Group 1 - The market is experiencing growth, leading to increased discussions online about investment opportunities [1] - Platforms like Reddit are becoming popular venues for conversations regarding stocks, funds, and ETFs that may drive future performance [1]

Core Insights - Hainan Xiwa, a private equity fund management company, is celebrating its ten-year anniversary by gifting mobile phones to investors who bought its fund in 2015, highlighting the journey of investors over the past decade [2] - The average return for public funds that have been established for over ten years is 93.4%, with an average annualized return of 6.1%, indicating a generally positive performance despite market fluctuations [3][4] - A significant number of funds have shown strong performance, with 97.2% of funds established for over ten years reporting positive cumulative returns [3] Fund Performance Overview - As of September 26, 2025, the top-performing fund, Huashang New Trend Preferred, achieved a return of 649.2% over the past decade, with an annualized return of 22.3% [6][7] - The performance of various fund types shows that equity funds have outperformed others, with mixed equity funds rising by 123.3% and stock index funds by 99.1% over the past ten years [4][5] - Conversely, bond funds and money market funds have lower returns, with bond funds increasing by 40.7% and money market funds by 23.2% [4][5] Underperforming Funds - Despite the overall positive trend, 58 funds have recorded losses over the past decade, with the worst performer, China Merchants CSI 300 Real Estate A, showing a loss of 48.2% [8][9] - Several funds that were once large in scale have also underperformed, with losses ranging from 1.3% to 25% over the same period [8][9] - Frequent changes in fund managers and high turnover rates in holdings have been identified as contributing factors to the poor performance of some funds [9]