Group 1 - The stock market has experienced rapid rotation among various themes this year, including robotics, large models, innovative drugs, new consumption, military industry, and oil and gas, providing opportunities for different public funds to perform positively despite net value fluctuations [2] - Dongwu Fund's 12-year veteran fund manager Zhou Jian has struggled to achieve positive returns in 2025, with his managed funds totaling only approximately 220 million yuan and the best return during his tenure being less than 40% [2][3] - The Dongwu Allocation Optimization Fund, managed by Zhou Jian, had a net value growth rate of about 10.37% last year, ranking among the top 500 in its category, but its performance this year has significantly declined, placing it in the bottom half of its peers [3] Group 2 - The fund's performance issues may stem from the timing of heavy investments in certain stocks, such as Shenghong Technology, which saw its stock price double this year but was not included in the fund's top holdings until the first quarter of this year [3][4] - The fund's investment strategy focuses on long-term growth stocks and aims to optimize asset allocation based on market conditions, with a benchmark comprising the CSI 300 Index and the China Bond Composite Index [4][5] - Dongwu Fund's overall asset size has decreased from 39.857 billion yuan to 30.804 billion yuan, and its ranking has dropped from 94th to 97th, reflecting broader challenges within the fund [6] Group 3 - The Dongwu Double Triangle Fund, a historical flagship fund, has also faced difficulties, with its annualized returns ranking second to last in its category, and it has experienced significant declines since 2021 [6][7] - The fund's recent quarterly report indicated a risk of liquidation due to its net asset value falling below 50 million yuan for 60 consecutive working days, prompting the fund manager to take appropriate measures [7]