"Her Strength" | Jin Ying Fund Fixed Income Department General Manager Long Yuefang — Upholding Integrity and Steadfastness, Steadily Moving Forward

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

“Steering the ship with absolute returns as the anchor, avoiding unnecessary risks, making rigorous decisions and balanced allocations to keep the portfolio steady through market cycles,” summarized Long Yuefang, General Manager and Fund Manager of the Fixed Income Department at Golden Eagle Fund.

Long Yuefang has over 15 years of experience, with more than 8 years in public fund investment management, specializing in fixed income. She focuses on managing pure bonds, short- and medium-term bonds, and stable fixed income+ products. She adheres to the investment philosophy of respecting the market, maintaining integrity, strictly controlling risks, and steadily increasing value.

Having worked in fixed income for many years, she specializes in managing net-value stable products like pure bonds, short- and medium-term bonds, and stable fixed income+. She consistently upholds the principles of respecting the market, integrity, risk control, and steady growth, leveraging solid research capabilities to generate sustainable, stable returns for investors.

Regarding her investment advantages and style, Long Yuefang states that her expertise in macro analysis, credit research, and trading practice allows her to accurately grasp interest rate cycles and credit risks. She is skilled at maintaining income and controlling drawdowns amid market volatility. Her investment style is anchored in absolute returns, avoiding unnecessary risks, and steering the portfolio with rigorous decision-making and balanced allocation through market cycles.

As a female researcher and investor, she believes women naturally possess patience, meticulousness, empathy, strong risk control awareness, and long-term orientation—traits that help her succeed in slow and steady strategies. She emphasizes that long-term investment is the core principle of the bond market, where returns come from time and compound interest. Only by adhering to the long-term can short-term fluctuations be minimized, and certainty in returns be achieved.

Her years of management experience have deepened her understanding of the importance of risk control as the lifeline. In her portfolio management system, risk control is prioritized—focusing first on risk management before seeking returns. All strategies are based on avoiding systemic risks and large drawdowns.

“Facing market fluctuations and investment pressures, I insist on reviewing patterns, returning to fundamentals, and maintaining a steady investment rhythm. Using professionalism and resolve, I counteract emotional swings. In serving clients, I focus on steady net value, transparent operations, and ongoing communication, helping investors hold confidently through cycles with predictable returns and manageable drawdowns,” she says.

Regarding the bond market in 2026, Long Yuefang offers her core view: the market is likely to be volatile, with coupon income reigning supreme, and opportunities arising from banded yield enhancements. She aims to grasp structural opportunities within certainty. Concerning the two main risks—interest rate and credit—she proposes clear avoidance strategies: for interest rate risk, flexible duration adjustments, using short- to medium-term positions as the core, and employing a barbell strategy to balance liquidity and yield; for credit risk, prioritizing high-grade assets, conducting comprehensive credit research, avoiding blindly lowering credit quality, and dynamically monitoring early warnings and preemptive risk mitigation.

In bond fund management, Long Yuefang has established a closed-loop decision-making process: macro → industry → individual bonds → portfolio → position sizing → risk control. She first assesses macro interest rate and liquidity trends, then selects quality industries and sectors, conducts in-depth credit research, constructs a diversified and balanced portfolio, and dynamically adjusts positions and durations—all while strictly adhering to risk thresholds. The key to balancing yield and safety is to build a safety net with high-grade, highly liquid assets, and to explore coupon and trading opportunities within controlled risk parameters.

Message:

Continuing to deepen fixed income expertise and refining skills, I aim to deliver more stable performance and a responsible attitude, becoming a trustworthy and steady manager.

To investors: Thank you for your trust and companionship. I will always prioritize principal safety and long-term returns, focusing on stability and steady progress, journeying with you toward long-term value.

Text / Xu Nannan Editing / Xu Nan