewpoint - The recent resignation of prominent fund manager Liu Gesong from managing the "Guangfa Multi-Asset Emerging Stock" fund has raised concerns among investors, although industry insiders confirm he has no plans to leave the company [2][5]. Group 1: Fund Manager Changes - Liu Gesong has made two adjustments to his managed products within six months, first adding two co-managers to "Guangfa Small Cap Growth" in March and then resigning from "Guangfa Multi-Asset Emerging Stock" in September [3][5]. - Following his resignation, Liu's managed product count decreased to five, with the latest managed scale dropping from 31.295 billion to 29.463 billion yuan, a reduction of 6% from its peak of 84.343 billion yuan [5]. Group 2: Industry Trends - The trend of "senior managers reducing their load" is becoming more common, with many well-known fund managers gradually transferring management responsibilities to newer managers as part of a talent development strategy [2][6]. - The public fund industry has seen a significant increase in manager turnover, with 293 managers leaving their positions this year, a 23% increase compared to the same period last year [6]. Group 3: Investor Reactions - Investors are often sensitive to changes in fund management, leading to questions about whether to observe patiently or redeem their investments [2][10]. - Historical data shows that fund sizes often decline after a manager's departure, as seen with former manager Bao Wuke, whose products shrank by nearly 30% following his exit [9]. Group 4: Recommendations for Investors - Industry experts suggest that investors should not rush to make decisions after a fund manager change, but rather observe the new manager's investment style and capabilities over time before deciding whether to continue holding the fund [11].

Core Viewpoint - The recent resignation of prominent fund manager Liu Gesong from the management of a long-standing fund has raised concerns among investors, although industry insiders confirm he has no plans to leave the company [3][7]. Group 1: Fund Manager Changes - Liu Gesong has announced his resignation from the management of the "Guangfa Multi-Asset Emerging Stock" fund, which he managed for nearly seven years, with the new manager being Zhou Zhishuo [4][5]. - Following this resignation, Liu's managed products have decreased from six to five, with the total managed assets dropping from 31.295 billion to 29.463 billion yuan, a reduction of approximately 6% from his peak of 84.343 billion yuan [6][7]. Group 2: Industry Trends - The trend of "reducing the burden" among star fund managers is becoming more common, with many experienced managers gradually transferring product management to newer managers through a process of co-management [7][10]. - The public fund industry is witnessing a significant increase in the turnover of fund managers, with 293 managers having left their positions this year, a 23% increase compared to the same period last year [7][9]. Group 3: Investor Reactions - Investors are often uncertain about how to react to changes in fund management, with some expressing concerns about the capabilities of new managers and the potential impact on fund performance [11]. - Historical data shows that fund sizes often decline following the departure of well-known managers, indicating a potential risk for investors [11].

Core Viewpoint - The recent resignation of prominent fund manager Liu Gesong from managing the "Guangfa Multi-Asset Emerging Stock" fund has raised concerns among investors, although industry insiders confirm he has no plans to leave the company [1][4]. Group 1: Fund Manager Changes - Liu Gesong has made two adjustments to his managed products within six months, with the latest being the resignation from the Guangfa Multi-Asset Emerging Stock fund, which he managed for nearly seven years [2][4]. - Following his resignation, Liu's managed product count has decreased to five, with the latest managed scale dropping from 31.295 billion to 29.463 billion yuan, a reduction of 60% from his peak of 84.343 billion yuan [4]. Group 2: Industry Trends - The trend of "reducing burdens" among top fund managers is becoming more common, with many gradually transferring management responsibilities to new managers through a process of hiring, co-management, and eventual resignation [5][7]. - The public fund industry is experiencing a significant increase in fund manager turnover, with 293 managers having left their positions this year, a 23% increase compared to the same period last year [5]. Group 3: Investor Reactions - Investors are often anxious about changes in fund management, leading to questions about whether to observe patiently or redeem their investments [1][9]. - Historical data shows that fund sizes often decline following the departure of well-known fund managers, indicating a potential lack of confidence from investors in new management [8][10].

Core Viewpoint - Liu Gesong has stepped down from managing the GF Multi-Dimensional Emerging Stock Fund, which will now be independently managed by Zhou Zhishuo, marking a rapid transition in management style at GF Fund [1][2][4]. Group 1: Management Changes - Liu Gesong and Tang Xiaobin initially co-managed the GF Multi-Dimensional Emerging Stock Fund, with Zhou Zhishuo being appointed as a co-manager in August. Following Tang's departure, Liu has also resigned, making this Zhou's first independently managed fund [2][4]. - The trend of experienced managers mentoring younger ones, referred to as "old leads new," has been prevalent at GF Fund, with Liu Gesong previously mentoring new managers like Wu Yuanyi and Chen Yunzong [4][5]. Group 2: Fund Performance and Strategy - The GF Multi-Dimensional Emerging Stock Fund had an approximate scale of 1.855 billion yuan as of the end of Q2 2025 [4]. - Liu Gesong continues to manage five other funds, with a total asset scale exceeding 30 billion yuan. His investment strategy has diversified, focusing more on new economy sectors, including internet and new consumption [7][8]. - Liu's recent portfolio adjustments include a significant increase in holdings of Hong Kong-listed stocks, which now account for 43% of the fund's total assets, reflecting a shift in investment strategy [8][10]. Group 3: Market Outlook - Liu Gesong has expressed optimism about the potential of Hong Kong stocks, particularly those with unique characteristics, due to improving domestic economic conditions and global market dynamics [10]. - The macroeconomic outlook suggests that the potential for interest rate cuts by the Federal Reserve may enhance the attractiveness of RMB assets, leading to increased risk appetite for both A-shares and Hong Kong stocks [10].

Core Viewpoint - The article discusses the trend of top public funds hiring young talent as co-managers, highlighting the successful performance of young fund managers Chen Yunzong and Wu Yuanyi under the mentorship of experienced managers Liu Gesong and Li Yaozhu [1][3][9]. Group 1: Talent Acquisition Strategy - The hiring strategy of Guangfa Fund focuses on "old brings new," allowing experienced managers to mentor younger talent, which enhances team competitiveness and product growth [3][9]. - Chen Yunzong and Wu Yuanyi were both appointed as fund managers through this strategy, indicating the confidence of their senior managers in their stock-picking abilities [1][3]. Group 2: Performance of Young Managers - Wu Yuanyi's fund has achieved a return of over 40% this year, ranking ninth in the entire market, showcasing his effective investment strategy [1][7]. - Chen Yunzong's fund has also performed well, with a return of 18% this year, indicating his capability in selecting stocks across various sectors [4][7]. Group 3: Investment Strategies - Both young managers have diversified their portfolios, avoiding concentration in a few popular sectors, which has led to their funds outperforming many competitors that focus on trending themes like AI [10]. - Wu Yuanyi's top holdings include companies from various industries, such as toys, jewelry, and military communications, demonstrating a broad investment approach [9][10]. - Similarly, Chen Yunzong's top holdings span sectors like automotive, military, and renewable energy, reflecting a strategy that emphasizes diversification over chasing hot trends [10].