Core Viewpoint - The departure of fund manager Yuan Zuodong from Xingyin Fund marks a significant change in the company's equity investment team, with implications for its fund management strategy and performance [2][8]. Group 1: Manager Departure - Yuan Zuodong announced his resignation due to personal reasons, effective October 28, impacting eight funds he managed [2]. - Yuan had a management scale of 2.039 billion yuan, with all funds under his management achieving positive returns during his tenure [2][6]. - His departure follows a trend of increasing managerial changes within Xingyin Fund, indicating potential instability in the management team [8][13]. Group 2: Fund Performance and Structure - Under Yuan's management, the Xingyin Fund's performance was notable, with the Xingyin Yield Enhancement Fund returning 48.06% from February 19, 2020, to his departure [2]. - The company currently manages 113 funds, with a total public fund scale of 102.739 billion yuan, where bond funds dominate the portfolio [5][6]. - The largest fund, Xingyin Cash Growth, reached 17.3 billion yuan, while many funds have low individual scales, indicating a concentration of assets in a few products [6]. Group 3: Management Changes and Strategy - Xingyin Fund has experienced significant management turnover since 2021, with multiple high-level positions changing hands, including the chairman and general manager [8][10][12]. - The company aims to enhance its equity investment capabilities and adapt to regulatory changes, focusing on product precision and deep customer engagement [14]. - The recent appointment of a new management team is expected to maintain the company's investment philosophy and product strategy despite the changes [2][14].