穿越牛熊市场 兴银理财“兴合汇景1号”断层第一丨机警理财日报

Core Insights - The article highlights the strong performance of mixed-asset wealth management products, particularly the "Xinghe Huijing No. 1" from Xingyin Wealth Management, which has outperformed traditional fixed-income products in a challenging market environment [2][3]. Performance Summary - Mixed-asset wealth management products have shown significant advantages this year, with an average net value increase of 3.36% in the first eight months, compared to only 1.68% for fixed-income products [2]. - The "Xinghe Huijing No. 1" product achieved a net value growth rate of 12.02% over the past six months, significantly outperforming the benchmark [2][4]. - The product has demonstrated strong risk-return balance, with a maximum drawdown lower than that of the CSI 300 index during the same period [2]. Investment Strategy - The "Xinghe Huijing No. 1" is a medium-high risk mixed product that operates on an open-ended net value model, with a performance benchmark linked to a combination of the CSI 300 index and a short-term bond index [3]. - The investment strategy includes a focus on equity investments managed by a specific asset management plan, while the fixed-income portion is managed by Xingyin Wealth Management [3]. - The product has shown resilience during market downturns, effectively controlling net value fluctuations and drawdowns [3]. Recent Performance Metrics - Since its inception, the "Xinghe Huijing No. 1" has achieved a net value growth rate of 22.13%, significantly outperforming its benchmark, which has seen a decline of 2.24% [4]. - The product recorded an annualized return of 46.93% over the past three months and an impressive 84.03% annualized return in the last month [4]. Portfolio Composition - The product's performance is largely attributed to individual stock selections, such as Pop Mart, which has seen a price increase of over 200% this year [5]. - The portfolio has also increased its holdings in gold stocks, with significant contributions from Zijin Mining and Hunan Gold, both of which have risen over 70% this year [5]. Strategic Advantages - The product's performance benefits from a recovering equity market, with a focus on bottom-up stock selection to capture alpha returns [6]. - It emphasizes diversified asset allocation, balancing stable bond income with opportunities in equity markets [6]. - The six-month open-ended structure allows for liquidity while enabling the management team to seize medium to long-term investment opportunities [6].