如何打造能穿越周期的投资组合？兴证全球基金多元资产配置的实践与探索

Core Viewpoint - The article emphasizes the increasing demand for diversified asset allocation among investors in a volatile market, highlighting the innovative strategies employed by Xingzheng Global Fund to create resilient investment portfolios that can withstand market fluctuations [1]. Group 1: Multi-Asset Investment Strategy - Xingzheng Global Fund is a pioneer in the "multi-asset + multi-strategy" investment model, having established its FOF investment and financial engineering department in 2016 with a team of 22 members [2] - The team utilizes a modular management approach, with dedicated researchers focusing on various asset classes, including equity funds, fixed income funds, overseas markets, and alternative assets, to identify diverse income opportunities [2] - The fund offers a range of FOF products, including public FOFs, separate account FOFs, and advisory services, providing clients with tailored multi-asset and multi-strategy solutions [2] Group 2: Global Asset Allocation - In 2024, the fund launched the "Xingzheng Global Multi-Asset Income" advisory strategy, which employs dynamic asset allocation across regions and asset classes to create an investment framework with all-weather risk hedging capabilities [3] - This strategy is recognized as one of the first domestic cases to implement global asset allocation concepts in buy-side advisory practices, winning the Golden Bull Award for innovative advisory cases in June 2023 [3] Group 3: Evolving Asset Allocation Services - In July 2023, the FOF Investment and Financial Engineering Department was renamed the Multi-Asset Allocation Department, aiming to build a flexible and rich multi-asset research system to meet the evolving asset allocation needs of investors [4] - The investment practice focuses on three core objectives: high-quality beta, stable alpha, and reduced gamma, establishing a disciplined framework to manage risk and return characteristics of each product [4] - As of June 30, 2025, all ten public FOF products established for over six months have generated significant excess returns compared to their performance benchmarks [4] Group 4: Wealth Management Redefined - The transition from FOF investment to multi-asset allocation and advisory services is redefining the essence of wealth management at Xingzheng Global Fund [5] - The advisory team emphasizes the importance of professional support to help investors navigate market volatility and build trust through long-term engagement [5] - The multi-asset allocation team is committed to optimizing cross-asset and cross-cycle combinations, smoothing portfolio volatility, and effectively managing risks through a dynamic rebalancing mechanism [5]