Core Insights - The recent recovery in the equity market has allowed several veteran fund managers to overcome previous performance challenges, with some returning to the "Double Ten Fund Manager" status, indicating over ten years of managing the same fund with an annualized return exceeding 10% [1][2] Performance Recovery - Active equity funds have shown a significant performance rebound, with the mixed equity fund index yielding over 15% this year, and more than a thousand active equity funds achieving returns exceeding 20% [2] - Notable veteran fund managers, such as Wei Dong from Guolian An Fund and Guo Jun from Bosera Fund, have seen their funds recover from substantial drawdowns, with Guolian An's fund returning over 20% this year and Bosera's fund achieving a 27.54% return [2][3] Investment Strategy Evolution - Many veteran fund managers have shifted their investment focus towards high-quality growth sectors, adapting their strategies to align with the current macroeconomic transition towards technology-driven and high-quality development [4][6] - Fund managers like Wang Peng from Guotai Junan have successfully identified and invested in high-growth stocks, contributing significantly to their funds' performance recovery [4][5] Long-term Investment Philosophy - The performance recovery of veteran fund managers underscores the resilience of their investment philosophies, demonstrating their ability to adapt strategies across different market phases [6][7] - Fund managers emphasize the importance of identifying leading companies in China's manufacturing sector as key to future investment success, with a focus on sectors like semiconductors and military industries [6][7]

Core Viewpoint - The article highlights the recovery of active equity funds, particularly those managed by veteran fund managers, who are regaining strong performance after a period of underperformance, with many achieving significant returns in the current market environment [1][2]. Group 1: Performance Recovery of Veteran Fund Managers - Many veteran fund managers are emerging from a period of poor performance, with some achieving returns exceeding 20% this year [2]. - Notable examples include Wei Dong from Guolian An Fund, whose fund has seen over 20% returns this year, and Guo Jun from Bosera Fund, whose fund achieved a 27.54% return [2][3]. - Yang Gu from Nuon Fund has also seen a recovery, with his fund returning 18.89% this year after a challenging period [3]. Group 2: Investment Strategy Evolution - Veteran fund managers are adapting their investment strategies, shifting focus towards high-quality growth sectors in response to changing market dynamics [4][5]. - The macroeconomic transition towards technology-driven, high-quality development is creating new investment opportunities, prompting fund managers to actively adjust their portfolios [5]. - Specific stock selections, such as WuXi AppTec and Sunshine Power, have significantly contributed to the performance of funds managed by Wang Peng and Wei Dong, respectively [5][6]. Group 3: Long-term Investment Philosophy - The article emphasizes the importance of a robust investment philosophy that can withstand market fluctuations, with veteran managers demonstrating their ability to navigate risks and seize opportunities [7][8]. - Managers like Yang Gu and Wei Dong highlight the significance of identifying leading companies in China's manufacturing sector as key to future investment success [7][8]. - The article notes that while some fund managers have successfully recovered, many are still working to enhance their investment frameworks and capabilities [8].