Data reveals that as of July 6, 2026, there are 8,054 actively managed equity funds. Their average three-year return stands at 43.96%, with an average volatility of 24.54% and an average maximum drawdown of 27.76%.
Among these, a select group of funds that delivered both high returns and controlled risk is identified. Specifically, only 380 funds—representing a mere 4.72% of the total—achieved an average return exceeding 50% while maintaining both average volatility and maximum drawdown below 25%.
Analysis of Aggressive Hybrid Funds
Within the category of aggressive hybrid actively managed equity funds, 85 funds meet the stringent criteria for balanced performance.
Fund houses with notable representation include Southern Asset Management, JPMorgan Asset Management (China), Boda Fund Management, China Universal Asset Management, and E Fund Management, each with at least five qualifying funds.
Prominent fund managers with multiple qualifying products are Ying Shuai from Southern Asset Management, Zou Lihu from Invesco Great Wall Fund Management, and Ni Quansheng from JPMorgan Asset Management (China), each overseeing at least three funds on the list.
In terms of performance, six funds more than doubled their value over the past three years. These are managed by Zhu Yun from E Fund Management, Chen Wen and Yang Yucheng from Chunhou Fund Management, Yang Ke from ICBC Credit Suisse Asset Management, Chen Siyu from JPMorgan Asset Management (China), Cai Chengfeng from Harvest Fund Management, and Liang Chen from China Merchants Fund Management.
Zhu Yun's fund, the E Fund Resources Industry Mixed Fund (Fund Code: 110025), posted a three-year return of 108.71% (compared to a benchmark return of 50.28%), with volatility of 23.47% and a maximum drawdown of -20.89%.
Launched on August 16, 2011, the fund has returned 141.90% since inception (versus a benchmark return of 15.66%).
According to its Q1 2026 report, the fund's top ten holdings are all in the resources sector: ZIJIN MINING (601899.SH), CHIFENG GOLD (600988.SH), China Jushi Co.,Ltd. (600176.SH), Shanjin International Gold Co.,Ltd. (000975.SZ), Zhongjin Gold Corp.,Ltd. (600489.SH), Shandong Hongqiao Aluminum Industry Holding Company Limited (002379.SZ), Guangdong Songfa Ceramics Co.,Ltd. (603268.SH), Zangge Mining Company Limited (000408.SZ), Guocheng Mining Co.,Ltd. (000688.SZ), and Henan Shenhuo Coal﹠Power Co.,Ltd. (000933.SZ).
Review of Flexible Allocation Funds
In the flexible allocation fund category, 62 funds satisfied the dual-performance criteria.
Southern Asset Management and E Fund Management each have at least five funds on this list.
Fund manager Lu Yushan from Southern Asset Management has three qualifying products.
Five funds in this category achieved returns exceeding 100% over three years. They are managed by Chen Yunzhong from GF Fund Management, Liu Qingxiang from J.P. Morgan Asset Management (China) Fund, Qi He from E Fund Management, Gao Nan from Yongying Fund Management, and Wu Wei from Bosera Asset Management.
The Bosera Industrial New Momentum Mixed Fund A (Fund Code: 000936), co-managed by Cai Bin and Guo Yongsheng from Bosera Asset Management, returned 57.02% over three years (benchmark: 10.12%), with volatility of 17.30% and a maximum drawdown of -16.05%.
Since its launch on January 26, 2015, the fund has gained 280% (benchmark: 17.14%).
Its Q1 2026 top holdings include: Contemporary Amperex Technology Co.,Ltd. (300750.SZ), ZIJIN MINING, Rui Chuang Wei Na, Chengdu Easton Biopharmaceuticals Co.,Ltd. (688513.SH), Shanghai Putailai New Energy Technology Group Co.,Ltd. (603659.SH), Cmoc Group Limited (603993.SH), Yantai Jereh Oilfield Services Group Co.,Ltd. (002353.SZ), Guangdong Songfa Ceramics Co.,Ltd., Eoptolink Technology Inc.,Ltd. (300502.SZ), and Ningxia Orient Tantalum Industry Co.,Ltd. (000962.SZ).
Performance of Standard Equity Funds
Among standard equity actively managed funds, only 20 met the balanced performance criteria.
China Merchants Fund Management is the most represented firm with three funds, two of which are managed by Liang Chen.
Four funds in this category doubled their value over three years. Two are managed by Liang Chen, and one is managed by Zhang Zhongwei from Invesco Great Wall Fund Management.
Liang Chen's fund, the China Merchants Prosperity Select Stock Fund A (Fund Code: 012835), achieved a three-year return of 143.86% (benchmark: 26.23%), with volatility of 19.54% and a maximum drawdown of -14.06%.
Since its inception on July 20, 2021, the fund has returned 90.19% (benchmark: -3.94%).
Its Q1 2026 top ten holdings are: ZIJIN MINING, Qinghai Yanhu Industry Co.,Ltd. (000792.SZ), Hygon Information Technology Co.,Ltd. (688041.SH), Contemporary Amperex Technology Co.,Ltd., China Jushi Co.,Ltd., TENCENT (00700.HK), Cambricon Technologies Corporation Limited (688256.SH), Ningbo Deye Technology Company Limited (605117.SH), Wens Foodstuff Group Co.,Ltd. (300498.SZ), and Guangdong Jiayuan Technology Co.,Ltd. (688388.SH).
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