Core Viewpoint - The departure of Bao Wuke, a prominent fund manager at Invesco Great Wall Fund Management, raises questions about the future performance of the funds he managed and the potential for the emergence of new star fund managers within the company [2][3][5]. Group 1: Fund Manager Departure - Bao Wuke resigned from all products managed at Invesco Great Wall, confirming market speculations from April 2023 [2][5]. - His managed products achieved an annualized return of 15.29%, with notable performance over the past two and three years at 15.54% and 42.12%, respectively [2][3]. - The company has seen a peak fund size of 615.15 billion yuan, although it experienced a decline in 2022 and 2023 before recovering in 2024 [2][18]. Group 2: Fund Performance and Management Transition - Following Bao's departure, the company appointed four experienced fund managers to take over his products, all of whom have over 15 years of investment experience [12][17]. - The funds managed by Bao Wuke have seen a significant decline in size, dropping from a peak of 271.86 billion yuan to 162.07 billion yuan, a decrease of 40.38% [9][10]. - The new fund managers include Liu Su, Zhang Zhongwei, Zou Lihu, and Wang Yong, each with distinct investment styles and backgrounds [14][15][17]. Group 3: Market Context and Future Outlook - The overall equity market has faced a downturn, impacting the performance of Invesco Great Wall's equity funds, which have seen substantial losses [2][21]. - The company aims to stabilize investor confidence through effective communication and by ensuring continuity in investment strategies during the transition to new fund managers [8][9]. - The future performance of the funds will depend on the new managers' ability to maintain or improve upon the previous performance levels established by Bao Wuke [7][12].