A new fund, the GF Jiangxin Select Hybrid Fund (Class A: 027209; Class C: 027210), is now available for subscription through channels including China Construction Bank and GF Fund's direct sales platform from July 6th to July 24th. The fund will be managed by veteran portfolio manager Li Wei, who has over 20 years of experience. According to the fund's prospectus, it will allocate 60% to 95% of its assets to equities, with up to 50% of the equity portion invested in stocks eligible for the Hong Kong Stock Connect program.
Public information shows Li Wei is a seasoned investor with over 20 years in the securities industry and nearly 15 years of fund management experience. Data indicates that as of May 31st, there are only three actively managed equity funds in the entire market that have been established for more than 14 years, have delivered annualized returns exceeding 15%, and have been managed by their current fund manager since inception. One of these is the GF Manufacturing Select Fund, managed by Li Wei.
The GF Manufacturing Select Fund was launched on September 20, 2011, and has been managed by Li Wei since its inception. As of May 31, 2026, the fund's cumulative net asset value growth since establishment was 864.70%, representing a historical annualized return of over 16%. Its excess return over its benchmark during this period reached 617.97%. (Performance data has been verified by the custodian bank as of May 31, 2026. The above figures represent Class A share performance only. Past performance is not indicative of future results. The market involves risk, and investment requires caution.)
A review of the GF Manufacturing Select Fund's periodic reports over the past 14 years clearly reveals the characteristics of Li Wei's balanced growth style. The portfolio is primarily focused on sectors such as electronics, power equipment and new energy, machinery, defense and military industry, and non-ferrous metals. The allocation to any single sector typically does not exceed 20% of the portfolio. The fund also exhibits a long holding period. Across 54 quarters since inception, 14 of its top ten holdings have been held for more than 8 quarters, with the longest holding period reaching 45 quarters. This reflects a long-term, moderately balanced growth-oriented investment approach.
As of May 31st, Li Wei manages a total of seven public funds. Apart from the GF Manufacturing Select Fund and the GF GEM Board Two-Year Fixed Open Hybrid Fund, the other five are all all-market funds. Among these, the GF Manufacturing Select Fund and the GF Emerging Select Hybrid Fund, which he has managed for a longer duration, have delivered net value growth rates of 864.70% and 244.63%, respectively, during his tenure, both achieving significant excess returns over their respective benchmarks.
Table: Historical Performance of Funds Managed by Prospective Manager Li Wei
Note 1: Performance data has been verified by the custodian bank; ranking data is sourced from Galaxy Securities Fund Research Center, as of May 31, 2026. The above figures represent Class A share performance only. Please see the endnotes for details. Risk Warning: A fund's past performance does not predict its future results. The past performance of other funds managed by the same manager does not indicate the future performance of the new fund. Funds carry risks, and investment requires caution.
Discussing the management strategy for the new GF Jiangxin Select Fund, Li Wei stated that he will continue his balanced, flexible, and actively growth-oriented style. He will employ a refined "core decision-making—deep industry focus—quantitative support" tripartite team operation model that has been developed in recent years. This model is also a key feature distinguishing this fund from traditional actively managed equity funds.
"Currently, the number of listed companies exceeds 5,000, and the macroeconomic environment is shifting from a domestic real estate cycle to a new global macro paradigm. The challenges for purely subjective stock selection have significantly increased," Li Wei explained. He noted that his Balanced Strategy Department has proactively embraced quantitative technology over the past two years, building a sophisticated quantitative support system covering market trend analysis, style selection, sector allocation, and individual stock selection.
Regarding team collaboration, this model features clear division of labor. Li Wei is responsible for core decisions including portfolio positioning, sector allocation, style exposure, and stock selection. Two team members focus deeply on the technology manufacturing and broad consumer sectors, providing research support. Another team member leads the construction of the quantitative support system, generating quantitative insights on equity/bond allocation, style rotation, sector comparisons, and Smart Beta stock portfolios. These quantitative views are cross-checked with Li Wei's subjective judgment.
The team has already developed several practical models. For instance, for market trend analysis, an equity-bond allocation model provides positioning references. For style analysis, a value/growth rotation model based on macro and micro signals assists in judging style tendencies for the coming period. For sector allocation, the model compares the win rate and risk-reward ratio across 31 primary sectors, overweighting those with higher composite scores. For individual stock selection, a fundamental quantitative model provides a series of Smart Beta style-enhanced stock pools, such as low valuation/high dividend and high-growth surprise stocks, helping the fund manager improve stock-picking efficiency and portfolio sharpness.
"In recent years, the rotation between growth and value styles has been a crucial part of investment decision-making. A fund manager's subjective judgment can be difficult to keep objective and rational at all times and may be influenced by emotions at certain stages," Li Wei stated. He emphasized that the significance of quantitative tools is not to replace subjective decision-making but to set a scientific anchor point for timing, style judgment, and sector selection. This helps the fund manager overcome emotional biases, allowing them to focus more energy on their areas of expertise, such as analyzing industry trends and selecting individual stocks.
Note 1: Performance data has been verified by the custodian bank; ranking data is sourced from Galaxy Securities Fund Research Center, as of May 31, 2026. Li Wei manages seven funds. The GF Manufacturing Select Hybrid Fund was established on September 20, 2011. Its peer category is Galaxy Securities Fund Level-3 Classification: Hybrid Fund - Equity-biased Fund - Equity-biased Fund (Equity Range 60%-95%) (Class A). Its performance benchmark is: SWS Manufacturing Index × 80% + CSI Aggregate Bond Index × 20%. Past performance (vs. benchmark): 2021: 32.12% (18.95%); 2022: -16.73% (-21.57%); 2023: -24.19% (-2.50%); 2024: 1.66% (11.09%); 2025: 57.52% (37.24%). Data from fund periodic reports. Past fund managers (tenure dates): Yi Yangfang (Sep 20, 2011 - Feb 5, 2013), Li Wei (Sep 20, 2011 - present). The GF Emerging Industry Select Hybrid Fund was established on January 29, 2016. Its 10-year peer ranking: 39/160. Peer category: Galaxy Securities Fund Level-3 Classification: Hybrid Fund - Flexible Allocation Fund - Flexible Allocation Fund (Benchmark Equity Ratio 60%-100%) (Class A). Benchmark: CSI 800 Index Return × 65% + CSI Aggregate Bond Index Return × 35%. Past performance (vs. benchmark): 2021: 16.56% (1.76%); 2022: -16.21% (-13.00%); 2023: -23.97% (-5.01%); 2024: -3.76% (11.65%); 2025: 42.30% (13.71%). Data from fund periodic reports. Past managers: Wang Xiaosong (Jan 29, 2016 - Jun 26, 2019), Li Wei (Jan 29, 2016 - present). The GF GEM Board Two-Year Fixed Open Hybrid Fund was established on September 24, 2020. Benchmark: ChiNext Index Return × 80% + ChinaBond Composite Wealth (Total Value) Index Return × 20%. Past performance (vs. benchmark): 2021: 24.61% (11.25%); 2022: -21.56% (-23.32%); 2023: -23.35% (-14.85%); 2024: 3.15% (13.39%); 2025: 58.57% (39.16%). Data from fund periodic reports. Past manager: Li Wei (Sep 24, 2020 - present). The GF Juhong Six-Month Holding Period Hybrid Fund was established on February 8, 2021. Benchmark: CSI 800 Index Return × 65% + HKD-denominated Hang Seng Index Return × 10% + CSI Aggregate Bond Index Return × 25%. Past performance (vs. benchmark): Feb 8, 2021 - Dec 31, 2021: 4.69% (-3.55%); 2022: -14.86% (-13.86%); 2023: -25.49% (-6.68%); 2024: -4.79% (12.82%); 2025: 35.93% (16.26%). Data from fund periodic reports. Past manager: Li Wei (Feb 8, 2021 - present). The GF Ruisheng Hybrid Fund was established on January 27, 2022. Benchmark: CSI 800 Index Return × 65% + HKD-denominated Hang Seng Index Return × 10% + CSI Aggregate Bond Index Return × 25%. Past performance (vs. benchmark): Jan 27, 2022 - Dec 31, 2022: -9.07% (-11.21%); 2023: -21.88% (-6.68%); 2024: 2.03% (12.82%); 2025: 34.54% (16.26%). Data from fund periodic reports. Past manager: Li Wei (Jan 27, 2022 - present). The GF Large Cap Growth Hybrid Fund was established on June 13, 2007. Benchmark: 75% × CSI 300 Index + 25% × SSE Government Bond Index. Past performance (vs. benchmark): 2021: -0.37% (-2.62%); 2022: -15.92% (-15.64%); 2023: -23.05% (-7.65%); 2024: -2.68% (13.46%); 2025: 39.29% (13.49%). Data from fund periodic reports. Past managers: Li Chen (Jun 13, 2007 - Dec 30, 2010), Xu Xuemei (Dec 31, 2010 - Feb 5, 2013), Feng Yonghuan (Feb 5, 2013 - Dec 8, 2014), Li Chen (Feb 23, 2016 - Feb 10, 2020), Cheng Kun (Feb 5, 2013 - Feb 10, 2020), Miao Yu (Nov 5, 2018 - Nov 4, 2022), Li Wei (Nov 4, 2022 - present). The GF Jiangxin Select Three-Year Holding Hybrid Fund (Initiative) was established on July 30, 2024. Benchmark: CSI 800 Index Return × 60% + HKD-denominated Hang Seng Index Return × 25% + ChinaBond-New Composite Wealth (Total Value) Index Return × 15%. Past performance (vs. benchmark): 2025: 37.83% (19.03%). Data from fund periodic reports. Past manager: Li Wei (Jul 30, 2024 - present). Past full-year performance and benchmark returns are from fund periodic reports. The above only lists Class A share performance data. Risk Warning: A fund's past performance does not predict its future results. The past performance of other funds managed by the same manager does not indicate the future performance of the new fund. Funds carry risks, and investment requires caution.
Note 2: Fee Structure
One-time Fees
Class A Subscription Fee: For amounts (M) less than 1 million yuan: 0.80%. For 1 million ≤ M < 5 million yuan: 0.60%. For M ≥ 5 million yuan: 1,000 yuan per transaction.
Class A & C Redemption Fee: For holding period (N) less than 7 days: 1.50%. For 7 days ≤ N < 30 days: 1.00%. For 30 days ≤ N < 180 days: 0.50%. For N ≥ 180 days: 0%.
Annual Fees
Management Fee: This fund determines the management fee for each fund share based on its holding period and annualized return during the holding period, upon redemption, transfer, or fund termination. If the holding period is less than one year (365 days) when the investor redeems, transfers shares, or the fund terminates, a management fee of 1.20% per annum is charged. If the holding period reaches one year or more, the applicable management fee rate is determined based on the annualized return (R) during the holding period as follows: If R ≤ Rb - 3%: 0.60% per annum. For all other cases: 1.20% per annum. If R > Rb + 6% and R > 0: 1.50% per annum.
Custodian Fee: 0.20%.
Class C Sales Service Fee: 0.40%.
Note 1: Class A shares do not charge a sales service fee. Class C shares do not charge subscription fees.
Note 2: ① R is the annualized return of the specific fund share; Rb is the annualized return of the fund's benchmark over the same period. ② Specifically, for holdings reaching one year or more, in the case where R > Rb + 6% and R > 0, if the annualized return after deducting the proposed excess management fee would be less than or equal to Rb + 6%, or less than or equal to 0, the management fee for that fund share will still be charged at the 1.20% annual rate. This ensures that the annualized return after deducting the excess management fee still meets the criteria for the fund to charge the excess management fee. Please refer to the fund's prospectus, fund contract, and other legal documents for details.
Risk Warning: This fund invests in the securities market. Investors should fully understand the product characteristics of this fund and bear all types of risks arising from the fund investment before investing. If the fund's assets invest in Hong Kong Stock Connect eligible securities, they will face specific risks associated with the Hong Kong Stock Connect mechanism, including differences in investment environment, investment targets, market systems, and trading rules. This fund is issued and managed by GF Fund Management Co., Ltd. Distributing institutions do not assume responsibility for the investment and redemption of the product. Please read the fund's contract, prospectus, and other legal documents carefully before investing to fully understand the details and risk characteristics of this fund. This fund is a hybrid fund. Its expected risk and return are higher than those of money market funds and bond funds but lower than those of equity funds. The specific risk rating result is subject to the rating provided by the fund manager and sales institutions. Investors should choose products that match their risk tolerance and investment objectives. Funds involve risks; investment requires caution.
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