Group 1 - The core point of the news is the resignation of Bao Wuke, a prominent fund manager at Invesco Great Wall Fund, due to personal reasons, effective May 16, 2025 [2][4] - Bao Wuke managed a total of 8 funds with an aggregate scale of 16.207 billion, with five of them achieving an annualized return exceeding 10% [4] - The resignation follows a trend in the industry where 138 fund managers have left their positions this year, marking a 22% increase compared to the same period last year [7] Group 2 - Invesco Great Wall Fund has appointed new fund managers for the 8 funds managed by Bao Wuke prior to his resignation, indicating a proactive approach to management continuity [2][6] - The industry is experiencing high turnover, with 213 new fund managers appointed this year, reflecting a dynamic and competitive environment [7] - The departure of Bao Wuke and other notable fund managers may be influenced by performance pressures, internal company factors, and the competitive landscape of the fund management industry [9]

Core Viewpoints - The article summarizes the insights from fund managers based on their Q1 2025 reports, focusing on their investment strategies and market outlooks [1]. Group 1: Fund Manager Perspectives - Fund managers typically cover two main areas in their reports: a review of past investments and future market outlooks, with the latter being more significant [3]. - Different fund managers exhibit varying levels of detail in their reports, influenced by their investment styles, such as value or growth [3]. - The deep value style emphasizes low valuations and high dividend yields, primarily investing in sectors like finance, real estate, and energy [4][5]. - Growth value style focuses on companies with strong profitability and cash flow, often holding stocks for the long term [10]. Group 2: Deep Value Style Insights - Deep value style has shown strong performance from 2021 to 2024, while it underperformed in 2019-2020 [6]. - Fund managers express confidence in their holdings despite market uncertainties, citing factors like geopolitical changes and technological advancements as influential [7]. - The current market environment is characterized by structural changes, with some sectors facing prolonged competition, while others show clear competitive advantages [7]. Group 3: Growth Value Style Insights - Growth value managers highlight the resilience of high-frequency economic data and improved financing conditions, suggesting a positive outlook for the second quarter [12]. - They emphasize the importance of focusing on domestic economic transformation and internal demand rather than external pressures [12][13]. - Fund managers are adjusting their portfolios to capitalize on sectors like AI and healthcare, anticipating a shift in consumer behavior and market dynamics [15][16]. Group 4: Balanced Style Insights - The balanced style seeks to combine growth potential with valuation, often looking for stocks that offer good value relative to their growth prospects [26]. - Fund managers maintain a diversified approach, focusing on sectors with favorable valuations and growth potential, such as healthcare and technology [29][30]. - They express optimism about domestic consumption policies and liquidity, which may support market performance despite external uncertainties [30]. Group 5: Growth Style Insights - The growth style prioritizes companies with high revenue and profit growth, often accepting higher valuations for strong growth potential [39][40]. - Fund managers are actively seeking opportunities in emerging industries, such as renewable energy and technology, which are expected to drive future growth [41].

红星资本局5月17日消息，今日，景顺长城基金连发8则公告，鲍无可卸任了包括景顺长城能源基建在内的8只基金，因个人原因辞职。 红星资本局注意到，鲍无可是市场少有的公募投资管理年限超过10年且平均年化回报率超10%的"双十"基金经理。他于2009年12月加入景顺长城基金，历任 研究部研究员、高级研究员，自2014年6月起担任股票投资部基金经理，此前担任股票投资部执行总监、基金经理。 从公告看，鲍无可离职后，接管其产品的四位基金经理均是从业经验超过15年的老将。 高年化同时保持低回撤 曾表示"天生厌恶亏钱" 鲍无可 截图自景顺长城官方账号 百亿基金经理鲍无可离职早有预兆。4月12日、26日，鲍无可管理的产品分两次增聘了基金经理，这些产品由刘苏、邹立虎、张仲维、王勇分别接任。产品 短期内密集增聘，就引发了投资者对鲍无可职位可能变动的讨论。 | 离任基金经理姓名 | 鲍无可 | | --- | --- | | 离任原因 | 个人原因辞职 | | 离任日期 | 2025年5月16日 | | 转任本公司其他工作岗位 | 否 | | 的说明 | | | 是否已按规定在中国基金 业协会办理注销手续 | 是 | wind数据显示 ...