Core Viewpoint - The performance of veteran fund managers has rebounded strongly, challenging the notion that they are outdated and unable to compete with younger managers who focus on high-growth sectors [2][10]. Group 1: Performance Recovery of Veteran Fund Managers - Veteran fund managers have demonstrated a strong recovery in performance, with many achieving record highs in net value in January 2026, despite previous criticisms and market challenges [3][4]. - Notable examples include Wei Dong from Guolian An Fund, whose managed fund's annualized return has returned to over 10%, and Gu Jun from Bosera Fund, who achieved a 71.3% return in the past year [3][4]. - Other veteran managers, such as Qi Fapeng and Xu Lirong, have also seen their funds reach historical net value highs, indicating a broader trend among experienced fund managers [4]. Group 2: Challenges Faced by Veteran Fund Managers - The market has seen a significant divide, with veteran managers facing pressure from new, high-performing managers who focus on high-volatility sectors, leading to doubts about the capabilities of older managers [5][6]. - Some veteran managers have struggled with large fund sizes, which can limit their ability to adapt quickly to market changes, further intensifying scrutiny on their performance [5][6]. Group 3: Trust Restoration Among Investors - As the performance of actively managed equity funds improves, investor confidence is gradually being restored, reversing previous trends of fund redemptions [8][9]. - Investors have expressed mixed feelings about their experiences, with some reporting significant losses followed by recoveries, highlighting the importance of veteran managers in navigating complex market conditions [9]. - The resurgence of veteran fund managers is seen as a critical factor in rebuilding trust within the public fund industry, as they leverage their experience to manage risks and capitalize on opportunities [8][10].

Core Viewpoint - The article discusses the resurgence of veteran fund managers in the public fund industry, highlighting their ability to adapt and achieve strong performance despite recent market challenges and skepticism about their relevance [2][10]. Group 1: Performance of Veteran Fund Managers - Veteran fund managers have demonstrated a strong recovery in performance, with many achieving record highs in net value and returns in early 2026, despite facing significant market fluctuations in previous years [3][4]. - Notable examples include Wei Dong from Guolian An Fund, whose fund's annualized return has returned to over 10%, and Gu Jun from Bosera Fund, who achieved a 71.3% return in the past year [3][4]. - Other veteran managers, such as Qi Fapeng from Guotou Ruijin Fund and Zhou Weiwen from China Universal Fund, have also seen their funds reach historical highs, showcasing the effectiveness of their long-term investment strategies [4]. Group 2: Challenges Faced by Veteran Fund Managers - The market has seen a significant style divergence, leading to periods where veteran managers underperformed compared to newer managers who focused on high-growth sectors, resulting in a loss of investor patience and confidence [6]. - Some veteran managers faced criticism for their performance and were perceived as outdated, especially when managing larger funds that limited their flexibility in adjusting portfolios [6][7]. - Despite these challenges, many veteran managers have maintained their investment philosophies and adapted their strategies to align with market changes, demonstrating resilience and a commitment to continuous learning [7]. Group 3: Rebuilding Investor Trust - As the performance of actively managed equity funds improves, investor confidence is gradually being restored, reversing previous trends of fund redemptions and skepticism towards the public fund industry [8][9]. - The article highlights that veteran fund managers, through their stable and predictable performance, are helping to mend the trust gap that had developed among investors due to past volatility [8][9]. - Feedback from investors indicates a renewed faith in veteran managers, as many have seen their investments recover from significant losses, reinforcing the value of experienced fund management [9].