Core Viewpoint - The recent performance of Xinda Australia Fund has been disappointing, marked by significant personnel changes and poor fund returns, raising concerns about its management capabilities [1][2] Group 1: Personnel Changes - Vice General Manager Wang Jianhua is set to leave Xinda Australia Fund, following a series of high-profile departures, including several vice general managers and star fund manager Feng Mingyuan [1][2] - In the past year, a total of 7 fund managers have left the company, leading to questions about the stability and effectiveness of its investment management team [2] Group 2: Performance Issues - Xinda Australia Fund's non-money market funds have collectively lost over 20 billion yuan from 2022 to 2024, causing significant psychological pressure on investors [2] - Despite a growth in management scale in recent years, this increase has primarily come from money market funds, while non-money market fund management scale has not shown significant growth and has even declined at times [2] Group 3: Market Position and Future Outlook - The company, as a joint venture fund, is expected to leverage its Sino-foreign cooperation advantages to provide stable investment returns, but ongoing personnel turmoil and poor performance have put it in a challenging position [2] - The ability of Xinda Australia Fund to regain confidence and compete effectively in the market remains uncertain [2]