Core Viewpoint - The A-share market has shown steady performance since the second half of 2025, with the Shanghai Composite Index surpassing 3500 points for the first time in eight months, indicating a positive market outlook despite existing uncertainties [1]. Market Performance - The June CPI has turned from decline to increase year-on-year, with core CPI continuing to rise, reflecting the gradual effectiveness of policies aimed at boosting consumption [1]. - There are still uncertainties in the market, including differences in global economic recovery and valuation corrections in certain industries, necessitating flexible investment strategies [1]. Fund Performance - The Guotai Multi-Strategy Income Mixed Fund, managed by Hu Zhilei since September 3, 2024, has shown significant performance advantages, achieving a return of 5.39% over the past six months, compared to 2.40% and 1.71% for the medium- and long-term pure bond index and short-term bond fund index, respectively [1][2]. - The fund has a maximum drawdown of only 0.27%, significantly lower than the average maximum drawdown of 11.88% for similar funds [5]. Investment Strategy - The Guotai Multi-Strategy Income Mixed Fund employs a relatively conservative investment strategy, primarily focusing on fixed-income assets to achieve low volatility and small drawdowns [4]. - The fund's current allocation is mainly in medium- to short-duration bonds, with a flexible approach to using interest rate bond strategies and selectively investing in lower-risk convertible bonds to enhance portfolio elasticity [4]. Risk Control - The fund has demonstrated excellent historical risk control metrics, with recent maximum drawdown, Sharpe ratio, annualized volatility, downside risk, and Calmar ratio all significantly outperforming the average of similar funds [5]. - The fund managers, Hu Zhilei and Wang Lin, are both experts in absolute return strategies, with Hu Zhilei specializing in fixed-income investments and Wang Lin combining macro perspectives with stock selection capabilities [5][8]. Conclusion - The Guotai Multi-Strategy Income Mixed Fund is positioned to adapt to both market uptrends and volatility, making it a practical choice for investors seeking balanced returns in a complex market environment [8].