Core Viewpoint - The performance of Zhang Fusheng, a fund manager at the Fortune Fund, has significantly declined, particularly in the Fortune Clean Energy Industry Mixed A Fund, which has recorded a return of -37.91% over his tenure of 3 years and 60 days, raising concerns among investors about his management capabilities [2][5][7]. Fund Performance Summary - The Fortune Clean Energy Industry Mixed A Fund was established with an initial size of 17.51 billion yuan but has seen a reduction in net assets to 8.55 billion yuan as of June 30, 2025, reflecting a decrease of 14.19% [23][43]. - The fund's performance metrics show a year-to-date return of -3.45%, a 3-month return of -1.06%, and a 1-year return of 2.38%, with a 2-year return of -28.05% and a 3-year return of -49.66% [7][5]. - The fund's unit net value as of July 25, 2025, is 1.0043, with an overall return since inception of 18.11% [7]. Fund Manager Background - Zhang Fusheng has a diverse background in finance, having worked at Deloitte, China International Capital Corporation, and Gao Hua Securities before joining Fortune Fund in November 2021 [3][2]. - He has managed several funds, including the Fortune Value Growth Mixed Fund and the Fortune Automotive Smart Selection Mixed Fund, but his overall performance has been underwhelming, with the Fortune Automotive Smart Selection Mixed A Fund showing a return of -21.76% over 2 years and 301 days [5][25]. Investor Sentiment - Investors have expressed dissatisfaction with the fund's performance, with complaints highlighting significant losses, including a reported 48.16% decline for long-term holders [14][10]. - The high turnover rate of the fund, reaching 490.76% in Q2 2023, indicates frequent trading, which may contribute to increased volatility and costs, further impacting investor confidence [29][28].