"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 sticking to principles and bottom lines, gentleness is wise guidance. Together, they forge an investment path that balances impact and warmth between 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 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 Return Bond Fund Manager

Fixed income investing is like sailing at sea. To sail, 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. Progressing step by step requires accumulating small gains in basis points with each move.

In recent years, we’ve realized that relying on just one paddle keeps 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 “Fixed Income+” universe.

Bonds are the anchor, providing stability amid waves; equities are the sail, enabling the ship to go further in favorable winds. From risk assets to public funds, from back-end risk control to front-end trading, the paths we’ve taken 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 net value curves and provide investors with more stability.

Thus, the understanding of investment remains simple—no matter how diverse the promotion, it cannot replace diligent responsibility for holders. Fixed income investing is rooted in the belief in coupon accumulation, and “Fixed Income+” adds a longing for broader horizons. 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, one can both guard a territory and see the stars and seas ahead.

Caitong Fund Jia Yanan

Caitong Balanced Medium-Term Hybrid Fund Manager

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

Industry trends have their rhythm. Strong performance solidifies value, and rising valuations are market rewards. Some years, industries resonate with both performance and valuation—moments like gifts from the era, worth cherishing. If luck isn’t on your side, 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 price in secondary market emotional 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 Healthcare & Pharma Hybrid Fund Manager

Pharmaceutical investing is a long-term watch. It requires maintaining a solid core during cold winds and daring to showcase innovation during the awakening of spring thunder.

With over ten years in the industry—from sell-side analyst to fund manager—my understanding of pharma is always with reverence and caution. The portfolio adopts a “core + offensive” structure—core holdings are traditional Chinese medicine brands, time-tested and like a nourishing remedy, providing stability without immediate results; the offensive side focuses on innovative drugs and medical devices, reflecting China’s ambition on the global stage.

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

Spring in March is blooming. 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 bears the mark of the era, reflecting the direction of economic transformation.

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

The core of quantitative stock selection is systematically finding this growth. Using multi-factor models, evaluating each stock across 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, not making subjective guesses, trusting only data and logic.

The key to investing is finding relatively certain anchors amid uncertainty. As the macro economy transitions and emerging productive forces appear, growth stocks hold long-term value. The A-share market is maturing, and quantitative investing is increasingly understood and accepted. More products based on the CSI 300 Growth Index are emerging, offering both off-market funds and on-market trading options for different investor preferences.

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

Caitong Fund Zhang Wanyu

Caitong Hengli Bond Fund Manager

Past experiences teach me: every decision must allow room for mistakes and have backup plans. 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 reason helps see both data and human nature.

Tracking economic cycles is inevitably complex, but I believe cycles will come, and the future is promising.

Time flies, grass grows, and orioles sing—what remains constant 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 research is about finding answers in details. The true repayment ability behind financial statements, the cyclical changes in industry prosperity—all need careful analysis.

The essence of credit investing is risk pricing. The premise is penetrating narratives to see the true quality of underlying assets. Maintaining restraint amid noise, cautious in 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 never truly “gets easier.” It simply reminds us in different market environments to be more focused, patient, and close to the core.

Where time is spent, boundaries form. Simplify complex matters, repeat simple tasks diligently, and the answers may emerge. In March’s springtime, I hope to walk with investors, carefully selecting bonds with meticulousness and facing market fluctuations with composure.

Caitong Fund Yao Yao

Caitong Huahui 63-Month Fixed-Open Bond Fund Manager

Market volatility always exists, 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 shifts—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 tests patience. The core of fixed income remains providing predictable coupon returns and flexible liquidity. As long as this foundation stays, every day’s effort is meaningful. Currently, liquidity is balanced and slightly 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 swings, no growth stock imagination—only daily coupon accumulation and small basis point calculations. But this dullness 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 accumulation steadily while facing cycles with composure.

Editor: Xu Nannan