基金配置策略报告（2025年10月期）：重磅会议将至，多元配置应对风格切换-20251021

Group 1 - The report highlights that the equity market continued its upward trend in September 2025, although the growth rate was lower than in August, with a notable structural market characterized by strong performance in technology growth sectors [3][11] - In the bond market, September saw continued fluctuations, with a stronger equity market putting pressure on bond prices. The report notes that the bond market experienced volatility due to various factors, including changes in government policy and market sentiment [12][26] - The report emphasizes the importance of multi-dimensional asset allocation strategies to navigate market style shifts, suggesting that cyclical sectors may benefit from supportive economic policies, while funds may flow to other technology innovation areas if growth in AI-related sectors slows down [4][18] Group 2 - The report provides insights into the performance of various fund indices, indicating that active equity funds showed significant returns, with the Wande Active Equity Fund Index rising by 6.67% in September [13][14] - The report outlines the construction of preferred indices for active equity funds, focusing on sectors with high short-term prosperity and emphasizing the need for a balanced approach to fund selection based on performance and stability [21][22] - The report discusses the outlook for bond funds, suggesting that the bond market is likely to continue its oscillation, with adjustments made to the composition of bond fund indices to enhance returns through strategic selection of credit bonds [5][26]