"Her Strength" | Guiding with professionalism and steering with初心—Caitong Fund Women's Team Investment Motto

In traditional understanding, strength is often associated with rigidity and sharpness, but the capital markets are never short of edge. Female fund managers are redefining professional strength by combining firmness and gentleness. The current “her power” breaks this binary—firmness means adhering to principles and bottom lines, gentleness signifies wisdom and guidance. Together, they forge an investment path that balances strength and warmth between net value curves and long-term value.

As fund assets expand and the number of fund managers grows daily, more and more female fund managers are safeguarding investors’ money. Their proportion in the industry is gradually increasing. According to latest Wind data, there are 13,821 public funds managed by 4,152 fund managers, of whom 1,110 are women. These women have more unique insights into investment.

Caitong Fund Luo Xiaoqian

Caitong Stable Yield Return Bond Fund Manager

Fixed income investing is like sailing at sea. To sail well, you need a paddle; in fixed income, what you rely on is the most basic interest rate judgment, the price of capital, the starting point of financial assets. Small steps lead to great distances. Success requires accumulating tiny gains, each basis point at a time.

In recent years, we’ve realized that relying on just one paddle can only keep us near the shore. When the interest rate center enters the “1 era,” and the old maps of low-risk financial management no longer point to new horizons, we need to raise another sail. This is the vast ocean of “Fixed Income Plus.”

Bonds are the anchor, providing stability amid waves; equities are the sail, enabling the boat to go further with the wind. From risk assets to public funds, from back-end risk control to front-end trading, the paths we’ve traveled and cycles we’ve crossed have ultimately fostered respect for the market and understanding of multi-asset allocation—focusing on only one asset class can lead to volatility; choosing relatively high-value assets at different times can smooth the net value curve and provide investors with more stability.

Therefore, the understanding of investment remains simple—no matter how diverse the promotion, it cannot replace diligent responsibility for holders. Fixed income investment is rooted in the accumulation of coupon income, and “Fixed Income Plus” adds a longing for broader horizons on this foundation. Just as women contain strength in gentleness, they dare to set sail and voyage far while seeking stability.

With an anchor in the heart and a sail in hand, we can both guard our territory and see the stars and seas ahead.

Caitong Fund Jia Yanan

Caitong Balanced One-Year Holding Period Hybrid Fund Manager

In investment, repeatedly pondering—where the cycle is, the quality of the business model—determines when to set out and how far it can go.

Industry trends have their own rhythm. Solid performance growth lays a value foundation; valuation increases are market rewards. Some years, industries resonate with both performance and valuation rising—moments like receiving gifts from the times, worth cherishing. If such luck isn’t present, step back and choose profitable companies with upward trajectories. The goal is to capture undervalued opportunities within a reasonable cost-performance range.

Business models are equally important because, during upward phases, good companies can go further. Those with clear foresight are worth more patience.

Previously, I used terminal thinking to evaluate enterprises in primary markets; now, amid secondary market fluctuations, I learn to gauge the rhythm of pricing. The key to investing is maintaining an evolving mindset to discover the “lucky ones” of each era.

Spring is in the air in March, all things reborn. I hope to walk with investors, continue to keenly capture the echoes of the times, and steer confidently toward distant mountains and seas.

Caitong Fund Luo Ying

Caitong Medical & Health Hybrid Fund Manager

Medical investment is a long-term watch. It requires maintaining a solid core during cold winds and daring to show innovative sharpness during the awakening of spring thunder.

With over ten years in the industry—from sell-side analyst to fund manager—my understanding of medicine is always filled with reverence and caution. The portfolio adopts a “core + offense” structure—core holdings are traditional Chinese medicine brands, time-tested and like nourishing remedies, not aiming for instant results but providing stability amid volatility; the offensive side focuses on innovative drugs and medical devices, reflecting China’s ambition on the global stage.

Some say, medicine is a long slope of thick snow. The approach isn’t necessarily sprinting but steady persistence—upholding integrity without conservatism; innovating without recklessness.

Spring is blooming in March. Wishing investors to both hold onto the passage of time and hear the sound of flowers blooming.

Caitong Fund Guo Xin

Caitong Growth Quantitative Stock Selection Hybrid Fund Manager

Growth is the mark of an era, reflecting the direction of economic transformation.

With positive changes in domestic macro policies, high-quality development has become the main theme, and new productive forces are quietly emerging. The CSI 300 Growth Index selects 100 stocks with outstanding growth from 300 constituents, distributed across leading industries, supported by innovation and protected by competitive moats. In China’s economic upgrading wave, these companies represent the future of industrial advancement.

The core of quantitative stock selection is systematically identifying this growth. Using multi-factor models, evaluating each stock from financials, growth prospects, valuation, and market sentiment. How profitable is it? How much room for growth? Is the valuation reasonable? What are market expectations? The model provides objective scores, removing emotional interference, returning decision-making to fundamentals. This process emphasizes discipline—avoiding hot trends, refraining from subjective guesses, trusting only data and logic.

The key to investing is finding relatively certain anchors amid uncertainty. As the macro economy transitions and new productive forces emerge, growth stocks hold long-term value. The A-share market is maturing, and systematic investing is increasingly understood and accepted. Product innovations around the CSI 300 Growth Index are growing, with both off-market funds and on-market products offering more choices for different investors.

I hope to walk with investors, continue capturing the era’s growth systematically, and stay disciplined through market fluctuations.

Caitong Fund Zhang Wanyu

Caitong Hengli Bond Fund Manager

Past experiences have taught me: every decision must be made with room for mistakes and prepared with remedies. Respect for discipline and pre-set tolerance for errors are the confidence needed when sailing toward the stars—raising the sail boldly while leaving room to return.

I believe that investing requires rational analysis frameworks, but market sentiment insights often come from emotional empathy. In bond market fluctuations, predicting investor panic can influence portfolio adjustments. Combining emotion and rationality allows us to see both data and human nature.

Efforts to trace the economic cycle’s trajectory inevitably involve twists and turns before reaching consensus, but I always believe that the cycle will come, and the future is promising.

Time flies, grass grows, and orioles sing—what remains unchanged is love for investing. During festivals, I wish investors to stay true to their original intentions and passions—every persistence leads to broader vistas.

Caitong Fund Yan Mengxuan

Caitong Multi-Interest Bond Fund Manager

Credit bond research is about finding answers in details. The true repayment ability behind financial statements, the cyclical changes in industry prosperity—all need to be carefully sorted out.

The essence of credit investing is risk pricing. The premise is penetrating all narratives to see the true quality of underlying assets. Maintaining restraint amid noise, exercising caution within consensus. Knowing what to trust, what to doubt; what to follow, what to judge independently. Every purchase confirms a degree of certainty—about current prices and future repayment probabilities. In this sense, research is never “easier.” It’s just a reminder in different market environments to be more focused, patient, and close to the essence.

Where the time is spent, the boundary is. Simplify complex matters, repeat simple ones diligently, and do repetitive tasks with care—answers may then emerge. In March, with spring in full bloom, I hope to walk with investors, carefully selecting each bond and calmly facing market ups and downs.

Caitong Fund Yao Yao

Caitong Yu Hui 63-Month Fixed-Open Bond Fund Manager

Market fluctuations are always present, regardless of the track or asset class. The bond market seems calm but is actually turbulent beneath. Fluctuations in interest rates, central bank operations, subtle policy changes—all influence daily decisions. Maintaining reverence for the market is instinctive in every trade and adjustment.

A good investment mindset may be the rarest skill of this era. Falling yields, increased volatility, information overload—each factor tests patience. The core of fixed income is providing relatively predictable coupon returns and flexible liquidity support. As long as this foundation remains, every day’s persistence is meaningful. Currently, liquidity is balanced and somewhat loose, with the central bank’s supportive stance, adopting a moderately flexible strategy to find relative certainty amid change.

Some say fixed income is dull. No dramatic equity rallies, no growth stock fantasies—only daily coupon accumulation and careful consideration of each basis point. But it’s precisely this dullness that forms the foundation of asset allocation. I wish to walk with investors, maintain reverence for the market, keep a calm mind, and aim to capture coupon income steadily while facing cycles with composure.