Yongan Futures(SH:600927) Qi Huo Ri Bao·2025-12-19 10:28Core Insights - The 2026 strategy conference held by Yong'an Futures in Hangzhou focused on exploring wealth management strategies amid complex macroeconomic changes, emphasizing the importance of collaboration and innovation in the financial sector [1] - Yong'an Futures aims to become a leading derivatives investment bank, focusing on six key areas: deepening industry services, enhancing wealth management, accelerating internationalization, strengthening research capabilities, promoting digital transformation, and adhering to long-term investment principles [1] Macroeconomic Environment and Asset Allocation - The chief economist of Caitong Securities highlighted the divergence between nominal and real economic indicators, suggesting reliance on fiscal and monetary policies to navigate the complexities of the macroeconomic landscape [2] - A multi-asset allocation strategy was proposed, emphasizing the importance of balancing risk and return while adapting to changing economic conditions and enhancing residents' risk appetite [2] Commodity Market Outlook - The head of Yong'an Futures Research Center projected a recovery in commodity prices driven by proactive domestic policies and external demand, particularly in the non-ferrous metals sector, which is supported by AI and new energy demands [3] - Structural opportunities in the market were identified, with a focus on sectors experiencing supply disruptions and increased demand [3] Investment Philosophy and Strategies - Investment strategies discussed included a focus on "probability thinking" and "low correlation" to create resilient portfolios capable of withstanding economic cycles [2][3] - The importance of a balanced investment approach was emphasized, with a focus on redemptive assets as a foundation for navigating market fluctuations [3] Discussions on Asset Management and Technology - Roundtable discussions addressed the transition from product-centric to client-centric investment approaches, highlighting the need for collaboration and innovation in asset management [5] - The role of AI in enhancing quantitative investment processes and risk management was a key topic, with insights into how AI can redefine investment strategies [5] Future Directions - Yong'an Futures plans to reshape its research ecosystem with a focus on customer-centric services and data-driven decision-making, aiming to set a benchmark in the commodity research field [6]