Core Insights - The trend of sharing real-time fund performance by investors and fund managers has gained significant popularity in 2023, with platforms like Ant Wealth and JD Finance becoming key channels for this activity [2][4][6] - The transparency of real-time fund performance allows ordinary investors, especially beginners, to learn about fund investments and has made "copying real-time operations" a fashionable practice [2][4] - However, the commercialization of this trend has led to concerns about the authenticity of shared performance, as some influencers may use it as a marketing tool rather than genuine investment sharing [6][8][9] Group 1 - The popularity of real-time fund performance sharing has surged, with many investors tracking the operations of top investors and fund managers [1][2] - Platforms like Ant Wealth showcase active users' performance, allowing investors to follow their trades and historical adjustments easily [2][3] - High-profile users on these platforms have reported significant returns, with some achieving over 3.2 million in earnings and a return rate exceeding 14% in a month [2][3] Group 2 - Fund managers are increasingly using real-time performance sharing as a tool for investor education, enhancing trust and engagement with investors [4][5] - The low barrier to understanding and replicating these operations helps novice investors learn about fund investments [4][5] - Fund managers' public investment actions can foster a sense of shared interests and risk with investors, potentially leading to longer holding periods for funds [5] Group 3 - The commercialization of real-time fund sharing has raised concerns, as some influencers may not have the necessary qualifications and may promote funds for personal gain [6][8] - The practice of using real-time performance as a marketing tool can mislead ordinary investors, who may not recognize the promotional nature of these activities [6][9] - The reliance on influencers for investment decisions can undermine the goal of fostering a healthy investment ecosystem, as it simplifies complex investment strategies into mere imitation [9]

Core Viewpoint - The popularity of real-time fund tracking by influential investors (referred to as "DVs") has surged in 2023, with many retail investors actively following and mimicking their investment strategies on platforms like Ant Wealth and JD Finance [1][2][3] Group 1: Investor Behavior - Retail investors are increasingly using social media to track the investment activities of top fund managers and influencers, often making decisions based on their trades [1][2] - The trend of "copying real-time operations" has become fashionable, with many investors sharing their own investment results and strategies [2][3] Group 2: Platform Features - Platforms like Ant Wealth utilize algorithms to rank active users based on their returns, allowing investors to easily track the performance and trading history of top investors [2] - The introduction of various leaderboards categorizes users based on different investment strategies, enhancing engagement and learning opportunities for novice investors [2] Group 3: Fund Manager Influence - Fund managers have started sharing their real-time investment activities, which has become a valuable tool for educating investors and building trust [4][5] - The visibility of fund managers' personal investments is believed to enhance investor confidence, as it aligns their interests with those of retail investors [4][5] Group 4: Marketing and Commercialization - The rise of real-time fund tracking has led to some influencers using their platforms as marketing tools, blurring the lines between genuine investment advice and promotional content [6][7] - Some influencers are reportedly backed by commercial entities that manage multiple accounts, raising concerns about the authenticity of their investment claims [6][7] Group 5: Compliance and Risks - The commercialization of real-time fund tracking raises compliance risks, as some practices may violate regulations regarding investment advice and fund sales [8] - The trend of simplifying investment decisions into a "copycat" approach undermines the educational goals of the fund industry, potentially leading to a less informed investor base [8]

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].