Core Insights - The article discusses the increasing integration of multi-asset portfolios, represented by FOF and "fixed income +" products, into ETF investments, highlighting their growing importance in wealth management [1][6] - It notes a significant increase in the number of ETFs held by multi-asset portfolios, surpassing 200 by the end of Q3, indicating a trend towards diversified investment strategies [1][2] ETF Investment Trends - Leading ETFs, such as the Huazhong Gold ETF and the Hai Fu Tong Zhong Zheng Short Bond ETF, have seen substantial increases in holdings from multi-asset portfolios, with the former attracting over 1.7 billion yuan in total market value [2] - The number of FOF and "fixed income +" products holding these ETFs has increased significantly compared to Q2, indicating a shift in investment focus [2] Sector Performance - FOF and "fixed income +" products have notably increased their holdings in sectors like securities and chemicals, while reducing exposure to high-performing ETFs in sectors such as technology and rare earths [3][4] - Specific ETFs, such as the Guotai Zhong Zheng All Index Securities Company ETF and the Penghua Zhong Zheng Subdivision Chemical Industry ETF, received over 200 million shares in increased holdings during Q3 [3] Investment Strategy Shifts - The article highlights a trend towards passive investment and diversified asset allocation within FOF products, with a noted decrease in QDII and mutual fund allocations due to market volatility [4] - The demand for stable and diversified investment strategies is driving the expansion of FOF products, which leverage the low fees and high transparency of ETFs [6] Market Landscape - The public fund industry is evolving to include a wide range of investment products, with a focus on index investment tools that offer transparency and low transaction costs [5] - The current market environment presents an opportunity for FOF products to expand their reach and play a more significant role in wealth management [6]

Core Insights - The article highlights the increasing role of Fund of Funds (FOF) and investment advisory services in identifying specialized and differentiated investment products in the current structural market environment [1][6] - There is a notable shift in the investment strategy from selecting "star fund managers" to choosing more transparent and practical quantitative or thematic products [6] FOF and Investment Strategies - FOFs have been actively increasing their allocations to various specialized products, particularly in active equity funds, amidst a backdrop of improved liquidity in the domestic market [1][2] - Notable quantitative products such as Nuon Multi-Strategy C and CITIC Prudential Multi-Strategy C have seen significant interest from FOFs, with over 10 FOFs heavily investing in these funds by the end of Q2 [2][3] - The performance of these funds has been impressive, with Nuon Multi-Strategy C achieving a return rate exceeding 40% since Q2, while others like CITIC Prudential Multi-Strategy C and Guojin Quantitative Multi-Factor C have returns around 20% [2][3] Thematic and Specialized Products - FOFs are also exploring other distinct active stock-picking products across various themes such as Hong Kong stocks, technology, dividends, gold stocks, finance, and real estate [2][3] - The demand for active equity funds is driven by the need for stable excess returns and clear investment logic, with a focus on products that can provide certainty in returns during structural market conditions [3][5] Risk Management and Investment Framework - The investment community is increasingly recognizing the importance of a comprehensive risk-return evaluation system, moving beyond traditional performance metrics to include strategy clarity and market adaptability [5][6] - Multi-asset strategies are seen as advantageous in capturing structural opportunities, allowing for diversified investments across low-correlated assets to optimize risk-return profiles [3][6] Evolution of Investment Preferences - There has been a significant evolution in the preferences of investment advisory services towards active equity funds, emphasizing the selection of strategies over individual fund managers [6] - The focus has shifted from short-term timing and stock selection capabilities of fund managers to utilizing tool-based products for long-term asset allocation [6]

Core Insights - The article emphasizes the importance of utilizing effective trading tools to achieve profitability in a competitive financial market. ZFX Shan Hai Securities offers a variety of powerful trading tools and technical support to help investors identify market opportunities and develop sound trading strategies for asset growth. Group 1: Market Analysis Tools - ZFX Shan Hai Securities provides various technical analysis tools, including moving averages (MA), MACD, RSI, and Bollinger Bands, to help traders capture market fluctuations. For instance, a short-term moving average crossing above a long-term moving average indicates a potential upward trend, suggesting a bullish entry point [3] - The MACD golden cross signals potential upward movement, while the death cross indicates possible downward opportunities. Combining these indicators can assist traders in accurately determining entry points [3] Group 2: Risk Management - Effective risk control is essential for trading success, and ZFX Shan Hai Securities offers automatic stop-loss and take-profit features. Traders can set stop-loss points at 1-2% below the entry price to minimize losses during market reversals [4] - Setting realistic profit targets based on market volatility rather than unrealistic expectations is crucial. The platform's automatic execution features enhance the scientific and disciplined nature of trading [4] Group 3: Automated Trading Strategies - ZFX Shan Hai Securities supports intelligent automated trading (EA systems), which is particularly beneficial for small traders seeking consistent profits. Traders can create or import automated programs that respond quickly to market changes, reducing emotional trading errors [5] - Strategies can be developed based on trend-following or breakout patterns, allowing for automatic opening and closing of positions when conditions are met [5] Group 4: Diversification of Assets - Investors can operate across multiple asset classes, such as forex, precious metals, commodities, and indices, on the ZFX Shan Hai Securities platform. Proper asset allocation can achieve risk diversification and reduce the impact of volatility from single trades [6] - The platform also provides asset correlation analysis tools to help traders adjust their portfolio ratios scientifically, enhancing capital efficiency [6] Group 5: Fundamental Analysis - Combining technical analysis with fundamental data significantly increases the success rate of trades. ZFX Shan Hai Securities offers real-time economic calendars and market news to help traders understand macroeconomic trends [7] - Key events, such as central bank interest rate decisions and non-farm payroll data, can lead to significant market movements. Utilizing the platform's resources for market predictions allows traders to position themselves effectively around critical data releases [7] Group 6: Practice and Strategy Optimization - The availability of free demo accounts on ZFX Shan Hai Securities allows traders to test strategies and hone their skills in a real market environment. Continuous simulation and optimization of trading rules can lead to a mature trading system [8] - This practice enables traders to better manage their positions and indicators, ultimately achieving stable profitability in real trading scenarios [8] Group 7: Trading Discipline and Psychology - While technical tools are essential, strong psychological resilience and discipline are fundamental to profitability. Traders should adhere to their trading plans and avoid impulsive decisions during volatile market conditions [9] - Utilizing ZFX Shan Hai Securities' risk monitoring and psychological support resources can enhance self-control, which is vital for achieving long-term profitability [9]