Group 1 - The core point of the news is the announcement by Qianhai Kaiyuan Fund regarding the appointment of Wang Siyue as a new fund manager for the Qianhai Kaiyuan Belt and Road Mixed Fund [1][2] - Wang Siyue has a background in risk control and auditing, having worked at Invesco Great Wall Fund Management Company before joining Qianhai Kaiyuan Fund in May 2018 [1] - The Qianhai Kaiyuan Belt and Road Mixed Fund A/C was established on April 29, 2015, and November 16, 2015, respectively, with year-to-date returns of 4.79% and 4.72%, and cumulative returns since inception of -40.90% and -35.60% [1] Group 2 - The fund is managed by Qianhai Kaiyuan Fund Management Co., Ltd., and the announcement is made in accordance with the "Measures for the Administration of Information Disclosure of Publicly Raised Securities Investment Funds" [2] - Wang Siyue will be co-managing the fund alongside another fund manager, Wu Guoqing [2]

Core Viewpoint - The article discusses the investment journey of Wu Guoqing, a fund manager at Qianhai Kaiyuan, highlighting his transition from traditional cyclical investments to a focus on cyclical growth, which has led to significant performance improvements in 2023 [1][4]. Investment Background - Wu Guoqing holds a PhD in Economic Management from Tsinghua University and began his career as a researcher in the pharmaceutical industry before shifting to gold and non-ferrous metals, focusing on cyclical stocks [2]. - His management career started in 2013 at Southern Fund, where he managed enterprise annuities and specialized accounts, later joining Qianhai Kaiyuan Fund in 2015 to focus on public fund management [3]. Performance Highlights - Wu has achieved continuous positive returns for six years, with a notable performance surge in 2023, where his fund, Qianhai Kaiyuan Jiaxin Mixed Fund, recorded a 57% return, placing it among the top active equity funds [4][5]. - His performance over the years shows a mix of traditional cyclical investment returns and a gradual shift towards cyclical growth, with specific annual returns detailed as follows: - 2018: -8.12% - 2019: +23.12% - 2020: +39.21% - 2021: +18.36% - 2022: +0.33% - 2023: +1.99% - 2024: +1.11% - 2025 (YTD): +25.51% [4]. Strategy Evolution - Wu began expanding his traditional cyclical investment framework to include cyclical growth in 2020, which has now proven successful in 2023 [4][5]. - His approach includes a significant overhaul of the Qianhai Kaiyuan Jiaxin Mixed Fund, integrating cyclical growth strategies into its portfolio, focusing on sectors like robotics, automotive, and power equipment [5]. Investment Style - Wu's current investment style is characterized by a dual focus on cyclical growth while maintaining some traditional cyclical strategies in other funds, indicating a cautious and gradual approach to expanding his investment capabilities [8]. - The Qianhai Kaiyuan Jiaxin Mixed Fund is fully invested in cyclical growth, while another fund maintains a balance between gold and cyclical growth, showcasing a blend of defensive and offensive strategies [8].