Core Viewpoint - The article discusses the importance of position control in mutual funds, highlighting how certain fund managers successfully navigate market fluctuations through strategic adjustments in their equity allocations. Group 1: Fund Performance and Strategy - The Yimin Service Leading Fund demonstrated excellent management by adjusting its stock position from 0.89% at the end of last year to over 90% by the end of the second quarter, indicating a strong response to market conditions [1] - The fund manager noted a significant increase in equity assets after the market correction on April 7, with a focus on small and mid-cap growth stocks, while maintaining a balanced portfolio without heavy bias towards any single sector [2] - The Yongyin Ruiheng Fund, established in December last year, increased its stock position from approximately 18% to about 70% by the end of the second quarter, achieving a gain of over 14% during this period [2] Group 2: Position Control Mechanisms - The Agricultural Bank of China Huiri Interval Return Mixed Fund incorporates position control into its fund contract, adjusting stock allocations based on the Shanghai Composite Index thresholds to lock in profits and manage risks [3] - The fund's strategy allows for a stock allocation of over 95% when the index is below 2750 points, and a gradual reduction in stock positions as the index rises, demonstrating a disciplined approach to asset allocation [3] Group 3: Insights from Industry Professionals - Industry experts emphasize that effective position control is an art of dynamic balance, aligning with the fund's strategy, market judgment, and risk tolerance to achieve sustainable returns without significant losses [4] - Fund managers are advised to manage market volatility through position control and stock adjustments within the constraints of their fund contracts, which can limit their ability to shift strategies in response to market changes [5]

Core Viewpoint - The labor dispute between Yimin Fund and its former HR manager highlights the survival challenges faced by small public funds under the salary cap policy, as well as the significant impact of personnel management compliance on companies [1][3]. Summary by Sections Labor Dispute Details - Yimin Fund adjusted the position of its HR manager Zhao from HR General Manager to Administrative Manager, resulting in a 43.68% salary reduction, which exceeded the policy's requirement of 10% [1]. - Zhao, who had worked at the fund for approximately 11 years, was dismissed on the grounds of "refusal to comply with reasonable job adjustment" after multiple unsuccessful communications [1][6]. - The court ruled that Yimin Fund must pay Zhao a total of 947,000 yuan for unlawful termination and 66,300 yuan for unused annual leave, totaling over 1 million yuan [1][2]. Financial Context - Yimin Fund, established in 2005, saw its management scale shrink from 3.851 billion yuan in 2015 to 822 million yuan in the first quarter of 2025, with its industry ranking dropping to 175 [3]. - The fund's representative product, Yimin Quality Upgrade, had a total scale of 4.7 million yuan, achieving a profit of 50.17% over the past year and an annualized return of 45.68% [3]. Implications for the Industry - The dispute reflects the deep-seated contradictions between salary cap policies and compliance in labor management within the financial sector [1][3]. - Companies are encouraged to restructure performance and optimize benefits for salary adjustments rather than resorting to drastic measures like demotion and salary cuts [3]. - For established institutions like Yimin Fund, internalizing compliance and fostering team stability is crucial for regaining competitiveness in the public fund industry [3].