Group 1 - The core viewpoint of the article highlights that Zhudi Holdings (01413) experienced a significant stock price increase, rising over 30% at one point and closing up 26.58% at HKD 0.1, with a trading volume of HKD 6.5205 million [1] - On September 8, Zhudi Holdings announced plans to establish joint ventures on November 22, 2024, and December 13, 2024, to diversify its investment portfolio and capture emerging opportunities in the digital asset sector [1] - The company's board has approved a strategic investment framework, allowing the group to invest up to HKD 4.5 million of its own capital in cryptocurrency through its indirect non-wholly owned subsidiary, Tiankun Digital Limited [1] Group 2 - The investment strategy will employ a mature, Delta-neutral quantitative approach, focusing on capital preservation and robust risk-adjusted returns [1] - The primary objective is to achieve uncorrelated alpha returns and diversify the company's investments, leveraging the expertise of a professional team and a solid multi-layer risk management framework [1] - This strategic investment will solely involve the group's self-funded investments and will not constitute regulated third-party asset management services, thereby avoiding licensing costs and regulatory complexities [1]

Group 1 - The company announced plans to establish joint ventures on November 22, 2024, and December 13, 2024, to diversify its investment portfolio and capture emerging opportunities in the digital asset sector [1] - The board has approved a strategic investment framework, allowing the company to invest up to HKD 4.5 million through its indirect non-wholly owned subsidiary, Tiankun Digital Limited, in cryptocurrency investments [1] - The strategy will employ a mature, delta-neutral quantitative approach focused on capital preservation and robust risk-adjusted returns [1] Group 2 - The core objective is to achieve uncorrelated alpha returns and diversify the company's investments, leveraging the expertise of a professional team and a solid multi-layer risk management framework [1] - This strategic investment will only involve the company's own capital and will not constitute regulated third-party asset management services, thereby avoiding licensing costs and regulatory complexities [1]

Group 1 - The core point of the article highlights that Chudi Holdings (01413) is diversifying its investment portfolio by establishing a joint venture focused on digital assets [1] - On September 5, shareholders transferred shares from Changli Securities to Haitong International Securities, with a market value of 5.21 million HKD, representing 5.57% of the total [1] - The company plans to invest up to 4.5 million HKD of its own capital in cryptocurrency through its indirect non-wholly owned subsidiary, Tiankun Digital Limited, utilizing a Delta-neutral quantitative strategy [1] Group 2 - The board of directors has approved a strategic investment framework to capture emerging opportunities in the digital asset sector [1] - The strategy emphasizes capital preservation and robust risk-adjusted returns [1]

Core Insights - The recent market sentiment has improved, leading to increased investor interest in A-shares and "fixed income +" products due to declining bank deposit rates [1] - Taiping Fund launched a new "fixed income +" product, Taiping Jiayu Bond, managed by fund managers Han Cong and Zhang Ziquan, who have previously collaborated on public fund products [1][2] Investment Strategy - The equity portion of Taiping Jiayu Bond will focus on a quantitative enhancement strategy centered around the CSI A500 index, which offers better stock selection breadth and industry representation compared to the CSI 300 [2] - The fund aims for absolute returns, with Han Cong managing the fixed income part, emphasizing credit safety and liquidity management while maintaining a high credit quality bond portfolio [3] Performance Metrics - As of August 21, the jointly managed Taiping Jiayu Bond has shown strong performance, with returns exceeding 11% since inception and another product managed by Zhang Ziquan achieving over 25% returns this year [2][4] - The collaboration between Han Cong and Zhang Ziquan has resulted in consistent top-tier performance in their previous products, with a focus on shared goals in asset allocation [4] Market Outlook - Both fund managers maintain an optimistic outlook on the A-share market, citing healthy market conditions and increasing retail investor participation [5] - Despite challenges in the bond market, Han Cong believes there are significant capital gain opportunities, especially with potential interest rate declines driven by external factors [5][6] Product Design - The Taiping Jiayu Bond emphasizes "sharpness" and "flexibility," utilizing an open-ended structure with a core focus on quantitative enhancement for equities and enhanced yield flexibility for fixed income [6]

Core Viewpoint - The company plans to establish a joint venture to diversify its investment portfolio and capture emerging opportunities in the digital asset sector, with a strategic investment framework approved by its board [1] Investment Strategy - The company will invest up to 4.5 million HKD of its own capital in cryptocurrency through its indirect non-wholly owned subsidiary, Tiankun Digital Limited [1] - The investment strategy will employ a mature, Delta-neutral quantitative approach, focusing on capital preservation and robust risk-adjusted returns [1] Objectives - The core objective is to achieve uncorrelated alpha returns and diversify the company's investments, leveraging the expertise of its professional team and a solid multi-layer risk management framework [1] - This strategic investment will solely involve the company's own funds and will not constitute regulated third-party asset management services, thereby avoiding licensing costs and regulatory complexities [1]

□本报记者 魏昭宇 近期市场情绪持续回暖，越来越多的投资者关注A股的配置价值。同时，伴随银行存款利率持续走 低，"固收+"产品以其"进可攻退可守"的特性再度成为投资者关注的热门品种。 在此背景下，太平基金于9月1日发行一只"固收＋"产品——太平嘉裕债券。据悉，该产品为混合二级债 基，由基金经理韩聪与张子权共同管理。近期，两位基金经理在接受中国证券报记者采访时表示，这并 非两人第一次共管公募产品。早在2022年，由两位基金经理共同管理的太平嘉和三个月定开产品便已成 立。在太平资产任职时，两人亦搭档共管寿险等绝对收益类产品。 以绝对收益为目标 在权益部分，太平嘉裕债券将主要围绕中证A500指数开展量化增强策略，这部分策略主要由张子权负 责。张子权向中国证券报记者表示，中证A500属于宽基大盘指数，行业分布均衡，相比沪深300具有更 优的选股宽度和行业代表性，更有利于量化策略捕捉超额收益。此外，该指数年化波动率不高，属于相 对稳健的权益基准，符合"固收+"产品对权益部分控制波动、追求稳健增强的定位。 在今年4月底，由张子权管理的太平中证A500指数增强便已开始运作。Wind数据显示，截至8月21日， 该产品成立以来 ...

Group 1 - The core phenomenon in the quantitative fund sector is the recent wave of subscription limits imposed by multiple fund companies, driven by market style changes and the strong performance of quantitative funds [1] - As of September 1, only 14 out of over 500 quantitative funds established for more than a year reported negative returns, with an average return of approximately 52%, highlighting the attractiveness of these funds to investors [1][2] - The focus of quantitative fund companies this year has shifted from scale expansion to risk control and sustainable strategies, with stricter risk exposure management for index-enhanced products [1] Group 2 - The Huatai-PB CSI 2000 Index Enhanced Fund achieved a remarkable return of 104.57% over the past year, significantly outperforming its benchmark return of 31.82%, leading to an increase in the number of holders from 12,200 to 33,700 [2] - Huatai-PB's success in the quantitative field is attributed to its proactive development of short-term quantitative models tailored for small-cap indices, capitalizing on the significant rise of the CSI 2000 Index, which increased by 81.26% [4] - The company has established a clear and structured quantitative product matrix, offering a variety of enhanced products across different market segments, providing investors with diverse investment tools [4] Group 3 - The performance of various Huatai-PB funds demonstrates their ability to consistently exceed benchmark returns, with products like Huatai-PB Quantitative Leading and Huatai-PB Quantitative Selection showing strong stability and sustainability over the past decade [4][5] - In a volatile market, quantitative funds are becoming a crucial choice for investors, as they combine index benchmark returns with the potential for excess returns, representing a disciplined and rational investment approach [5]

近期，上证指数站上了3800点，AI、半导体和光模块等"硬科技"赛道轮番走强，推动科创综指反弹。截 至8月29日，科创综指年内上涨43.30%，在一众科技宽基中表现亮眼，成为市场关注的重点。近日，布 局科创"硬科技"再添高弹性利器，景顺长城科创综指增强（代码：A类024249/C类024250）正在发行， 力争有效跟踪指数的同时，通过量化策略追求更高超额收益。（数据来源：Wind，截至2025/8/29。下 同） 数据显示，科创综指覆盖了科创板所有非ST上市公司，最新样本数量569只，市值覆盖度高达96%，同 时涵盖16个申万一级行业，能全面表征科创板整体表现，也因此具备较大"增强"空间。一方面，指数成 分股较多、行业覆盖广泛，带来较大的选股空间，有利于挖掘未被市场充分定价的机会；另一方面，指 数成分股是20CM涨跌幅限制，波动率高于主板，有利于增强策略挖掘超额收益。 据悉，作为景顺长城在指数增强领域的新作，景顺长城科创综指增强将依托于景顺长城特色量化体系， 利用超额收益模型、风险模型、交易成本模型三大类模型，分别评估资产定价、控制风险和优化交易。 同时为提高模型对行情的适应能力，景顺长城量化团队近年来引入A ...

Group 1 - Wang Hui, the Deputy General Manager of Xinyuan Fund, has transitioned to a Senior Specialist position due to work arrangements [1][2][4] - Wang Hui has been with Xinyuan Fund since its establishment in August 2013, previously serving as Chief Marketing Officer and Assistant General Manager before becoming Deputy General Manager in April 2016 [4][5] - As of the end of Q2 2023, Xinyuan Fund's total asset scale reached 211.78 billion yuan, with over 60% in bond funds and over 30% in money market funds [1][6][9] Group 2 - Xinyuan Fund's asset net value has significantly increased from 89.70 billion yuan in mid-2022 to 211.78 billion yuan by mid-2023, improving its industry ranking from 55th to 36th [7][6] - The fund currently manages 80 products, with 54 bond products totaling 136.81 billion yuan, accounting for 64.60% of the total scale [9][6] - The growth in management scale is primarily driven by the expansion of fixed-income products, with bond fund scale increasing by 76.73 billion yuan and money market fund scale increasing by 44.05 billion yuan since mid-2022 [9][10] Group 3 - In the second half of the year, Xinyuan Fund has launched 9 new funds, including 1 FOF, 3 mixed funds, and 5 index equity funds [10] - The company aims to enhance its passive investment capabilities while consolidating its active management, expanding its product line to include various types of index products and strategies [10] - Xinyuan Fund is also exploring QDII investment tools and alternative asset options to diversify its asset allocation strategy [10]

Core Viewpoint - The A-share equity market is experiencing high-level fluctuations, with the Shanghai Composite Index showing a 0.84% increase this week, indicating a resilient market despite short-term adjustments [3][4]. Group 1: Market Performance - The A-share market remains strong, with the Shanghai Composite Index quickly rebounding after a brief correction near the 3900-point mark [3]. - The domestic equity fund strategy index also recorded gains this week, with low-volatility strategies underperforming in terms of excess returns [3][4]. Group 2: Fund Strategy Insights - The preferred fund strategies are ranked as follows: stock-enhanced strategies > overseas equity strategies > evergreen low-volatility strategies [4]. - The stock-enhanced fund strategy achieved a return of 1.389% this week, while the evergreen low-volatility strategy recorded a return of 1.249% [5]. - The cash-enhanced fund strategy outperformed the benchmark with a return of 0.027%, accumulating a total excess return of 0.481% since its inception [5]. Group 3: Overseas Market Dynamics - The overseas equity allocation fund strategy recorded a return of 0.329% this week, with a focus on the recovery of the U.S. stock market following tariff negotiations and strong earnings reports from tech companies [6]. - The U.S. economy shows no significant signs of recession, and the ongoing technological advancements are expected to drive future growth in the U.S. stock market [6]. Group 4: Fund Composition and Strategy - The evergreen low-volatility fund strategy has demonstrated strong stability and lower volatility compared to the benchmark, making it suitable for risk-averse investors [9]. - The stock-enhanced fund strategy aims to identify funds with strong alpha generation capabilities, which may yield excess returns as market conditions improve [10][21]. - The cash-enhanced fund strategy focuses on selecting high-yield money market funds to optimize short-term cash management [12][22]. - The overseas equity allocation fund strategy utilizes momentum and reversal indicators to select international equity indices for investment, enhancing global diversification [15][23].