Core Viewpoint - Liu Gesong, a well-known fund manager at GF Fund, has resigned from managing the GF Multi-Dimensional Emerging Stock Fund, which he has managed since November 5, 2018, achieving a return of 140.03% as of September 10, 2023. This resignation is considered a normal adjustment, and he will continue to manage other funds within the company [1][5]. Fund Management Changes - The fund manager change involves Liu Gesong being replaced by Zhou Zhishuo for the GF Multi-Dimensional Emerging Stock Fund due to work arrangements [2][4]. - Liu Gesong still manages five other funds, with a total asset size of 29.463 billion yuan [6]. Performance Metrics - Liu Gesong's management has seen significant success, with multiple funds achieving returns close to or exceeding 100%. The GF Multi-Dimensional Emerging Stock Fund has the highest return among his managed funds at 140.03% [5][6]. - Despite recent challenges in traditional sectors, Liu's funds have maintained strong performance, with only two out of the six funds showing negative returns over three years [5]. Industry Context - The resignation of Liu Gesong is part of a broader trend in the public fund industry, where many star fund managers are reducing their workloads or leaving the industry due to increasing management pressures [7][8]. - The public fund industry is transitioning from a "license dividend" phase to a "capability competition" phase, leading to a reallocation of value between public and private fund sectors [8].