主理人面对面丨海外资产波动加剧，开启“全球多元配置”的时机到了吗？

Core Viewpoint - The article emphasizes the growing popularity of "global multi-asset allocation" as a strategy among investors, highlighting its potential to reduce portfolio volatility and diversify income sources through the inclusion of overseas equities, U.S. bonds, and gold alongside domestic stocks and bonds [1][4]. Group 1: Global Multi-Asset Allocation Strategy - The strategy aims to lower portfolio volatility by incorporating low-correlated assets from different markets, allowing for more diverse income sources [1][3]. - The "Global Multi-Progress" fund advisory strategy was launched by GF Fund to continuously track global asset investment opportunities and scientifically allocate assets for long-term returns [3][4]. - The article clarifies common misconceptions about global multi-asset allocation, stating it is not merely about investing heavily in U.S. stocks but rather about a balanced approach across various asset classes [7][10]. Group 2: Market Performance and Policy Impact - U.S. stock performance has been lackluster in 2023, with significant volatility attributed to fluctuating tariff policies under the Trump administration [4][8]. - The article presents data showing that the China A500 index has outperformed the S&P 500 index this year, raising questions about the viability of global multi-asset allocation in a complex market environment [7][10]. - The article discusses the relationship between U.S. policy stability and stock market performance, suggesting that continued volatility could impact the upcoming midterm elections in 2026 [12][11]. Group 3: Historical Performance and Effectiveness - Historical data from the past decade indicates that global asset allocation strategies have positively influenced account performance across various market cycles [24][26]. - The "Global Multi-Progress" strategy has shown a significant annualized return compared to domestic stock-bond combinations, with a Sharpe ratio five times higher than that of domestic portfolios [26][27]. - The article concludes that the global multi-asset allocation strategy is effective in providing a smoother investment experience and achieving better risk-return profiles [24][27]. Group 4: Implementation of Global Multi-Asset Allocation - The "Global Multi-Progress" fund advisory strategy is structured to include a diversified mix of assets, with a current allocation of approximately 42% in A-shares, 40% in U.S. stocks, and about 7% in gold [29][31]. - The strategy aims to balance growth and stability by maintaining a diversified portfolio that includes both domestic and international assets [31][33]. - The article encourages investors interested in global multi-asset allocation to explore the "Global Multi-Progress" strategy for a comprehensive investment approach [33].