Core Insights - The performance of Jiang Jialiang, the Chief Equity Investment Officer at Puyin Ansheng Fund, has been disappointing, with five out of six managed products showing negative returns, some with declines exceeding 50% [1][2] Group 1: Performance Metrics - Jiang Jialiang's managed fund, Puyin Ansheng Quality Selected Mixed A, has a three-year return of -52.87%, the worst among the company's equity fund managers, while the average return for similar funds is -18.07% [2] - Other funds managed by Jiang also underperformed, with Puyin Ansheng Yingyao Selected One-Year Holding Mixed A showing a return of -37.17% compared to -8.56% for peers, and Puyin Ansheng Balanced Selected Six-Month Holding Mixed A at -25.37% against -14.96% for similar funds [2] - The only fund with a positive return under Jiang's management is Puyin Ansheng New Economic Structure Mixed A, which has a six-year return of 103.27%, although its C share has a three-year return of -50.74% [2] Group 2: Management Fees and Fund Size - Despite poor performance, the funds continue to charge significant management fees, with Puyin Ansheng Quality Selected Mixed A/C collecting a total of 10.16 million yuan in management fees for 2024, while fees for 2022 and 2023 were approximately 35 million yuan and 20 million yuan, respectively [3] - As of the first quarter of 2025, Puyin Ansheng Fund's public asset management scale reached 356.21 billion yuan, ranking 28th among around 200 institutions, but several products face liquidation pressure due to low asset sizes [3]