Core Viewpoint - The article discusses the rarity of fund managers maintaining their unique investment styles in the current public fund industry, amidst a trend of thematic investment strategies that often lead to homogenized stock holdings [1][2]. Group 1: Investment Strategies - Many fund managers are striving to preserve and enhance their personalized investment styles, resulting in distinctive fund products that stand out in terms of quality and performance [2][4]. - As of July 16, 2025, data shows that the highest net value of fund products has doubled, with many funds achieving over 30% returns primarily through concentrated holdings in one or two popular sectors, leading to a lack of differentiation among funds [3][4]. - Notable funds such as Guangfa Growth Navigator and Nuon Fund's Multi-Strategy Fund have achieved impressive returns of approximately 75% and 45% respectively, by avoiding a single-sector focus and emphasizing diversified stock selection strategies [4]. Group 2: Performance and Risk Management - The diversified selection strategy requires fund managers to invest more research effort across various sectors, including less popular industries, to achieve good returns [5][6]. - For instance, the Nuon Multi-Strategy Fund, managed by Kong Xianzheng, achieved a 45% return without heavy reliance on popular sectors, instead focusing on a balanced approach across agriculture, pharmaceuticals, chemicals, and machinery [5][6]. - Fund managers with extensive experience, such as Chen Peng and Wu Yuanyi, emphasize the importance of diversification to mitigate risks associated with concentrated investments, achieving returns of 49% and 75% respectively through balanced portfolios [6][7]. Group 3: Lessons from Market Cycles - Experienced fund managers recognize that while concentrated investments can yield quick returns, they also pose significant risks, as evidenced by past experiences of substantial losses during market downturns [7][8]. - The shift towards a diversified investment approach is seen as a response to the volatility associated with single-sector investments, with a focus on controlling drawdowns and ensuring long-term stable returns [7][8].

Core Viewpoint - In the current public fund industry, fund managers who can maintain their product characteristics while achieving good performance are considered "rare" [1] Group 1: Performance and Strategy - The best-performing funds in the market have achieved returns of over 100% this year, with many high-yield products relying on concentrated positions in one or two popular sectors [1] - Some fund managers emphasize a diversified investment strategy that aligns with their investment style, achieving notable performance without relying solely on popular sectors [2][3] Group 2: Individual Fund Performance - Notable funds with unique investment characteristics include: - GF Growth Navigator Fund with a return of approximately 75% - NuAn Multi-Strategy Fund with a return of about 45% - Southern Hong Kong Innovation Vision Fund with a return of 36% - Shenwan Hongxin LeRong Fund and Anxin Insight Growth Fund both around 49% [2] - These funds have not adopted a single-sector strategy, focusing instead on diversified stock selection [2] Group 3: Diversification and Risk Management - Fund managers employing a balanced strategy often have over 10 years of investment experience and have navigated multiple market cycles [2] - For example, the NuAn Multi-Strategy Fund has achieved a 45% return by diversifying across various sectors, including agriculture, pharmaceuticals, and chemicals, with no substantial heavy positions [3] - The GF Growth Navigator Fund's impressive 75% return is also based on a diversified portfolio across sectors like environmental protection, military, and automotive electronics [3] Group 4: Importance of Avoiding Concentration - Experienced fund managers emphasize the risks of concentrating on a single sector, which can lead to significant losses [5][6] - A shift towards a diversified investment approach has been noted among managers who previously relied on sector concentration, highlighting the importance of adapting to changing market conditions [5][6]