Core Viewpoint - The private equity product "Jia Yue Yue Feng Investment Genesis" managed by Wu Yuefeng has shown a remarkable recovery in net value, climbing back to 0.9854 after previously dropping significantly below face value, indicating a volatile investment journey [1][2][3]. Group 1: Product Performance - The product's net value was reported at 0.9854 as of October 10, 2023, recovering from a low of below 0.4 [1][3]. - Over the past six months, the product experienced a dramatic increase of nearly 150%, showcasing extreme volatility with weekly fluctuations of up to 20% [16][17]. - The product's performance has been characterized by a "roller coaster" journey, with a significant drop in value in the second half of 2023, leading to a peak-to-trough decline of over 60% for early investors [10][16]. Group 2: Manager Background and Strategy - Wu Yuefeng, a prominent fund manager, returned to private equity with this product after leaving a previous firm, and his popularity has made the product a focal point for investors [4][6]. - The initial fund size was approximately 22 million RMB, peaking at over 150 million RMB, reflecting strong investor interest [6]. - The product's strategy has faced criticism for being overly aggressive, leading to significant drawdowns when market conditions changed [13][14]. Group 3: Market Context - The product's performance has been notably more volatile than broader market indices, missing several market rebounds, such as the "924 market" rally in 2024 [11]. - The fluctuations in net value have been compared to cryptocurrency trading patterns, highlighting the extreme nature of its performance [16][17]. - The recovery of the product's net value raises questions about future strategies for both the fund manager and investors as it approaches its initial value [18].