"Her Strength" | Xinyuan Fund's Four Fixed Income Women Leaders Prioritize Safety and Strive for Steady Returns

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 flexibility. The current “her power” breaks this binary—being firm means upholding principles and bottom lines, while softness signifies wisdom and guidance. Together, they forge an investment path that balances intensity and warmth, reflected in net value curves and long-term value.

As fund assets expand and the number of fund managers increases daily, more women are safeguarding investors’ money, gradually increasing their share in the industry. According to the latest Wind data, there are 13,821 public fund products managed by 4,152 fund managers, of whom 1,110 are women—these women bring unique insights to investment.

Eighteen Years of Fixed Income Deep Expertise, Navigating Bond Cycles with Stability — Liu Lijuan of Xinyuan Fund

“In investment, we emphasize consistent and stable returns, always prioritizing the safety and liquidity of entrusted assets. Only by ensuring asset security and flexibility can we lay a solid foundation for future gains. At the same time, we pay attention to the cyclical fluctuations of the macroeconomic environment, avoiding blind investments detached from macro conditions,” summarized Liu Lijuan of Xinyuan Fund.

Liu Lijuan, Deputy General Manager and Fund Manager of the Fixed Income Department at Xinyuan Fund, has 18 years of securities experience and extensive fixed income investment expertise. She has navigated multiple bull and bear markets, pursuing absolute stability. She currently manages funds including Xinyuan Anxinbao, Xinyuan Hefu Pure Bond, and Xinyuan Fuli Fixed Period Open.

She always puts the interests of holders first, practicing meticulous management, leveraging the “small profits accumulate” investment principle, and seizing every opportunity to generate excess returns, striving for consistent and stable performance for investors.

In her view, women tend to have a stronger risk awareness in decision-making, considering multiple factors comprehensively and avoiding reckless risks. Before major market declines, many female fund managers, with keen risk perception, adjust their portfolios early to reduce exposure and make more prudent investment decisions.

She believes that by 2026, the bond market may show more “range-bound oscillation and increased volatility,” demanding higher trading skills.

In practice, she always prioritizes risk control, seeking excess returns under strict risk management. Regarding interest rate risk, she assesses the market to determine appropriate duration and leverage, tracking leading indicators for dynamic adjustments, and evaluating impacts to cut losses decisively during risk events. For credit risk, she maintains strict bottom lines, avoiding chasing high yields through downgrades, and tightly controls default risks.

“Returns and risks go hand in hand; investing is a game of probabilities. By analyzing cycles and policy directions, strictly controlling credit risk, optimizing duration and leverage, we can improve the risk-adjusted return of the portfolio,” she said.

Message: Despite holding multiple identities, the primary goal is to be true to oneself. At all times, stay firm in your beliefs, trust your strength, and shine with your own brilliance.

Protecting Net Value, and More, Protecting Confidence — Yan Xin of Xinyuan Fund

“Accompanying holders through cycles relies on transparency, empathy, and professionalism: during market turbulence, we do not avoid risks or stir anxiety; instead, we regularly share our holdings logic and adjustment strategies, clearly communicate our investment framework. When markets are sluggish, we reinforce long-term principles, conveying confidence through communication and systematic investment suggestions, tailoring strategies to holders’ risk tolerance, and safeguarding long-term value with patience and expertise,” summarized Yan Xin of Xinyuan Fund.

Yan Xin manages funds including Xinyuan Financial Bonds 3 Months and Xinyuan Qifeng.

With 12 years of securities experience, she is skilled in research, trading, and liquidity management, with sharp market insights and analytical skills. She emphasizes defensive strategies, focusing on drawdown management. Currently, she manages Xinyuan Financial Bonds 3 Months and Xinyuan Qifeng funds.

Her deep understanding of liquidity management and extensive trading experience enable her to respond swiftly to market fluctuations. Her early experience as a bank trader made her highly sensitive to changes in funding and institutional behavior, allowing timely strategy adjustments to control drawdowns. She has also studied duration strategies for interest rate bonds, aiming to generate returns in low-rate environments through duration adjustments.

She believes that women’s resilience helps us stay calm amid market volatility, avoiding being swayed by short-term emotions, and adhering to investment principles. Women are also good listeners, gathering diverse viewpoints and analyzing issues from multiple angles to make more rational and comprehensive decisions.

She sees short-term bond market fluctuations as a period of bottoming out, with medium- and long-term value still present; steady progress remains the main theme.

In her approach, she flexibly manages duration, mainly using medium-short durations, employing a “dumbbell” allocation to balance liquidity and yield, diversifying maturity risk, and employing tactical trades and flexible rebalancing. She focuses on high-grade bonds, strictly controlling sector and issuer concentration, monitoring financial reports, market sentiment, and debt repayment capacity, conducting dynamic risk assessments, and adjusting positions decisively.

“When markets are volatile, shorten duration and increase allocation to rate bonds to protect net value; during stable periods, moderately increase high-quality credit bonds to enhance yields. Always prioritize drawdown and liquidity, pursuing sustainable, steady returns under controlled risk, accompanying investors through cycles smoothly,” she said.

Message: May every woman become her own light, illuminating her career horizon and warming her life’s moments. We don’t need to live up to others’ expectations but should be the standard answer of our own lives.

Investing Beyond Returns—Honesty, Empathy, and Companionship with Xin Yuan Fund’s Guo Hui

“The biggest pain for investors is often not the volatility itself but the uncertainty of ‘why the volatility occurs’ and ‘how to face it in the future.’ The core of companionship lies in honesty, empathy, and expectation management—proactive communication and facing challenges together help us navigate cycles,” summarized Guo Hui.

Guo Hui manages funds including Xin Yuan Chunli Fixed Period Open and Xin Yuan Huixiang Pure Bond 3-Month Fixed Open.

With 15 years of securities experience, she combines research and trading expertise from both sell-side and buy-side. She excels in macro and rate trading, especially in timing and security selection. She currently manages these funds.

She believes that in fixed income, the most important aspects are the safety and stability of returns, aiming to be a resilient long-distance runner. Stability comes from integrating macro and micro analysis, while safety relies on detailed fundamental research and verification. During investment, maintaining clear thinking, understanding the sources of returns, and ensuring robustness are essential.

She notes that women’s intuition and empathy help us better understand investor needs and market sentiment, improving our ability to grasp trading psychology.

She sees the bond market as experiencing short-term oscillations with a medium- to long-term value, emphasizing steady progress.

Her approach involves long-term market tracking, flexible strategy adjustments, and meticulous risk control to avoid interest rate and credit risks. For interest rate risk, she dynamically adjusts duration, employs tactical trades, and monitors yield curve changes. For credit risk, she deepens fundamental research, improves credit evaluation and sentiment monitoring, diversifies allocations, and manages concentration to build a resilient defense system.

“Bond investment decisions combine top-down macro and policy analysis with bottom-up security selection: starting from macro, policy, and liquidity assessments to determine duration, leverage, and asset allocation, then selecting individual securities through detailed analysis. Continuous monitoring and dynamic balancing optimize returns and safety through regular review and attribution analysis,” she explained.

Message: Learn to find your own rhythm amid busyness, enjoy every moment of work and life, and you’ll realize you have more than you think.

By anchoring macro and micro perspectives and applying quantitative intelligence, we can navigate bond cycles effectively—combining macro data with short-term variables for optimal decision-making.