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中欧基金华李成:打造MARS工厂体系,实现多资产3.0进化
Xin Lang Cai Jing· 2025-12-10 06:46
Group 1 - The core viewpoint of the article emphasizes the investment strategies and focus areas for 2026, highlighting the importance of asset allocation, industry selection, and macro risk assessment in a transitioning market environment [1][6] - The 2026 market is identified as being at a critical juncture of cyclical iteration and structural transformation, with insights into technology, cyclical, consumer, and new energy sectors being presented [1][6] - The conference showcased how the company utilizes an industrialized research and investment system to adapt to market changes while maintaining a long-term perspective [1][6] Group 2 - Since its establishment in November 2015, the Zhongou Jintong fund has achieved a cumulative return of over 70%, with the number of holders exceeding 510,000 [2][7] - The success of the Zhongou multi-asset team is attributed to the "MARS Factory" system, which aims to provide predictable, replicable, and explainable investment returns through multi-asset solutions [2][7] - The multi-asset solution addresses three major pain points of traditional models: performance unpredictability, excessive volatility, and style drift, by clarifying product goals and risk budgets [2][7] Group 3 - The "four workshops" concept includes: the design workshop for aligning client risk preferences and liquidity needs; the production workshop for generating strategy components; the assembly workshop for dynamic allocation; and the testing workshop for enhancing risk management [3][8] - The multi-asset team plans to continuously iterate strategies to optimize risk-return characteristics, aiming to provide better multi-dimensional solutions for investors [3][8] Group 4 - The Zhongou Jintong fund has shown a performance increase of 72.81% since inception, significantly outperforming its benchmark of 24.14% [4][9] - Historical performance from 2020 to 2024 indicates varying returns, with notable fluctuations in both the fund and its benchmark [4][9]