"Her Power" | China Post Fund Fund Manager Yao Yi: Only through self-iteration can one traverse cycles

In traditional perception, 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 opposition—firmness represents sticking to principles and bottom lines, while flexibility signifies wisdom and guidance. Together, they forge an investment path that balances impact and warmth, reflected in net value curves and long-term value.

China Post Fund has a strong tradition of excellent research and investment culture. Its fixed income investment capabilities have always been among the best in the industry. The China Post fixed income team continues to adhere to a prudent investment philosophy, using professional judgment and rigorous risk control to strive for opportunities in the bond market. They will keep a close eye on macroeconomic trends and policy developments, adjusting investment strategies promptly to adapt to market changes.

China Post Fixed Income Female Leader Yao Yi

With nearly 12 years of experience in securities, Yao Yi started her career trading stocks and bonds before moving into fixed income investments. In recent years, she has expanded into “Fixed Income+” strategies. Since entering the fund industry after graduation, her guiding principle has been to enable ordinary people to confidently manage their finances through funds, using a portfolio management approach to balance returns and risks reasonably.

Steering with “Balance” for Steady and Long-term Growth

In the volatile capital markets, Yao Yi defines her investment style with one word: balance.

First is the balance between risk and return. She insists on strict risk control, avoiding extreme risks, rejecting “crash-style” investments, and aiming for long-term, steady appreciation—continuously generating reasonable and sustainable excess returns over time.

Balance also applies to portfolio structure. By diversifying across multiple asset classes and sectors, and leveraging the characteristics of assets that are not fully correlated or even negatively correlated, she constructs resilient portfolios with better risk-return profiles.

Balance is also about the equilibrium between value and price. She continuously monitors the expected differences between asset prices and market narratives, adhering to cost-effectiveness standards, remaining alert to bubbles, and digging deep for value. Dynamic optimization and timely rebalancing keep the portfolio healthy and manageable.

With balance as her compass and professionalism as her drive, she seeks opportunities within stability and creates long-term value with composure. Regularly examining the expected differences between asset prices and market narratives, focusing on value and cost-effectiveness, and rebalancing the portfolio are her key practices.

In her view, investment advantages are more determined by personality than gender. From a historical perspective, women are inherently gentle, introverted, meticulous, and resilient—traits that incline them toward prudent investing and long-term thinking.

Regarding long-term investing, Yao Yi discusses the development trends of public fund products. Currently, public funds are evolving mainly in two directions:

1. Tool-based products represented by ETFs, primarily serving professional investors with high trading attributes.

2. Long-term oriented products like “Fixed Income+” strategies. As fund managers emphasize diversification and asset correlation, investors are gradually establishing reasonable expectations for returns and risks. Steady, long-hold products are maturing.

Only Self-Iteration Can Survive Cycles

Yao Yi candidly states that investing is fundamentally a game of probabilities—key is to seize certainty and reasonably participate in uncertainty. Continuous self-iteration and updating enable us to stay aligned with investors, confidently navigating market cycles and achieving steady, long-term growth.

By 2026, investment will continue to focus on resources and technology as dual main themes, driven by the resonance of industry cycles, policy support, and macroeconomic conditions.

As a leading theme, technology is entering a period of rapid development. Breakthroughs in computing infrastructure, edge applications, and humanoid robots, combined with the strategic support from the “14th Five-Year Plan” for new productive forces, are becoming core engines of economic growth. The AI industry chain is expanding from infrastructure to edge applications, with breakthroughs in scenarios like humanoid robots warranting close attention.

Yao Yi emphasizes that AI will be a new tool transforming our lifestyles, increasingly integrated into all aspects of life. We should participate in it through investments as a hedge for our careers, and also learn, master, and utilize it as a skill.

The resource sector plays a dual role of defense and value addition. On the supply side, due to long-term underinvestment, geopolitical conflicts, and environmental policies, it exhibits rigidity. On the demand side, benefits come from sustained technological manufacturing growth and the gradual recovery of traditional industries. Gold and other precious metals, with their safe-haven properties, remain important assets in complex macro environments.

Additionally, dividend-paying assets will continue to be held as long-term allocations. New consumption sectors such as service consumption and sentiment-driven consumption are expected to present structural investment opportunities amid consumption recovery.

Finally, regarding what she wants to say to investors, Yao Yi sincerely thanks everyone for their trust and support in her management.

Message: Time flies. I hope that as time passes, both understanding and net value will grow, and that we can grow together with our investors.

Written by Xu Nannan, Edited by Xu Nan

(Edited by Xu Nannan)

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