兴证全球基金刘潇、刘水清：提供多资产视角下的ETF投资解决方案

Core Viewpoint - The article discusses the launch of the ETF-FOF strategy by Xingzheng Global Fund, highlighting the growing importance of index-based investment tools in multi-asset allocation strategies as the domestic market matures [3][4]. Group 1: ETF-FOF Strategy Launch - The ETF-FOF product, named Xingzheng Global Yingfeng Multi-Asset Allocation Three-Month Holding (ETF-FOF), is managed by experienced fund managers Liu Xiao and Liu Shuiqing [3][4]. - The performance benchmark for the ETF-FOF is set to a specific mix of indices, including 60% of the CSI A500 Index, 15% of the MSCI World Index, 15% of the China Bond Composite Index, 5% of the Hang Seng Index, and 5% of the Shanghai Gold Exchange Au99.99 spot contract closing price [4][5]. - The strategy aims to create a more diversified asset portfolio compared to traditional stock-bond combinations, focusing on long-term risk diversification and stable returns [5][6]. Group 2: Investment Approach and Management - The team plans to utilize index-based tools to express market factor views while also taking advantage of pricing discrepancies in extreme market conditions [6][7]. - The focus will be on selecting high-liquidity ETFs and engaging in short-term trading when significant arbitrage opportunities arise [7][8]. - The team emphasizes the importance of the capabilities of the index management teams behind the ETFs, considering factors like tracking error, liquidity, and fees in their selection process [6][8]. Group 3: Future Development and Goals - The team has over five years of experience in FOF investment management and aims to provide a comprehensive solution for multi-asset allocation [8][9]. - Future plans include expanding the range of asset classes included in the portfolio while maintaining a focus on performance benchmarks to enhance tracking and returns [9].