"Her Power" | Galaxy Fund's Shi Wenqi: Upholding integrity and focusing on quality growth, embracing the new consumption cycle with a long-term perspective

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 flexibility. The current “her power” breaks this binary—firmness means sticking to principles and bottom lines, while flexibility signifies wisdom and guidance. Together, they forge an investment path that balances intensity and warmth between net value curves and long-term value.

“In sectors with strong growth prospects, I select companies with core competitiveness and barriers, hoping that the performance growth of high-quality holdings will bring returns to the portfolio,” summarized Shi Wenqi of Galaxy Fund.

Galaxy Fund Stock Investment Department Fund Manager Shi Wenqi

With nine years of experience in securities and three years managing public funds, Shi Wenqi joined Galaxy Fund Management Co., Ltd. Research Department in February 2016 and is now a fund manager in the stock investment department. Since July 2022, she has served as the fund manager of the Galaxy Modern Service Theme Flexible Allocation Mixed Securities Investment Fund. From March 2023, she has been the fund manager of the Galaxy Growth Select One-Year Holding Period Mixed Securities Investment Fund.

If I had to describe her investment style in one word, it would be “conservative.” She relies on solid fundamental research, maintains a keen sense of industry trends, and continuously compares the performance and valuation of targets dynamically. Focusing on core industry trends, she ultimately selects stocks that do not depend on market style or capital preferences but can traverse cycles through their own performance growth.

She believes that women, as the main consumer group, are inherently more perceptive of consumption trends. Female investment research may be more meticulous in marginal changes and earnings forecast revisions, and women tend to invest with patience over the long term.

In long-term investing, stock prices are highly correlated with corporate earnings growth. Long-termism can mitigate short-term valuation fluctuations and share in corporate growth dividends. Risk control is a key premise of portfolio management—prioritizing valuation safety margins before considering upside potential, favoring targets that are both offensive and defensive.

“The core of navigating cycles is controlling drawdowns during poor market performance and amplifying flexibility during strong markets. Avoid chasing hot topics or being swayed by emotions. Strive to do your best within your framework and capabilities,” said Shi Wenqi of Galaxy Fund.

Shi Wenqi points out that by 2026, she is optimistic about the resonance and recovery of mass consumption and service consumption. Mass consumption, driven by necessity and high cost-performance, sees high-dividend targets like food and beverages as valuable allocations; service consumption is rebounding significantly, with tourism and hotel bookings during the Spring Festival holiday increasing sharply. Consumption has shifted from material satisfaction to emotional value and cost-effectiveness, but risks such as weaker-than-expected recovery and industry price wars should be watched.

Regarding AI and quantitative methods, she views them as tools to improve research efficiency, not as changes to the fundamental deep-investment framework. AI enhances data processing, while quantification amplifies short-term market volatility, which can create opportunities for mispricing and overestimation-based positioning—testing valuation judgment and resolve.

In team management, she relies on diverse mechanisms such as morning meetings, thematic discussions, and cross-review sessions to ensure efficient information flow; analysts frequently track heavy holdings and promptly feedback market changes; the consumer sector team engages in cross-industry exchanges to uncover common logic, enabling quick adaptation to market shifts.

Looking ahead, she hopes that both investment and life will be “grounded and illuminated,” maintaining enthusiasm and curiosity to build long-term high-quality funds. She expresses gratitude to investors: “Thank you for your trust and support. I will continue to focus on industry logic and select high-quality stocks to deliver steady performance and repay your confidence.”

Editor: Xu Nannan, Xu Nan

(Edited by: Xu Nannan)

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