多资产策略迎“高光时刻”，头部私募展望新一年配置框架

Core Insights - The average return rate of nearly 1,500 multi-asset strategy products from private equity firms reached 19.55% as of December 12, with over 90% of these products achieving positive returns [1] - First-tier private equity institutions reported product returns generally exceeding 30%, marking a satisfactory performance for the second consecutive year [1] - The macroeconomic environment in 2026 is expected to be complex, with a significant likelihood of continued price increases for certain assets [1] - Industry experts believe that the operational challenges in 2026 will be greater, emphasizing the importance of in-depth research on specific asset segments, volatility management, and execution discipline compared to the current year [1]