Core Insights - In the first three quarters of this year, 15 mixed funds experienced a decline of over 10%, with 11 of these funds managed by GF Fund [1] - All 11 underperforming funds are managed by Wang Mingxu, who has nearly 7 years of experience managing funds at GF Fund [1] Fund Performance Summary - The worst-performing fund is GF Value Advantage Mixed, with a decline of 15.37% [2] - Other notable declines include GF Domestic Demand Growth Mixed C at -15.01% and GF Domestic Demand Growth Mixed A at -14.77% [2] - The performance of additional funds managed by Wang Mingxu includes GF Value Preferred Mixed C at -13.59% and GF Value Preferred Mixed A at -13.34% [2] - The overall trend indicates a significant underperformance of GF Fund's mixed funds compared to the market [1][2]

Core Viewpoint - In the first three quarters of this year, 15 mixed funds experienced a decline of over 10%, with 11 of these funds managed by GF Fund, indicating significant underperformance in this category [1] Group 1: Fund Performance - The top underperforming fund is GF Value Advantage Mixed, which declined by 15.37% [2] - Other notable declines include GF Domestic Demand Growth Mixed C at -15.01% and GF Domestic Demand Growth Mixed A at -14.77% [1][2] - The performance of GF funds is concerning, as they occupy 11 out of the 15 positions on the decline list [1] Group 2: Fund Manager - All 11 underperforming funds are managed by Wang Mingxu, who has nearly 7 years of experience managing funds at GF Fund [1] - Wang Mingxu's previous roles include positions at Northeast Securities, Life Insurance Asset Management, and other financial institutions, showcasing a robust background in investment management [1]

Core Insights - In September, five mixed funds managed by GF Fund ranked among the top ten funds with the largest declines, each experiencing a drop of over 10% [1][2] Group 1: Fund Performance - The five funds with significant declines include GF Value Advantage Mixed (-11.53%), GF Value Preferred Mixed C (-11.00%), GF Value Preferred Mixed A (-10.96%), GF Domestic Demand Growth Mixed C (-10.11%), and GF Domestic Demand Growth Mixed A (-10.10%) [1][4] - All five funds are managed by Wang Mingxu, who has nearly seven years of experience managing funds and has held various positions in the finance sector [1][2] Group 2: Fund Holdings - The top ten holdings for GF Value Advantage Mixed include Midea Group, Jiangsu Bank, Yangtze Power, Longxin Group, TCL Electronics, Chengdu Bank, Sifang Jingchuang, Hangzhou Bank, Lakala, and Kweichow Moutai [1][2] - Similar holdings are observed in other funds, with a consistent focus on large-cap blue-chip stocks and undervalued sectors, reflecting Wang Mingxu's investment style [2]

Core Insights - In September, 81.81% of the 8627 mixed funds with comparable performance saw an increase in net value, while 1549 funds experienced a decline [1] - Fourteen mixed funds achieved a monthly increase of over 25%, with the top performers being 嘉实新优选混合, 东方新能源汽车主题混合, and others, showing returns between 27.03% and 30.17% [1][2] - 嘉实新优选混合 fund, established in April 2016, reported a year-to-date return of 54.33% and a cumulative net value of 1.4440 yuan as of September 30, 2025 [1][2] Fund Performance - 嘉实新优选混合 increased its allocation to leading lithium battery equipment companies, with top holdings including 宁德时代 and 星宇股份 as of June 30 [2] - 泉果旭源三年持有期混合A, the largest fund by size, had a monthly increase of 26.02% and a year-to-date return of 48.80%, with a cumulative net value of 1.1172 yuan [3] - The top holdings of 泉果旭源三年持有期混合A include 科达利 and 腾讯控股, focusing on sectors like high-end manufacturing and internet companies [3] Declining Funds - Eight mixed funds experienced a decline of over 10% in September, with five belonging to 广发基金, showing declines ranging from 10.10% to 11.53% [4]