21世纪经济报道记者杨娜娜 上海报道 睿远基金陈光明旗下专户产品11月起"封盘"。 21世纪经济报道记者获悉，自10月中旬起，多家销售渠道陆续通知，睿远基金陈光明旗下的睿远洞见价 值系列专户产品，自11月起暂停新老客户申购。未来何时恢复开放，另待基金管理人通知。 也有部分渠道告诉21世纪经济报道记者，截至11月1日时自家还未收到封盘"通知，近两年该系列产品一 直在严控规模，份额增加仅开放给老客户，不接受新客户申购。 早在10月29日，由杨东执掌的宁泉资产也宣布了对新客户关闭申购之门。之后富国基金、永赢基金等公 募基金旗下多只业绩亮眼的产品亦纷纷公告限购。 但业内人士也提醒，封盘并不等于管理人看空市场，更可能是因为产品规模增长过快，需要"减负"，以 维持策略的有效性。今年7月，陈光明还在与霍华德·马克斯的对话中，再次表达了对中国企业创新能力 和中国长期经济竞争力的信心。 从王牌研究员到价值投资标杆：陈光明的行业征程 陈光明深耕中国资本市场已超25年，在资管行业拥有较大的号召力，被视为价值投资理念在中国本土化 践行的标志性人物，一举一动备受关注。 1999年硕士从上海交大工程热物理专业毕业前，他就已经参与筹建东方 ...

Group 1 - The core viewpoint of the articles highlights the clear investment strategies of fund managers in a volatile market, focusing on long-term value assets in sectors like AI, pharmaceuticals, and high-end manufacturing [1][2][5] - The mid-year reports reveal a complete picture of fund holdings, showcasing "invisible heavyweights" that reflect fund managers' long-term preferences, with significant investments in technology and blue-chip companies [2][4] - Internal employee purchases of funds signal confidence in their own products, with notable increases in holdings across several high-performing funds, indicating a positive market sentiment [4] Group 2 - Fund managers are shifting their focus from market sentiment to corporate fundamentals, with a consensus on the high cost-performance ratio of equity assets, particularly in sectors with high growth potential like pharmaceuticals and new energy [5][6] - Emphasis on safety margins and reliable cash flow predictions is crucial for reducing investment errors, with a belief that both traditional and emerging industries offer good investment opportunities [6]

Core Viewpoint - The departure of several star fund managers has prompted the industry to reflect on its reliance on individual reputations, signaling a shift from a "star era" to a "platform era" in public funds [1][7][14]. Group 1: Impact of Departures - The exit of key fund managers like Qiu Dongrong has led to significant scale fluctuations and performance challenges for their respective firms, highlighting the risks of depending on individual managers [1][3]. - After Qiu Dongrong's departure, the total assets under management at Zhonggeng Fund dropped from 189.72 billion to 116.07 billion, a year-on-year decrease of 38.82% [4]. - Other firms, such as Yuanxin Yongfeng Fund, also experienced a decline in total scale after the departure of manager Fan Yan, with a reduction from 356 billion to 323.81 billion [5]. Group 2: Industry Reflection and Changes - The industry is recognizing the need to rebuild trust in research teams and platforms rather than relying solely on star managers, as evidenced by the shift in investor sentiment [1][7]. - A trend towards team-based management is emerging, with firms increasingly hiring multiple managers for funds to ensure continuity and stability [9][10]. - The number of funds announcing the hiring of additional managers has surged, with 267 announcements made this year alone [10]. Group 3: Regulatory and Strategic Shifts - Regulatory bodies have long been concerned about the "star phenomenon" in public funds, advocating for a transition to a more team-oriented and platform-based investment approach [13][14]. - The industry is moving towards a "platform era," where the focus is on collective team performance rather than individual star managers, as seen in the strategies of firms like Zhonggeng and Zhongou [16]. - The emphasis on team capabilities and a comprehensive investment research framework is becoming a priority for firms, aligning with regulatory expectations [12][16].