Core Viewpoint - The performance of key fund managers at Dongfang Fund, particularly Wang Ran and Li Rui, has raised concerns in the market due to their poor investment returns, leading to a potential trust crisis for the company [2][3]. Group 1: Fund Performance - Dongfang Fund currently manages a total of 123.4 billion yuan across 123 funds, but the active equity investment capabilities are under scrutiny due to negative returns [3]. - Wang Ran's three managed funds have all reported negative returns, with the best performance being -8.94% over her tenure [3]. - The Dongfang Quality Consumption One-Year Holding A/C classes have seen returns of -57.93% and -58.31%, with net values dropping to 0.424 yuan and 0.417 yuan respectively [3]. - The Dongfang Urban Consumption Theme Mixed Fund has also underperformed, with returns of 16.53%, -15.83%, and -28.70% over the past one, two, and three years, respectively [4]. Group 2: High Turnover Rates - Wang Ran's Dongfang Emerging Growth Fund has a turnover rate exceeding 600%, reaching 750% in Q2 2024, but this high turnover has not translated into improved returns, with a three-year loss of 38.71% [4][5]. - High turnover rates are indicative of unstable investment strategies, which contradict the advocated principles of value and long-term investing [5]. - Frequent trading increases transaction costs, which can further erode fund performance and negatively impact investor experience [5][7]. Group 3: Li Rui's Fund Performance - Li Rui's flagship fund, the Dongfang New Energy Vehicle Theme Mixed Fund, has seen a drastic decline in performance since 2022, with returns of -31.69%, -32.02%, and -2.11% in the following years, ranking at the bottom among peers [6]. - The fund's management scale has decreased significantly from 224.41 billion yuan at the end of 2021 to 78.58 billion yuan by mid-2024 [6]. - Another fund managed by Li Rui, the Dongfang Automotive Industry Trend Mixed A, has also seen its scale shrink from 1.4 billion yuan to 0.52 billion yuan over three years [6].

Core Viewpoint - The article discusses the poor performance of funds managed by Wang Ran, the head of the equity research department at Dongfang Fund, highlighting the risk of fund liquidation due to significant underperformance compared to benchmarks [1][2]. Fund Performance Summary - Wang Ran manages three funds with a total asset management scale of 205 million yuan, and the best return during his tenure is -10.19% [1]. - The Dongfang Emerging Growth fund has the worst performance among Wang's funds this year, with a net value increase of only 0.06%, ranking 2133 out of nearly 2300 similar products [1]. - Over the past three years, the Dongfang Emerging Growth fund has a return of approximately -40%, underperforming its benchmark by about 43 percentage points [1]. - The Dongfang Quality Consumption fund has a return of about -39%, underperforming its benchmark by 32 percentage points [1]. - The Dongfang Urban Consumption Theme fund has a return of about -31%, underperforming its benchmark by 18 percentage points [1]. Manager Background - Wang Ran has 10 years of experience managing public funds and has previously worked as a researcher in various sectors including transportation and retail [2]. - Since taking over the Dongfang Emerging Growth fund on June 25, 2015, it has consistently reported losses, with a tenure return of -2.14% as of August 8, 2023 [2][4]. Fund Details - The Dongfang Quality Consumption fund, managed by Wang since its inception on July 8, 2021, has a cumulative return of -57.85% and -58.54% for its A and C shares respectively, with a unit net value of only 0.4215 yuan and 0.4146 yuan [4][6]. - The fund focuses on the consumer sector, including industries such as liquor, home appliances, and pharmaceuticals, with top holdings including Yutong Bus and Gree Electric [4].

东方基金权益研究部总经理王然管理的多只产品长期业绩不佳，引发持有人强烈不满。部分投资者损失惨重，有人15万本金仅剩4万多元。东方基金作为老 牌公募机构，用时20年才突破千亿规模，但旗下"迷你基"扎堆现象严重，多只权益产品面临清盘风险。 基金经理业绩持续低迷 具体来看，东方民丰回报赢安混合规模不足300万元，东方创新医疗股票、东方匠心优选混合等5只产品规模不足3000万元。发起式基金中，东方专精特新混 合发起式规模不足1800万元，该产品将在今年底迎来"三年大考"。东方养老目标2050五年持有混合发起规模不足1.1亿元，该产品将在明年11月面临考验。 王然目前管理3只产品，现任基金资产管理总规模为2.05亿元。其在管基金最佳任期回报为-10.19%，创下其公募职业生涯的最差表现。东方新兴成长混合基 金今年以来收益微涨0.06%，在同类近2300只产品中排名2133位。东方品质消费一年持有期混合A在同类4500余只产品中排名4154位。 王然在2020年至2021年期间陆续卸任了多只产品，任职回报在4%至68%不等。从持仓情况看，她在2020年押中白酒股，东方新兴成长混合基金当年收益率 超过90%。2021年二三 ...