Core Viewpoint - Recent changes in fund managers at GF Fund highlight a shift towards a collaborative management model, reflecting ongoing trends in the industry to optimize fund performance and adapt to market volatility [2][6][7]. Group 1: Fund Manager Changes - GF Fund announced the departure of fund manager Jiang Ke from GF Rui Jie Select, with Chen Yanzhong taking over; other funds transitioned from single management to co-management [2][3]. - A total of 64 new fund managers have been hired in the past year, with 13 fund managers leaving, representing nearly 20% of the total funds managed by GF Fund [2][6]. - The trend of increasing co-management is evident, with several funds now managed by teams rather than individual managers [3][6]. Group 2: Fund Performance - Three of the four funds involved in the recent changes have recorded losses exceeding 30% compared to their performance benchmarks over the past three years [2][4]. - Specifically, GF Cheng Xiang Mixed and GF Xing Cheng Mixed have seen cumulative returns of approximately -36% and -37%, respectively, underperforming their benchmarks by about 63 and 65 percentage points [4][5]. - The newly appointed managers have significant experience, with annualized returns varying among them, indicating a potential for improved performance moving forward [3][5]. Group 3: Industry Trends - The shift towards a platform-based research and investment strategy is becoming a common practice in the industry, moving away from the reliance on star fund managers [6][7]. - The recent changes at GF Fund are part of a broader trend in the industry, where firms are adapting to new regulatory environments and market conditions by enhancing collaborative investment strategies [7][8].

Core Viewpoint - Recently, GF Fund announced the appointment of new fund managers Ye Shuai and Guan Fuqin for the GF Chengxiang Mixed Fund, indicating a strategic move to enhance the fund's management team [1][2]. Group 1: Fund Manager Background - Ye Shuai joined GF Fund in December 2016 and has held positions as a researcher and investment manager in the Index Investment Department [1]. - Guan Fuqin worked as an analyst in the home appliance industry at Guangzhou Securities from June 2011 to June 2012, and later as a computer industry analyst at CITIC Securities from June 2012 to April 2015 before joining GF Fund in April 2015 [1]. Group 2: Fund Performance - The GF Chengxiang Mixed Fund A/C was established on February 8, 2021, and as of September 30, 2025, it reported a year-to-date return of 16.09% and 15.74% [1]. - Since its inception, the fund has recorded a return of -47.41% and -48.38%, with cumulative net values of 0.5259 yuan and 0.5162 yuan for the respective classes [1].