Fund Overview - The fund is named "交银施罗德鸿光一年持有期混合型证券投资基金" and is managed by交银施罗德基金管理有限公司 with a total fund share of 660,648,739.25 at the end of the reporting period [1][2] - The fund aims to achieve long-term stable appreciation of assets while controlling risks and maintaining good liquidity [1][2] - The investment strategy involves a top-down approach for asset allocation and a bottom-up approach for stock and bond selection [1][2] Performance Metrics - The fund's performance benchmark is a combination of the CSI 300 Index (15%), Hang Seng Index (5%), and the China Bond Composite Index (80%) [2][7] - The fund reported a profit of 1,316,283 for the reporting period, with a weighted average return of 4.92% for the year [3][4] - The net asset value at the end of the reporting period was 512,106,600, with a share value of 32.39 [3][4] Market Analysis - In 2024, global capital markets experienced a volatile upward trend, influenced by factors such as the Federal Reserve's interest rate cuts and domestic economic recovery [16][17] - The fund increased its allocation to Hong Kong stocks due to favorable valuation adjustments and increased investment targets [16][17] - The bond market saw a significant decline in interest rates, with the fund adjusting its bond positions to enhance duration and manage risk [17][18] Future Outlook - For 2025, the fund anticipates a further improvement in the stock market environment and plans to increase allocations to growth sectors [19][20] - The macroeconomic environment is expected to be more favorable, with continued support from domestic policies and a potential new product release cycle driven by AI technology [19][20] - The fund will maintain a balanced approach to stock and bond investments, focusing on high-quality stocks in the Hong Kong market [19][20]