"Her Power" | Two female fixed-income fund managers from Huashang Fund meet the era's call with professionalism

At Huashang Fund, there is a group of female fund managers who base their work on knowledge and wield professionalism as their tool. They meticulously delve into diverse investment fields such as equities, fixed income, high-end manufacturing, technology, pharmaceuticals, and cyclical industries, integrating the delicacy, resilience, and wisdom of women into every investment decision, continuously striving to create wealth for investors. The brand spirit of Huashang Fund—“professionalism, proactivity, integrity, innovation, and responsibility”—becomes increasingly vibrant with their blossoming.

Wu Yuling

Master of Finance, Renmin University of China

Manager of Huashang Hongfeng Pure Bond Fund

Manager of Huashang Hongxin Pure Bond Fund

Personal Experience:

Joined Huashang Fund Management Co., Ltd. in 2017, serving successively as a fixed income researcher, fund manager assistant, and fund manager. As of the end of 2025, has 8.4 years of experience in the securities industry (6.6 years in securities research and 1.8 years in securities investment).

Investment Style:

Wu Yuling of Huashang Fund excels at actively seizing trading opportunities while strictly controlling portfolio credit risk and liquidity risk. She expresses her hope to strive for long-term stable investment returns for investors, working hard to achieve a balance among returns, risks, and liquidity.

She employs a top-down analytical framework, primarily driven by fundamentals, to make judgments on the medium to long-term trend of interest rates. Based on this, she constructs a comprehensive high-frequency data and indicator tracking system to identify dominant factors under different market environments and dynamically adjusts the portfolio’s duration and leverage. Her extensive credit research experience across multiple industries such as real estate, municipal investment, building materials, media, agriculture, light industry, and tourism enables her to adeptly grasp changes in industry prosperity and uncover excess returns on individual bonds and opportunities in industry spread rotation through in-depth research.

Investment Outlook:

Based on the domestic fundamentals and policy situation, Wu Yuling maintains the portfolio duration at a slightly high position relative to market neutrality. She continues to adopt a conservative credit strategy, primarily investing in interest rate bonds and mid to high-grade credit bonds, while actively participating in swing trading of interest rate and credit bonds.

A Message to Holders:

The road is long and difficult, but if we keep walking, we will arrive; if we do not cease to move forward, the future can be expected.

Zhang Yudi

Master of Economics, Wuhan University

Manager of Huashang Stable Hongli One-Year Holding Mixed Fund

Personal Experience:

Joined Huashang Fund in 2020, successively serving as an industry researcher, fund manager assistant, and fund manager. As of the end of 2025, has 7.4 years of experience in the securities industry (including 6.6 years in securities research and 0.8 years in securities investment).

Investment Philosophy:

Zhang Yudi of Huashang Fund deeply engages in cyclical industries, focusing on in-depth research and multi-dimensional verification, committed to transforming high-risk cyclical stock investments into low-risk, high-win-rate quality investment opportunities.

She emphasizes data analysis, roadshows, and research, combined with macro and meso-level prosperity trends, to conduct cross-validation, thereby increasing the win rate and lead time for judgment on industry cycle direction and current stage. She pays close attention to continuous industry research and tracking, transforming high-risk cyclical stock investments into low-risk, high-win-rate investments. Additionally, she values in-depth research to identify industries and companies with stable business models and moats. Based on this, she closely monitors risk points that suppress valuations and changes in market expectations, actively seeking potential “double-hit” opportunities in valuations and performance, striving for steady appreciation of the investment portfolio.

Investment Outlook:

Looking ahead, Zhang Yudi states that she expects stable growth policies to continue to exert force, anticipating further stabilization and recovery of the economy, with corporate profitability also expected to continue improving, leading to enhanced perceptions of economic growth in China. In the bond market, she expects a relatively balanced market sentiment, which may continue to exhibit characteristics of a volatile market. In the equity market, considering China’s fundamental resilience and valuation advantages under the reconstruction of the international new order, the index may continue to fluctuate upwards.

A Message to Holders:

Wisdom and resilience go hand in hand, safeguarding every responsibility, forging the future with steadiness.

(Edited by: Xu Nannan)

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