Core Viewpoint - The resignation of Chen Zhenyu, a fund manager of the Anxin Value Growth Mixed Fund, raises questions about the underlying reasons despite the fund's decent performance during his tenure [4][13]. Group 1: Fund Manager Change - Chen Zhenyu has been managing the Anxin Value Growth Mixed Fund since March 18, 2020, alongside Nie Shilin, and will leave the position on February 25, 2026, due to "work needs" [2][4]. - During Chen's management, the fund achieved a total return of 114.64% and an annualized return of 13.71%, ranking in the top 25% among its peers [4][6]. Group 2: Fund Performance and Structure - The Anxin Value Growth Mixed Fund has shown satisfactory performance, with a fund size of 4.24 billion yuan and a ranking of 205 out of 915 in its category [6]. - Chen Zhenyu's management style involved a dual-manager structure, which has led to a low correlation in performance among the funds he manages, indicating a diversified investment strategy [7][8]. Group 3: Market Reactions and Trends - The frequent changes in fund managers at Anxin Fund, with 42 products experiencing manager changes since 2025, suggest a trend of instability within the firm [9]. - Institutional investors have shown a keen sensitivity to changes, as evidenced by the high redemption rates following cash distributions, indicating a potential lack of confidence in the fund's management [10][13].