Core Insights - The report highlights a significant performance divergence among the funds managed by Beixin Ruifeng, with some equity products achieving returns exceeding 80% while others recorded negative returns, reflecting varying strategies and styles in the current market environment [1][3]. Fund Performance - The top-performing fund, Beixin Ruifeng Advantage Industry (013242.OF), achieved an annual return of 84.45%, with a quarterly scale increase of 0.14 billion, reaching a total of 0.63 billion [2][3]. - Another notable fund, Beixin Ruifeng Quantitative Selection (007808.OF), delivered a 62.80% return, growing its scale to 0.17 billion [3]. - Funds managed by Hu Jianqiang and Yu Junhua, focusing on high-end manufacturing and industry research, also performed well with annual returns of 46.88% and 37.13%, respectively [3]. Consumer Sector Performance - In contrast, the Beixin Ruifeng Preferred Growth Fund (009954.OF) focused on consumer sectors, recorded a negative return of -3.26%, remaining stagnant at a scale of 0.23 billion [4]. - The Beixin Ruifeng Health Life Theme Fund (001056.OF) achieved a positive return of 32.46%, but its scale only increased by 0.01 billion, indicating a disparity in performance among products managed by the same fund manager [4]. Fund Scale and Market Position - The total scale of the nine disclosed products is approximately 3.24 billion, with an average scale of less than 0.4 billion per product, indicating a predominance of small funds [5][6]. - The Beixin Ruifeng Health Life Theme Fund stands out with a scale of 0.90 billion, while several other products remain below 0.7 billion [5]. Strategic Outlook - The report suggests that the performance divergence among funds is linked to the varying success of different asset styles in the current market [7]. - With the upcoming policy window for the "14th Five-Year Plan," there may be new opportunities for investment in domestic consumption and technological innovation, which are critical for Beixin Ruifeng to enhance its overall performance and scale [7].