Up to over 65% profit this year! You can't miss the techniques of these fund "professional buyers"

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Did you make money by buying funds in 2025?

At least in the industry, there are "professional buyers" who have indeed made big profits by investing in funds.

According to data released on the morning of January 5, the Guotai Preferred Leading One-Year Holding Fund managed by Zeng Hui had an annual return of over 65% in 2025 (fund net value updated to December 29, 2025), ranking first. In addition, several E Fund's FOFs almost "dominated" the top ten.

In 2025, taking advantage of the beta market through precise tracking was one approach; done well, it could even win the "championship".

For internal FOFs, however, pursuing alpha has become a key mission. The E Fund Advantage Return Fund managed by Hu Yunfeng even managed to buy into five actively managed equity funds whose net value doubled in 2025—another approach entirely.

Guotai and E Fund Almost Swept the Leaderboard

Next, the E Fund Advantage Return Fund managed by Hu Yunfeng had a 2025 return close to 62.1%. The E Fund Advantage Leading Six-Month Holding Fund managed by Zhang Haoran had a return of over 55.9% for 2025, ranking second and third, respectively (fund net value updated to December 30, 2025).

Additionally, there was Guotai Industry Rotation managed by Zeng Hui; E Fund Advantage Driven One-Year Holding, E Fund Advantage Value One-Year Holding, E Fund Preferred Star Convergence Six-Month Holding managed by Zhang Haoran; E Fund Advantage Fenghua Six-Month Holding managed by Huang Yilei; E Fund Advantage Pioneer One-Year Holding managed by Liu Shuxia; and Qianhai Kaiyuan Yueyuan managed by Li He and Liu Tian—all with gains over 42% in 2025, making up the top ten FOFs of 2025 (fund net value update dates shown in the chart below).

Overall, the top ten consisted of 2 Guotai FOFs, 6 E Fund FOFs, and 1 Qianhai Kaiyuan FOF.

The Champion Embraces Resources and Growth

Zeng Hui, the fund manager of Guotai Preferred Leading One-Year Holding Fund, previously worked at Ping An Life Insurance, Guotai Fund, and Caitong Securities. In September 2023, he rejoined Guotai Fund, and since November 2023, successively became the fund manager of multiple FOFs, serving as deputy director of the FOF investment department since September 2023.

The two leading FOFs he managed exhibited strong trading characteristics, being very sensitive and decisive in switching market hot spots.

For example, the Guotai Preferred Leading One-Year Holding Fund in 2025 showed a “abandon dividend, embrace resources and growth” approach.

In the first quarter of 2025, while still holding banking ETFs, he began to significantly increase positions in rare earths, gold, and pharmaceuticals.

In the second quarter, Guotai Preferred Leading One-Year Holding Fund sold all banking stocks, and resources such as rare earths, gold, and silver took the lead, while continuing to increase holdings in innovative pharmaceuticals.

In the third quarter, rare earths and pharmaceuticals were significantly reduced or sold off, while continuing to hold large amounts of gold funds and making substantial purchases of battery ETFs.

Additionally, the fund also bought stocks from the non-ferrous metals sector, further increasing its overall weight in the resources area.

However, the fund’s holdings at the end of the third quarter could not fully explain its performance in the fourth quarter, indicating another likely switch in holdings.

It is worth mentioning that this FOF's holdings leaned more towards index products and could fully express its own beta judgment.

Internal FOF Heavily Invests in 5 Doubling Funds

The leading FOFs from E Fund showed a different style.

The E Fund Advantage Return Fund managed by Hu Yunfeng is a typical internal FOF, where all the core holdings are E Fund’s own funds. The biggest feature of its 2025 investment strategy was the tilt from balanced allocation to technological growth, showing high concentration in holdings in the second half of the year.

In the first quarter of 2025, E Fund Advantage Return FOF heavily invested in E Fund Information Industry Select C, making it one of its top two holdings. By the third quarter, this fund accounted for as much as 18.12% of net asset value, becoming the largest holding of E Fund Advantage Return FOF.

At the same time, E Fund Core Fusion steadily remained among the top two holdings of E Fund Advantage Return FOF at the start of the year, with holding proportion rising from around 10% at the beginning of the year to 16.72% in the third quarter.

In other words, as of the third quarter report, just these two funds accounted for close to 35% of E Fund Advantage Return FOF's positions. Such an allocation is rare, and both funds focus on tech stocks, especially information technology, indicating the manager’s strong conviction in the A-share tech growth style. In fact, both funds achieved gains of over 100% in 2025, allowing E Fund Advantage Return FOF to share in this excess return.

It is notable that, according to the third quarter holdings, five holdings of E Fund Advantage Return FOF doubled in net value in 2025. Besides the aforementioned E Fund Information Industry Select C managed by Zheng Xi and E Fund Core Fusion managed by Liu Jianwei, there are E Fund Strategic Emerging Industries C managed by Zheng Xi, E Fund Information Industry C managed by He Yicheng, and E Fund New Normal managed by Li Jianfeng. Furthermore, E Fund Reform Dividend managed by Chen Hao, another holding, also rose more than 90% in 2025.

Overall, for an internal FOF, he was able to make strategic adjustments from the perspective of sub-fund strategy α sources and market adaptability, also benefiting from the numerous actively managed tech growth equity funds available within E Fund.

The fund manager Hu Yunfeng had many years of low-profile experience before taking office. From July 2008 to September 2008, he was a researcher at Industrial Global Fund’s Research Department; from November 2008 to August 2014, a researcher in Fixed Income Department and Research Department at Wanjia Fund; from August 2014 to August 2016, a researcher in Research Department at BOC Schroder Fund; from August 2016 to May 2017, an assistant fund manager in Investment Department at HFT Investment Fund.

In May 2017, Hu Yunfeng joined E Fund, serving as industry researcher, assistant fund manager, and investment manager. It wasn’t until April 2022 that he became FOF fund manager. Even just within E Fund, he had 5 years of experience before taking up his current position, which is quite beneficial for managing internal FOFs.

Risk Warning and DisclaimerThe market carries risk; investment requires caution. This article does not constitute personal investment advice, nor consider individual users’ specific investment objectives, financial situations, or needs. Users should consider whether any opinions, views, or conclusions in this article are suitable for their situation. Investment based on this article is at your own risk. ```