过去2年、1年都是同类前二，这套独特打法的含金量还在提高

Core Viewpoint - The article highlights the resurgence of public FOF funds alongside performance recovery, focusing on the successful strategies of fund managers like Tang Jun from Zhongtai Asset Management, who emphasizes a "configuration first" approach in asset allocation [1][2][3] Group 1: Performance and Strategy - Tang Jun's management of Zhongtai Tianze Stable 6-Month Holding A has achieved impressive rankings, with performance rankings of 2 out of 136 and 2 out of 172 for the past two years and one year respectively [1] - The "configuration first" framework proposed by Tang Jun prioritizes establishing a personal asset allocation framework before selecting suitable fund products, contrasting with traditional methods that focus on identifying top fund managers [2][3] Group 2: Asset Allocation Framework - Tang Jun's strategic asset allocation is based on a "currency-credit" framework, analyzing the modern monetary financial system's impact on asset performance, particularly favoring bonds and commodities in a low-interest-rate environment [3][4] - The tactical allocation involves adjusting positions based on market sentiment and funding conditions, with recent adjustments including a reduction in dividend-heavy assets and an increase in growth-oriented investments [4][6] Group 3: Multi-Asset and Low-Correlation Approach - Tang Jun advocates for a focus on "low-correlation multi-return streams," inspired by Ray Dalio's concept of diversifying across 15 to 20 independent return streams to reduce risk without sacrificing expected returns [7][8] - The investment strategy includes a nuanced approach to asset classification, where assets are evaluated based on their correlation with other assets rather than merely by category, allowing for more effective diversification [7][8] Group 4: Performance Metrics - Since its inception, Zhongtai Tianze Stable 6-Month Holding A has shown varying net asset value growth rates, with figures of -3.70%, 7.22%, and 6.91% for 2023, 2024, and the first half of 2025 respectively, compared to its performance benchmark [9]