Core Viewpoint - The appointment of Yang Fan as the Deputy General Manager and Chief Investment Officer of Huihua Wealth Management is expected to enhance the company's asset allocation capabilities and strengthen its focus on absolute returns in investment strategies [1][4]. Group 1: Company Overview - Huihua Wealth Management is the first Sino-foreign joint venture wealth management company in China, established in September 2020 through a partnership between the largest European asset management firm, Amundi, and Bank of China’s wholly-owned subsidiary [1]. - The company has seen significant growth, with its total assets exceeding 28 billion, representing an over 80% increase since the beginning of the year [1]. Group 2: Investment Strategy - Huihua Wealth Management advocates for global multi-asset allocation and aims to pursue absolute returns, with a new product system called "Global Navigator" set to launch in 2024 [2]. - The company has a dedicated equity research team, and its mixed-asset products have performed well, ranking first in annualized returns among 26 wealth management companies and major commercial banks as of August 15, 2025 [2]. Group 3: Talent Acquisition and Team Structure - The company is expanding its research and investment team by recruiting talents skilled in asset allocation and absolute returns from various sectors, including wealth management, pension funds, and insurance [3]. - The team comprises professionals with both global perspectives and local market knowledge, enhancing the company's investment capabilities [3]. Group 4: Channel Development - Huihua Wealth Management is the first joint venture wealth management company to expand into foreign banks and joint-stock banks, with its products available through multiple channels, including Bank of China and other banks [3]. - The company’s external distribution scale accounts for approximately 20% of its total, showing rapid growth this year [3]. Group 5: Market Context - The recent bullish trend in the A-share market presents opportunities for equity investments, prompting wealth management companies to focus on equity investment as a key growth area [4]. - Yang Fan's expertise in managing pension funds is expected to enhance Huihua Wealth Management's capabilities in managing "fixed income plus" portfolios and deepen its involvement in equity-linked wealth management products [4].