# China Mutual Funds

The Firefighter Fails: Lion Fund’s Cleanup Star Stumbles on Tech Sector Bets

Lion Fund’s 'firefighting' manager Deng Xinyi is facing a performance crisis as her flagship fund ranks among the worst performers of 2026. Her reliance on concentrated bets in semiconductors and robotics has backfired, highlighting the systemic risks of 'sector betting' in China's mutual fund industry.