Core Viewpoint - The "low-volatility fixed income+" products have become a core choice for medium to low-risk investors due to their characteristics of "seeking progress while maintaining stability" in a market environment where high-yield assets are scarce and wealth management is fully net worth-based [1][2]. Market Environment - The transition to net worth-based wealth management and the increasing scarcity of high-yield assets have compressed the return space for traditional bank wealth management and pure bond funds [2]. - The volatility in the capital market has made many investors hesitant towards equity assets, making low-volatility "fixed income+" products an ideal bridge between pure bonds and equities [2]. - The bond market is expected to perform well in 2024, providing a favorable operating environment for "fixed income+" strategies, with strict drawdown control attracting significant capital inflows [2][3]. Product Strategy - The "low-volatility fixed income+" product strategy is clearly defined, aiming to maintain low volatility while flexibly responding to market fluctuations to strive for returns [4]. - The product line is designed to fill the gap between pure bonds and stocks, creating various strategy combinations such as low-volatility and balanced types through flexible stock-bond pairing [3][4]. Investment Management - The management of "fixed income+" products requires a combination of macro asset allocation and in-depth research on specific assets, which the company has achieved through a systematic investment research framework and a dual-fund manager decision-making mechanism [6][8]. - The investment process includes a three-tier asset assessment framework: weekly monitoring, monthly asset tracking, and quarterly comprehensive analysis, ensuring professional and timely investment decisions [7]. Performance and Historical Returns - The "low-volatility fixed income+" products have demonstrated strong performance, with the BoShi Stable Return Fund achieving a cumulative return of 97.88% since its inception in 2011, significantly outperforming its benchmark [10]. - The BoShi Stable Value Fund has also shown impressive long-term performance, with a cumulative return of 173.23% since its establishment in 2007, far exceeding the benchmark [10]. - Other low-volatility "fixed income+" products have also performed well, consistently creating value for investors while maintaining strict risk control [11]. Team Expertise - The investment team consists of experienced professionals, many with over 10 years in the securities industry, ensuring a mature investment philosophy and stable operational style [12][13]. - The team employs a collaborative decision-making mechanism, integrating fixed income and equity investments to enhance the performance of low-volatility "fixed income+" products [13].