"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 with a blend of firmness and gentleness. The current “her power” breaks this binary—being firm means upholding principles and bottom lines, while gentle signifies wisdom and guidance. Together, they forge an investment path that combines strength and warmth, reflected in net value curves and long-term value.

As fund assets expand and the number of fund managers grows daily, more women are safeguarding investors’ money. Their proportion in the industry is gradually increasing. According to the latest Wind data, there are 13,821 public funds managed by 4,152 fund managers, of whom 1,110 are women—who bring 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, and in fixed income, what you rely on is the most fundamental interest rate judgment—the price of capital, the starting point of financial assets. Small steps lead to great distances; success depends on accumulating tiny gains, each basis point at a time.

In recent years, we’ve realized that relying solely on a paddle limits us to nearshore waters. 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 ship to reach farther in favorable winds. From insurance funds to public funds, from back-end risk control to front-end trading, the paths we’ve traveled and cycles we’ve crossed have fostered respect for the market and understanding of multi-asset allocation. Focusing on only one asset class risks missing cycles; choosing relatively high-value assets at different times can smooth net value curves and provide investors with greater peace of mind.

Thus, our understanding of investment remains simple—no matter how diverse the promotion, nothing beats diligent responsibility for holders. Fixed income is rooted in the belief in coupon accumulation, and “Fixed Income Plus” adds a longing for broader horizons. Just as women contain strength within 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 investing, repeated reflection centers on—cycle positioning and the quality of business models. The former determines when to set out; the latter determines how far we can go.

Industry trends have their rhythm. Solid performance growth lays a strong foundation; valuation increases are market rewards. Some years, industries resonate with both performance and valuation rising—moments like gifts from the era, worth cherishing. Without such luck, stepping back to choose profitable, upward-moving companies is prudent. The goal is to capture undervalued opportunities within reasonable cost-performance ratios.

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

Previously, I used terminal thinking to evaluate companies 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 vigil. It requires maintaining a solid core during cold winds and daring to showcase innovation’s edge during the awakening of spring thunder.

With over ten years in the industry—from sell-side analyst to fund manager—I approach healthcare with reverence and caution. The portfolio adopts a “core + offensive” structure—core holdings are traditional Chinese medicine brands, time-tested and like nourishing remedies, offering stability amid volatility; the offensive side focuses on innovative drugs and medical devices, reflecting China’s ambition on the global stage.

Some say, healthcare is like a long slope covered in snow. The approach isn’t necessarily about sprinting but about steady persistence—upholding integrity without conservatism; innovating without recklessness.

Spring is blooming in March. I wish investors can both hold onto the passage of time and listen to the sound of flowers blooming.

Caitong Fund Guo Xin

Caitong Growth Quantitative Stock Selection Hybrid Fund Manager

Growth bears the mark of the era, illuminating 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. These companies represent the future of industrial upgrading amid China’s economic transformation.

Quantitative stock selection focuses on systematically identifying this growth. Using multi-factor models, evaluating financials, growth prospects, valuation, and market sentiment, each stock is comprehensively assessed. How profitable is it? How much room for growth? Is the valuation reasonable? What are market expectations? The model provides objective scores, removing emotional bias, and returning decision-making to fundamentals. Discipline is key—avoiding hot trends, refraining from subjective guesses, trusting only data and logic.

The essence of investment is finding relatively certain anchors amid uncertainty. In the context of economic transformation and emerging new productive forces, growth stocks hold long-term value. As the A-share market matures, systematic investing is increasingly understood and accepted. More products based on the CSI 300 Growth Index are emerging, offering diverse options for different investor preferences.

I look forward to walking with investors, continuing to capture the era’s growth systematically, and maintaining disciplined persistence through market fluctuations.

Caitong Fund Zhang Wanyu

Caitong Hengli Bond Fund Manager

Past experiences teach me: every decision must allow room for mistakes and have contingency plans. Respect for discipline and pre-set tolerance for errors are the confidence needed when sailing toward the stars and seas—raising the sail boldly while leaving space 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 reason helps us see both data and human nature.

Tracking the trajectory of economic cycles involves twists and turns, but I believe cycles will come, and the future is promising.

Time flies, grass grows, and orioles sing—what remains constant is our love for investing. During festivals, I wish investors to stay true to their original intentions and passions, for 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 and the cyclical prosperity in industries need to be carefully unraveled.

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 and prudence amid consensus are vital. 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 about constantly reminding ourselves to be more focused, patient, and close to the essence in different market environments.

Where the time is spent, the boundary exists. Simplify complex matters, repeat simple tasks diligently, and do repetitive work with care—answers may then emerge. In March, with spring in full bloom, I hope to walk with investors, carefully selecting bonds with meticulousness and facing market fluctuations with composure.

Caitong Fund Yao Yao

Caitong 63-Month Open-ended 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 the surface. 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. With declining yields, increased volatility, and information overload—each factor tests patience. The core of fixed income investment remains providing relatively predictable coupon income and flexible liquidity support. As long as this foundation remains, every day’s effort 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 or growth stories—only daily coupon accumulation and careful management of each basis point. But it’s precisely this dullness that forms the foundation of asset allocation. I wish to walk with investors, maintaining reverence for the market and a calm mind—aiming to accumulate coupons steadily and face cycles with composure.

Editor: Xu Nannan