建信基金2025秋季策略会：以“多资产+风控”提升投资者获得感

Core Insights - The 2025 Autumn Investment Strategy Conference hosted by Jianxin Fund emphasized the theme of "The Power of Trust," with multiple fund managers sharing market insights and future outlooks [1] Group 1: Macro Framework and Equity Investment - The equity investment department believes that the A-share market is currently in a phase of "fundamental pricing uplift," with short-term market disturbances driven by capital flow and overseas policies [2] - The long-term focus should be on "AI+" and other new productivity drivers, with AI industry chains and large financial sectors identified as key investment themes [2] Group 2: Technology Investment - As of the end of August, the Sci-Tech Innovation Board has 589 listed companies with a total market capitalization exceeding 10 trillion yuan, indicating a robust index system that includes both leading firms and innovative SMEs [5] - The manager highlighted three promising areas in the pharmaceutical sector: oncology treatments, weight-loss drugs, and autoimmune diseases, with significant growth potential in the domestic market [5] Group 3: Hong Kong Market Insights - The Hong Kong stock market shows a diverse resonance across sectors such as internet, biomedicine, new consumption, and hard technology, supported by low valuations and policy backing [6] - The proportion of southbound capital holdings has increased from 10% in 2022 to 21% currently, indicating a growing local investment interest [6] Group 4: Multi-Asset and Risk Management - In the context of global economic uncertainty, gold remains a valuable asset, supported by central bank purchases exceeding 1,000 tons for three consecutive years [8] - The fixed income investment manager noted potential downtrends in real estate and exports, suggesting a focus on trading opportunities in interest rate bonds and credit bonds [8] Group 5: Investment Strategies in Low-Rate Environment - The investment team proposed a dual approach of "offense and defense" to enhance investor experience, advocating for diversified asset allocation and dynamic weight adjustments based on macro factors [9] - The use of options strategies is recommended to manage risks in equity assets while allowing for potential gains [9] Group 6: Company Overview - Jianxin Fund, celebrating its 20th anniversary, manages over 900 billion yuan in public funds, offering a comprehensive product system across various asset types [11] - The company aims to transform macroeconomic analysis, industry research, and asset allocation capabilities into deliverable solutions for investors, focusing on long-term returns and service to the real economy [11]