Self-purchased 20 million, a major private equity firm initiates the first buyback of the Year of the Horse

Well-known private equity institutions recently launched their first buyback of the Year of the Horse.

On March 9, Heyuan Fund announced that based on a positive outlook for the long-term development of China’s capital markets and confidence in its own investment management capabilities, the company plans to purchase fund products under its management with 20 million yuan of its own funds within three months of the announcement.

This move quickly drew market attention to Heyuan Fund. As a private equity firm led by experienced public fund experts, why it chose to initiate a buyback at this moment is also highly noteworthy.

Three-month period, full of confidence

According to the announcement, the funds for Heyuan Fund’s buyback come from the company’s own capital, and the target is fund products under its management. The entire buyback will be completed within three months from the date of the announcement.

At the same time, Heyuan Fund emphasized that this buyback is based on a positive long-term outlook for China’s capital markets and confidence in its own investment management capabilities.

Externally, the 20 million yuan buyback scale is relatively rare among private fund buybacks, reflecting Heyuan Fund’s high confidence in its team and the current market conditions.

Who is Heyuan?

Heyuan Fund is highly regarded in the industry, mainly because of its team. Public information shows that the team has many years of experience managing public and private funds, with core members coming from public funds, private funds, securities firms, law firms, and other professional institutions.

General Manager and Fund Manager Guan Huayu has 24 years of securities industry experience, having served as Equity Investment Director and Research Director at Bank of Communications Schroder Fund, with a solid foundation in public funds. Fund Manager Zhuang Yan has 18 years of securities experience; Research Director Ding Jun has 24 years; Fund Manager Ge Qiushi has 14 years. This team has gone through multiple bull and bear cycles, building a research system comparable to public funds, while also incorporating the flexible mechanisms of private funds.

How to view the current market?

Just a few days before the buyback announcement, Heyuan Fund’s official website published its latest monthly outlook for March 2026, with several core research personnel providing first-hand insights into the market.

In their views, Heyuan affirms China’s macroeconomic resilience; on the industry front, Fund Manager Zhuang Yan believes that the two major directions—pan-resource and pan-AI—remain unchanged and have strong performance realization capabilities. The rapid development of domestic AI will gradually drive related industrial chain investments. Heyuan continues to focus its investment strategy on fundamentals and competitiveness, reinforcing supply barriers, while closely monitoring annual and quarterly reports for performance validation, separating genuine opportunities from false ones.

Founder Guan Huayu also emphasized that technological progress, geopolitical conflicts, and supply chain restructuring are long-term themes, and Heyuan will closely follow the core assets of the new era.

From the latest insights of Heyuan’s research team, they maintain a cautiously optimistic attitude toward current market opportunities.

Risk Warning and Disclaimer

Market risks exist; investments should be cautious. This article does not constitute personal investment advice and does not consider individual users’ specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investment based on this information is at their own risk.