Core Viewpoint - In April 2025, several equity funds under GF Fund experienced significant declines, with 14 funds dropping over 8%, particularly in the oil-related QDII funds managed by Yao Xi, which saw declines exceeding 10% [1][3]. Group 1: Fund Performance - The oil-related QDII funds reported a maximum decline of 13.6%, all managed by Yao Xi [1][4]. - The GF High-end Manufacturing Stock C fund, managed by Zheng Chengran, had a decline of 10.04%, with a cumulative return of -49.48% since its inception on September 16, 2020 [1][2]. - Other funds managed by Zheng Chengran, such as GF Chengxiang Mixed A/C and GF Xingcheng Mixed A/C, also reported declines between 10.04% and 8.42%, with cumulative returns exceeding 50% losses [1][2]. Group 2: Fund Management - Yao Xi has a background as a researcher at GF Futures and has been managing public funds since 2021 [1]. - Zheng Chengran, managing the GF High-end Manufacturing Stock C fund, has been in charge since the fund's establishment and has seen significant losses [1][2]. - Li Wei, managing the GF Manufacturing Selected Mixed A/C fund, reported an 8.4% decline in April, with experience managing public funds since 2011 [2].