The fervor surrounding the GEO concept is now spreading from A-share thematic stocks to the fund market. As sentiment in the AI application sector continues to intensify, the Debon Stable Growth Fund, managed by Debon Fund Management, has been thrust into the spotlight. Market rumors about massive capital inflows have circulated on social platforms, quickly capturing investors' attention. Although the exact subscription volume remains undisclosed by official sources, Debon Fund promptly issued a purchase restriction notice, adjusting the subscription limits for single sales channels effective January 13, 2026. This move objectively reflects the pressure from concentrated short-term capital inflows.
While fund purchase restrictions are not uncommon, this particular change has rapidly gained broader interpretation against the backdrop of the GEO concept emerging as a new market narrative. The spillover effects from the AI application rally, combined with periodic high returns from top-performing products, have created a resonance of capital inflows within a short timeframe, pushing certain funds into a "passive deceleration" mode. Focusing on the fund itself, this product is co-managed by two fund managers, one of whom is Lei Tao—previously known for an unexpectedly viral community response filled with everyday humor.
In 2023, when asked about what fund managers do during sustained product declines, Lei Tao's answer avoided technical analysis or market predictions, instead offering a self-deprecating glimpse into his personal life. He replied: "When my fund keeps falling, I try to do more housework so my wife might scold me less—after all, she bought quite a lot of my fund." This response was then viewed as a rare instance of "de-professionalized expression" from a fund manager, temporarily shifting Lei Tao's image away from his research background and management scale into the relatable context of ordinary household dynamics. For the market, it served as a footnote during a period of net value pressure, more like self-mockery in tough times. By early 2026, this old reply has been revived under noticeably changed circumstances. With the AI application sector strengthening, the Debon Stable Growth Fund has seen a recovery in periodic performance and a rapid rise in capital attention, turning Lei Tao's "housework" anecdote from a pressure-induced joke into frequently cited market chatter.
As of January 14, public information shows that Lei Tao’s disclosed live portfolio totals approximately 2.54 million yuan. Within that, his investment in the Debon Stable Growth Fund amounts to about 310,000 yuan, not the largest holding in his personal allocation; the highest investment is in the Debon Fuxin Flexible Allocation Mixed Fund, with roughly 860,000 yuan. In terms of returns, Lei Tao’s overall portfolio gained 6.35% over the past week, 13.63% over the past month, and 65.79% over the past year. His returns in the Debon Semiconductor Industry Fund and Debon Xingxing Value Fund have reached 110% and 183%, respectively, both having doubled.
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