Group 1 - The core viewpoint of the news is that in a volatile equity market and low interest rate environment, investors are increasingly turning to multi-asset diversified allocations to seek stable returns [1] - Morgan Asset Management is set to launch the Morgan Yingyuan Stable Three-Month Holding Period Mixed FOF on August 4, with subscriptions available through various channels including China Merchants Bank and Morgan Asset Management's official direct sales platform [1] - The new fund aims for long-term stable returns by investing at least 80% of its assets in public funds, with a maximum of 30% in equity assets, while also allowing flexible allocation to public REITs, commodity funds, ODII funds, and Hong Kong mutual recognition funds [1] Group 2 - En Xuehai, Chief Investment Officer of Asset Allocation and Pension Management at Morgan Asset Management, noted that global risk appetite is improving due to ongoing loose monetary and fiscal policies, with expectations of rising inflation in the U.S. in the third quarter [2] - The domestic market is stabilizing, and while asset valuations in China have returned to historical averages, they still present attractive opportunities [2]

Core Viewpoint - The article emphasizes the growing importance of multi-asset allocation strategies in the current volatile equity markets and low interest rate environment, highlighting Morgan Asset Management's expertise in this area [1][2]. Group 1: Investment Strategy - Morgan Asset Management (China) is focusing on multi-asset diversified allocation to meet the demand for stable returns from both institutional and individual investors [1][2]. - The firm has developed globally allocable Fund of Funds (FOF) products and promotes scientific asset allocation concepts through regular professional reports [1][2]. - The investment philosophy is shifting from single product purchases to comprehensive asset management solutions, with FOF and advisory services playing a crucial role [2][3]. Group 2: Team Competence - The ability to manage asset portfolios is evaluated through three dimensions: research capability across asset classes, a robust investment framework, and effective risk management [3]. - Morgan Asset Management's investment framework is based on macroeconomic factors, valuation, technical analysis, and fundamentals, ensuring disciplined decision-making [3][4]. - The firm benefits from a global platform that supports investment decisions through comprehensive research and real-time market insights [4][5]. Group 3: Market Insights - The domestic market is gradually moving towards a more mature understanding of asset management, with a growing awareness of the importance of portfolio diversification [2][4]. - Current market conditions indicate that domestic asset valuations have returned to historical averages but remain relatively inexpensive compared to other global assets [8][9]. - The firm anticipates a neutral to slightly positive risk appetite for the domestic market in the second half of the year, supported by recent policy improvements [8][9]. Group 4: Global Perspective - Morgan Asset Management's global research teams maintain consistent judgment logic across major markets and asset classes, enhancing the accuracy of market assessments [6][7]. - The firm has observed that global risk appetite is improving, with expectations of rising inflation in the U.S. and a cautious approach from the Federal Reserve regarding monetary policy [9].