2026年，为什么普通人的投资组合里应该有一份FOF？

Core Viewpoint - The investment landscape is shifting towards a new era characterized by low interest rates, increased market volatility, and the need for a robust asset system to meet long-term financial goals, making Fund of Funds (FOF) a compelling option for investors [1][36]. Group 1: Overabundance of Choices - The number of public funds in the market is projected to exceed 13,000 by the end of 2025, significantly outnumbering A-share listed companies, creating a challenging environment for ordinary investors [1]. - Understanding a fund requires deep analysis of its holdings, strategies, and fund manager movements, which is akin to a full-time job [2]. Group 2: Risk Diversification - FOFs provide dual-layer risk diversification by holding multiple funds that invest in various securities, thus mitigating individual asset risks [10]. - FOFs also diversify strategies and styles, creating a complementary ecosystem that can adapt to changing market conditions, thereby controlling volatility and drawdowns more effectively [11][13]. Group 3: Dynamic Asset Allocation - FOFs act as an automatic driving system for investment portfolios, adjusting asset allocations based on macroeconomic cycles, policy environments, and market valuations [20][24]. - The increasing allocation of public FOFs to QDII, alternative investments, and REITs exemplifies this dynamic asset allocation approach [24]. Group 4: Retirement Planning - By 2026, the personal pension system will be in its third year, emphasizing the importance of long-term wealth accumulation to combat inflation and ensure quality retirement living [27][28]. - Retirement FOFs, particularly those utilizing personal pension accounts, are tailored for this scenario, offering target date funds (TDF) and target risk funds (TRF) that adjust asset allocations over time [30][32]. Group 5: Balancing Stability and Growth - In a low-interest environment, relying solely on fixed-income assets is insufficient for wealth preservation and growth, necessitating a shift towards equity assets [36]. - FOFs offer a middle ground for investors, with options like bond-focused FOFs for conservative investors and balanced or equity-focused FOFs for those willing to take on more risk [38].