Core Viewpoint - The increasing popularity of A-shares has led many public fund managers to open real-time trading accounts on online platforms to showcase their performance [1][2]. Group 1: Fund Managers Opening Real Accounts - Numerous public fund managers, including those from Guojin Fund and Guotai Fund, have opened real accounts on platforms like Tiantian Fund and Ant Wealth [2][10]. - The total amount of these real accounts is generally high, with some exceeding 4 million yuan, such as Guojin Fund's Yao Jiahong, whose account reached 4.1394 million yuan [11]. Group 2: Performance and Investment Choices - Some fund managers have reported holding profits exceeding 1 million yuan, indicating positive returns [3][13]. - Fund managers predominantly invest in their own products or those from their fund companies, with no evidence of investing in products from other companies [8][9]. Group 3: Comparison with Retail Investors - Despite the reported profits, fund managers' returns often lag behind those of ordinary investors, with the top retail investors achieving monthly returns between 30.41% and 39.39% [16][17]. - Over the past year, no fund manager has made it to the top performance rankings, which raises questions about their short-term investment capabilities compared to retail investors [18][19]. Group 4: Implications and Industry Perspectives - The practice of fund managers opening real accounts may enhance trust and transparency with investors, especially for smaller firms or emerging managers [22][23]. - However, there are concerns that these accounts primarily serve as a marketing tool for their own products rather than providing genuine investment insights [12][21][26].

Core Viewpoint - The increasing popularity of A-shares has led many public fund managers to open real-time fund accounts on online platforms to showcase their performance, with some managers achieving significant returns [1][6]. Group 1: Fund Managers' Real Accounts - Numerous public fund managers, including those from Guojin Fund and Guotai Fund, have opened real accounts on platforms like Tiantian Fund and Ant Wealth, with total amounts often exceeding 1 million yuan [1][4]. - Fund managers typically invest in their own products or those from their fund companies, with no evidence of investing in products from other companies [4][5]. - The total amount in these real accounts ranges from over 300,000 yuan to more than 4 million yuan, with Guojin Fund's Yao Jiahong having a total amount of 4,139,400 yuan [4][6]. Group 2: Performance and Market Reaction - Despite some fund managers showing substantial returns, none have made it to the top 100 performance list for the past month, indicating that individual investors may be outperforming them [7]. - The short-term performance of fund managers often does not match that of ordinary investors, leading to dissatisfaction among some investors [6][7]. - The long-term performance of fund managers is also under scrutiny, as they have not appeared in the top rankings for one-year returns, suggesting that their investment strategies may not be as effective as those of individual investors [7][8]. Group 3: Implications of Real Accounts - The practice of fund managers opening real accounts is seen as a way to build trust and transparency with investors, particularly for smaller firms or emerging managers [5][8]. - However, there are concerns that focusing solely on self-managed products may limit the demonstration of true asset allocation logic and could serve more as a marketing tool than a genuine investment strategy [5][9]. - The core value of fund managers' holdings lies in understanding their investment framework and discipline, rather than simply replicating their strategies [9].