"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—being firm means adhering to principles and bottom lines, while softness 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 increases daily, more women are safeguarding investors’ money. Their proportion in the industry is gradually rising. 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 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; 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 depends on accumulating tiny gains, each basis point at a time.

In recent years, we’ve realized that relying on just one 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 go further in favorable winds. From insurance funds to public funds, from backend risk control to front-end trading, the paths traveled over the years—through cycles—have fostered both reverence for the market and understanding of multi-asset allocation. Focusing solely on one asset class risks cycles of underperformance; choosing relatively high-value assets at different times can smooth net value curves and provide investors with greater peace of mind.

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

With an anchor in the heart and a sail in hand, one can both guard a 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 on—cycle positioning, business model quality—determines when to set out and how far one can go.

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

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

Previously, I used terminal thinking to evaluate companies in primary markets; now, I learn to gauge pricing amid secondary market fluctuations. 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 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 + offensive” structure—selecting traditional Chinese medicine for the core, those time-tested brands like nourishing remedies that don’t seek quick results but provide stability amid volatility; and on the offensive side, innovative drugs and medical devices, reflecting China’s ambition on the global stage.

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

Spring in March is blooming; all things flourish. I wish investors can both hold onto the passage of time and listen for the sound of blossoms opening.

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. These companies represent the future of industrial upgrading amid China’s economic transformation.

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 bias, 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. As the A-share market matures, systematic investing is increasingly understood and accepted. Product innovations around the CSI 300 Growth Index are growing, offering more choices 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 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 and seas—raising the sail boldly while leaving room to return.

I believe that investing requires rational analysis frameworks, but keen 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 understand the trajectory of economic cycles inevitably involve twists and turns before reaching consensus, but I believe that cycles 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: stay true to your 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 to penetrate all narratives and see the true quality of underlying assets. Maintain restraint amid noise, and prudence within consensus. Know what to trust, what to doubt; what to follow, what to judge independently. Every purchase confirms a degree of certainty—more than just the current price, it’s about the probability of future performance. In this sense, research never truly “gets easier.” It simply reminds us in different market environments to be more focused, patient, and close to the essence.

Where time is spent, boundaries form. 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 wish to walk with investors, carefully selecting each bond and calmly facing market ups and downs.

Caitong Fund Yao Yao

Caitong Huifu 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 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 yields declining, volatility increasing, and 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, maintaining reverence for the market and a peaceful mind—aiming to capture coupon income steadily and face cycle fluctuations with composure.

Editor: Xu Nannan