"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 adhering to 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 funds managed by 4,152 fund managers, with 1,110 of them women—who bring unique insights into investment.

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

“In investment, we focus on sustained 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. Additionally, we pay attention to macroeconomic cycle fluctuations, avoiding blind investments detached from the macro environment,” summarizes 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, with 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.

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

She believes that by 2026, the bond market may show more “range-bound oscillations 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 market conditions to determine appropriate duration and leverage, tracking leading indicators for dynamic adjustments, and cutting losses decisively when risks materialize. 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 managing credit risk, optimizing duration and leverage, we enhance the risk-adjusted returns of the portfolio,” she states.

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

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

“Accompany holders through cycles with transparency, empathy, and professionalism: during market turbulence, avoid risk avoidance or panic; regularly share holdings logic and adjustment ideas, clearly communicate investment frameworks; during downturns, reinforce long-term principles, convey confidence through communication and systematic investment advice, and flexibly optimize strategies based on holders’ risk tolerance. Patience and professionalism safeguard long-term value,” summarizes Yan Xin.

Yan Xin, Fund Manager of Xinyuan Financial Bonds 3 Months and Xinyuan Qifeng Funds, has 12 years of securities experience, with sharp research and trading skills, especially in liquidity management and market insights. She emphasizes defensive strategies, focusing on managing drawdowns.

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 sensitive to changes in funding and institutional behavior, allowing timely strategy adjustments to control drawdowns. She also has in-depth research on 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 to analyze issues more rationally and comprehensively.

She sees short-term bond market fluctuations as a “bottoming process,” 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 risks, and employing tactical adjustments and flexible rebalancing. She focuses on high-grade bonds, strictly controlling sector and issuer concentration, monitoring financial reports, market sentiment, and debt repayment capacity, and dynamically managing risks and positions.

“When markets are volatile, shorten duration and increase allocation to rate bonds to protect net value; in stable environments, moderately increase high-quality credit bonds to enhance yields. Always prioritize drawdown control and liquidity, pursuing sustainable, steady returns within risk limits, accompanying holders through cycles,” she states.

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

Investing Beyond Returns—Honest Communication, Empathy, and Companionship with Guo Hui of Xinyuan Fund

“The greatest pain for holders often isn’t the volatility itself but not understanding why it happens or 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,” summarizes Guo Hui.

Guo Hui, Fund Manager of Xinyuan Chunli Fixed Period Open and Xinyuan Huixiang Pure Bond 3-Month Fixed Open Funds, has 15 years of securities experience, with both sell-side research and buy-side investment backgrounds. She excels in macro and rate trading, especially in timing and security selection.

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 analyses, while safety relies on detailed fundamental research and verification. During investments, maintaining clear thinking, understanding the sources of returns, and ensuring robustness are essential.

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

She sees the bond market as likely to experience narrow-range oscillations amid moderate macroeconomic recovery and liquidity conditions.

In her strategy, she combines long-term market tracking, flexible tactical adjustments, and meticulous risk management to avoid interest rate and credit risks. For interest rate risk, she dynamically adjusts duration, employs tactical trading, and monitors yield curve changes. For credit risk, she deepens fundamental research, improves credit evaluation and sentiment monitoring, and manages diversification and concentration to build a resilient defense system.

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

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

Using Macro and Micro Insights, Quantitative Wisdom to Navigate Bond Cycles—Huang Shi of Xinyuan Fund

“Macro factors are the core foundation for long-term asset trends, while micro variables influence short-term movements. Asset allocation isn’t always smooth sailing; price rises and falls don’t happen overnight. We need to grasp current long-term factors and combine them with short-term variables to make informed decisions,” summarizes Huang Shi.

Huang Shi, Fund Manager of Xinyuan Wenfeng Rate Bonds and Xinyuan Xingli Fixed Period Open Funds, has extensive practical experience and a unique decision-making system, especially skilled in using quantitative tools to extract core signals from trading data for precise market short-term predictions.

With six years of securities experience, including banking and non-bank research, she specializes in fixed income quantitative trading, adept at applying quantitative tools in investments. She emphasizes that patience is especially important for women in research, as attention to detail helps identify potential issues and avoid operational and compliance risks.

Regarding market volatility, she states that support from family and friends through sharing and listening is her primary stress relief. Often, expressing worries and anxieties alleviates pressure. Since holders also face stress during market swings, she emphasizes timely communication, market interpretation, and sharing investment ideas to ease their anxiety and accompany them through turbulent times.

She believes that with the arrival of spring, the first quarter is an ideal time for bond allocation. After a challenging year, the bond market may have passed its toughest phase, making the first quarter a good window for bond investments.

In her practice, she closely monitors policy changes, uses macro and micro data analysis to assess fundamentals, and tracks banking and non-bank funding conditions to avoid interest rate risks. For credit risks, she keeps an eye on industry and issuer developments, employing diversified and concentrated strategies to build a resilient defense system.

“Bond investment decisions follow a top-down and bottom-up process: starting with macro, policy, and liquidity analysis to determine duration, leverage, and asset allocation, then selecting individual securities with detailed trading. Ongoing monitoring and dynamic adjustments optimize the balance between yield and safety, with regular review and attribution analysis to improve performance,” she concludes.

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