Core Viewpoint - The introduction of the first batch of 26 new floating rate funds marks a significant reform in China's public fund industry, aiming to prioritize investor interests and create a "co-prosperity ecosystem" through performance-linked management fees [1][2]. Group 1: Fund Overview - The new floating rate funds, including the Xinao Advantage Industry Mixed Fund, are designed to align management fees with investor returns, breaking away from the traditional fixed fee model [2][3]. - The Xinao Advantage Industry Mixed Fund will have a management fee structure that varies based on performance, with rates of 1.2%, 0.6%, and 1.5% depending on the fund's performance relative to its benchmark [3][4]. - The fund's investment strategy will focus on technology growth sectors, with a stock allocation of 60% to 95% and a maximum of 50% in Hong Kong stocks [5][6]. Group 2: Manager and Investment Strategy - The fund will be managed by Wu Qingyu, who has a strong background in technology investments and a proven track record in the sector [6][12]. - Wu Qingyu's investment approach will utilize a GARP (Growth at a Reasonable Price) strategy, focusing on sectors such as AI, electronics, and automotive innovation [7][8]. - The fund aims to leverage the company's existing strengths in technology investments to deliver superior returns to investors [8][9]. Group 3: Performance and Market Context - Since its inception on May 29, 2023, the Xinao Advantage Industry Mixed Fund has achieved a performance growth rate of 15.94%, significantly outperforming its benchmark [7]. - The fund's recent performance has positioned it among the top 5% of similar funds, reflecting its resilience and adaptability in a challenging market environment [7][10]. - The current market conditions, characterized by liquidity and a favorable environment for technology stocks, are expected to support the fund's growth trajectory [8].