Core Viewpoint - The newly launched E Fund Balanced Select (025920) introduces a novel floating management fee model linked to the holding period and annualized return performance, aiming to help investors navigate market volatility through balanced investment strategies [1]. Group 1: Fund Structure and Fee Model - The fund employs a floating fee structure based on the holding period and annualized return, with three different management fee rates depending on performance: 1.5% per year for annualized returns exceeding the benchmark by over 6%, 0.6% per year for returns lagging the benchmark by 3% or more, and 1.2% per year for other scenarios [1]. - This differentiated fee structure allows investors to experience a "pay more for more earnings, pay less for less earnings" approach, fostering a shared interest between fund managers and investors [1]. Group 2: Fund Manager Profile - The proposed fund manager, Yang Jiawen, has 14 years of experience in the securities industry, with 8 years in investment, known for a balanced style and contrarian strategies [2]. - Yang manages four active equity funds, with top ten holdings concentrated between 30%-50%, indicating a broad industry coverage and balanced stock allocation [2]. - Historical performance shows that all four funds under Yang's management have outperformed their respective benchmarks, with the longest-managed fund, E Fund Keri, achieving a net value growth rate of 117.20% since December 2017, significantly surpassing the benchmark's 22.47% return [2]. Group 3: Investment Strategy - The fund will focus on balancing corporate value and growth potential, selecting high-quality targets while controlling risks to pursue sustainable excess returns [2].

Core Viewpoint - The launch of the new floating fee rate fund, E Fund Balanced Select (025920), introduces a management fee model linked to the holding period and annualized return, aiming to enhance investor experience and promote long-term investment [1][2]. Group 1: Fund Structure and Fee Model - E Fund Balanced Select (025920) employs a unique floating management fee structure based on the holding period and annualized return, with three different fee rates depending on performance relative to a benchmark [1]. - If the holding period exceeds one year and the annualized return exceeds the benchmark by more than 6%, the management fee is set at 1.5% per year; if the return lags the benchmark by 3% or more, the fee drops to 0.6% per year; in other scenarios, the fee is 1.2% per year [1]. Group 2: Fund Manager Profile - The fund manager, Yang Jiawen, has 14 years of experience in the securities industry, with 8 years specifically in investment, known for a balanced style and contrarian strategy [2]. - Yang manages four active equity funds, with a low concentration in top holdings (30%-50%), indicating a broad industry coverage and balanced stock allocation [2]. Group 3: Historical Performance - Historical performance of Yang's managed funds shows consistent outperformance against benchmarks, with E Fund Keri achieving a net value growth rate of 117.20% since December 2017, significantly exceeding the benchmark return of 22.47% [2]. - The annualized return for E Fund Keri is reported at 10.16%, with an annualized volatility of 16.73%, indicating a stable risk-return profile [2][3]. Group 4: Investment Strategy - The fund will focus on balancing corporate value and growth potential, selecting high-quality targets while managing risks to pursue sustainable excess returns [2].

Core Viewpoint - The article discusses the launch of a new floating fee rate fund, E Fund Balanced Selection (025920), which links management fees to the holding period and annualized return of the investment, aiming to encourage long-term investment and align interests between fund managers and investors [2]. Group 1: Fund Structure and Management - E Fund Balanced Selection (025920) adopts a unique floating management fee model based on the holding period and annualized return, with three different fee rates depending on performance [2][4]. - The fund manager, Yang Jiawen, has 14 years of experience in the securities industry, with 8 years focused on investment, emphasizing a balanced investment style and contrarian strategies [2]. Group 2: Performance and Strategy - Yang Jiawen currently manages four actively managed equity funds, which have a low concentration in top holdings (30%-50%) and a balanced allocation across various sectors [3]. - Historical performance shows that these funds have outperformed their benchmarks, with E Fund Kery's net value growth rate reaching 117.20% since December 2017, significantly exceeding the benchmark's 22.47% return [3]. - The fund will focus on balancing corporate value and growth potential, selecting high-quality targets to pursue sustainable excess returns while managing risks [3].