基金投顾产品月报系列（21）：基金投顾产品8月调仓一览-20250902

• The report discusses the performance of different types of fund advisory products in August 2025, categorizing them into pure bond, fixed income plus, mixed equity and bond, and equity fund advisory products[3][11][17] - The average absolute returns for pure bond, fixed income plus, mixed equity and bond, and equity fund advisory products in August were 0.14%, 1.34%, 4.48%, and 8.80% respectively[3][11][17] - The report further breaks down equity fund advisory products into QDII, industry theme, and general equity types, with general equity types further divided into macro-driven, industry rotation, index-driven, and active selection strategies[11][17] - In August, the industry rotation type of equity fund advisory products had the highest returns among the different strategies, with absolute returns of 10.07%[16] - The report provides detailed performance data for top-performing fund advisory products in 2025, including "All-weather Active Portfolio" and "Anxin Aggressive 90" for equity fund advisory products, "Peach and Plum Silent" and "Anxin Balanced Selection" for mixed equity and bond fund advisory products, "Guotai Idle Money Steady Walk" and "Guotai Idle Money Steady Walk" for fixed income plus fund advisory products, and "Guotai Steady Finance" and "Lazy Cat Global Steady" for pure bond fund advisory products[23][24][26][27] - The report analyzes the rebalancing behavior of fund advisory products in August 2025, noting that 106 fund advisory products underwent rebalancing, with specific changes in bond and equity asset allocations[28][29][30][31] - For bond assets, pure bond fund advisory products increased holdings in fixed income plus funds, USD bond funds, and passive index bond funds, while reducing holdings in credit bond coupon strategies[30][31] - For equity assets, mixed equity and bond fund advisory products increased holdings in fixed income plus funds and reduced holdings in bond funds, while equity fund advisory products saw internal migration within equity funds[35][36] - The report highlights changes in industry allocation, with fund advisory products increasing allocations to the electronics and non-ferrous metals industries and reducing allocations to the banking industry[38][39] - The report also examines style allocation, noting a decrease in the proportion of dividend funds and a slight increase in the proportion of micro-cap stocks in the underlying assets of equity fund advisory products[41][43][46][48] - The report discusses the allocation to popular sectors, noting a slight increase in the proportion of ChiNext and STAR Market stocks and a decrease in the proportion of Hong Kong stocks in August[48][51][53][54] - The report analyzes the rebalancing behavior of QDII and macro-driven fund advisory products, noting an increase in global equity funds and a decrease in US equity funds in August[55][56][61]