Core Insights - The best-performing fund managed by Sheng Fengyan is the Western Gain CSI 500 Index Enhanced (LOF) Y, with a quarterly net value increase of 21.42% as of Q3 2025 [1] Fund Performance Summary - Sheng Fengyan manages a total of 7 funds, with the following performance metrics: - Western Gain CSI 500 Index Enhanced (LOF) Y: 14.00 billion, annualized return of 2.87%, quarterly increase of 21.23% [2] - Western Gain CSI 500 Index Enhanced (LOF) C: 3.88 billion, annualized return of 14.06%, quarterly increase of 21.10% [2] - Western Gain State-Owned Enterprise Dividend Index Enhanced C: 3.53 billion, annualized return of 12.07%, quarterly increase of 2.98% [2] - Western Gain Central Enterprise Preferred Stock C: 1.39 billion, annualized return of 25.71%, quarterly increase of 5.72% [2] - Western Gain Central Enterprise Preferred Stock A: 0.79 billion, annualized return of 26.22%, quarterly increase of 5.83% [2] - Western Gain State-Owned Enterprise Dividend LOF: 2.97 billion, annualized return of 12.96%, quarterly increase of 3.05% [2] Investment Strategy and Stock Performance - During his tenure managing the Western Gain CSI 500 Index Enhanced (LOF) A fund, Sheng Fengyan achieved a cumulative return of 113.43% with an average annualized return of 8.86% [2] - The fund had 249 stock adjustments, with a win rate of 61.85% and 4 instances of doubling returns [2] Notable Stock Adjustments - Significant stock adjustments include: - Ecovacs (科沃斯): Purchased in Q4 2020, sold in Q1 2021, with an estimated return of 173.50% and a company performance growth of 213.51% [3][5] - HIKVISION (海康威视): Purchased in Q3 2021, sold in Q3 2024, with an estimated return of -44.64% despite a company performance growth of 13.60% [4][6] - Tian Nai Technology (天奈科技): Purchased in Q2 2021, sold in Q3 2021, with an estimated return of 98.35% and a company performance growth of 179.68% [3][6]