来源：六里投资报 在基金行业，"流星"常见，而"恒星"罕见。 能在20年牛熊变换的市场中，持续管理同一只产品并创造卓越回报的基金经理，堪称凤毛麟角。 Choice数据显示，管理一只基金时长近20年，年化回报超12%的，全市场仅有2位基金经理。 诺安基金的杨谷，正是其中之一。 如此惊人的长期复合收益，显然不是靠偶尔一两次的成功。 正如霍华德·马斯克所说，"把握市场时机非常困难，长期参与市场才是创造长线财富的方法。" 杨谷的投资生涯就是对"长期主义"最生动的诠释。 他不仅长期留在市场的"牌桌上"，更以超常的定力稳稳持有深思熟虑后的优质标的。 正逢基金2025年四季报披露，我们翻阅了杨谷所管基金的所有季报年报，在梳理持仓变化的基础上，勾 勒出了这位长期主义者的投资画像。 | 证券代码 | 证券名称 | 基金经理 | 任职日期 | 近1年 | 任职回报 | 任职年化 | | --- | --- | --- | --- | --- | --- | --- | | | | | | (%) | (%) | (%) | | 320003.OF | 诺安先锋混合A | 杨谷 | 2006-02-22 | 50.52 | 1,2 ...

Group 1 - The core point of the news is the management change at Noah Fund, with Vice President Yang Gu leaving his executive position to focus on investment work, and Assistant General Manager Liu Xiang being promoted to Vice President [1] - Yang Gu has served as Vice President and Fund Manager at Noah Fund for a total of 18 years, with a fund management tenure of 19 years and 63 days [1] - The total asset management scale of Noah Fund is currently 5.063 billion, with historical management scale remaining stable around 5 billion [1] Group 2 - Yang Gu's managed fund, Noah Pioneer Mixed Fund, has achieved a record return of 783.54% since its inception on February 22, 2006, outperforming the average return of similar funds at 637.18% [1] - Other products managed by Yang Gu, such as Noah Progress Return Mixed and Noah Selected Return Mixed, have also shown strong performance, with returns of 13.98% and 6.41% respectively, surpassing the average returns of similar funds [2] - As of the end of last year, Noah Fund's total management scale was 208.281 billion, ranking 35th among 200 public fund institutions [2]