固收增强产品受追捧，近一年收益率最高超6%

Core Viewpoint - The A-share market is experiencing increased volatility as the year-end approaches, leading to a growing interest in fixed-income enhancement products that emphasize diversified stock and bond allocations, which are being actively promoted by various wealth management companies [1]. Group 1: Product Promotion and Strategy - Wealth management companies are focusing on promoting fixed-income enhancement products that incorporate low-volatility equity assets and overseas high-yield assets [1]. - Several companies, including China Merchants Bank Wealth Management and Bank of Communications Wealth Management, have released articles highlighting their strategies for these products, catering to different investor needs such as liquidity, long-term value, and short-term flexibility [1]. - The products being promoted include a variety of strategies, such as multi-asset and quantitative approaches, to attract investors in a turbulent market [1]. Group 2: Performance Evaluation - A recent evaluation of public "fixed income + equity" products issued by wealth management companies from June to December shows that six companies have products listed, with Ping An Wealth Management having the most products on the list [4]. - The top-performing product, "Flexible Growth and Profit Daily Open 270 Days Holding 1," and the second product, "Zhaorui Jiayu (Premium) Daily Open 270 Days Holding Period 1," both achieved net value growth rates exceeding 6% over the past year [4]. - All listed products demonstrated a maximum drawdown of less than 1% and an annualized volatility below 2%, indicating strong performance and stability [4]. Group 3: Specific Product Analysis - The second-ranked product, "Zhaorui Jiayu (Premium) Daily Open 270 Days Holding Period 1," has a risk level of three (medium risk) and primarily invests in fixed-income assets while employing various strategies including equity long positions and quantitative hedging [5]. - Since its inception, this product has achieved a net value growth rate of 7.03%, significantly outperforming its benchmark, which has a return of 2.88% [5]. - As of the third quarter of 2025, the product's asset size reached 3.641 billion, with an increased allocation to equity assets from 2.57% to 8.37% [5][6].