Group 1: Core Concepts of Fund Investment - Selecting funds is the first step in investment and is crucial for determining returns. Beginners often fall into the trap of "buying high and selling low" or blindly following popular funds, which can lead to unsatisfactory results. The core of fund selection is to assess the balance between risk and return, focusing on four key indicators [1][2][3][4]. Group 2: Key Indicators for Fund Selection - The historical performance of the fund manager is essential, with a focus on long-term returns over 3 to 5 years rather than short-term rankings. A fund manager with a 5-year annualized return of 15% and lower drawdowns during market declines indicates a stable investment style suitable for long-term holding [3]. - The fund's establishment time and rating are important; funds established for over a year with ratings above three stars (e.g., Morningstar rating) are preferable. A fund with a 5-year history and a five-star rating is generally more reliable than newly established funds [4]. - Maximum drawdown reflects the fund's decline from its historical peak to its lowest point, serving as a key risk measure. Beginners should aim for funds with a maximum drawdown below 15%, especially in equity funds, as drawdown control directly impacts the holding experience [5]. - Standard deviation measures the volatility of the fund's net value. A lower standard deviation indicates more stable returns. For instance, if two funds have the same annualized return of 10%, but one has a standard deviation of 15% and the other 10%, the latter is preferable for reducing holding anxiety [6]. Group 3: Fund Purchase Strategies - A one-time purchase is suitable for low-risk funds such as money market and bond funds, which have lower risk and smaller return fluctuations. Investors can use idle funds to invest in money market funds for better returns than savings accounts, while bond funds can be part of long-term asset allocation [9]. - Dollar-cost averaging (DCA) is an effective strategy for stock and index funds, allowing investors to spread their purchases over time to reduce timing risk. For example, investing a fixed amount monthly in an index fund helps lower the average cost during market fluctuations [10]. - Smart DCA adjusts investment amounts based on market conditions, such as using moving averages to determine when to increase or decrease investments. This method can enhance returns by accumulating more shares at lower prices and reducing investments at higher prices [11]. Group 4: Fund Selling Strategies - Setting a target return for selling is a straightforward method. For instance, if an investor aims for a 10% return, they should sell when the fund's net value reaches that target. This method is simple and suitable for risk-averse investors, but care should be taken to avoid setting unrealistic targets [14]. - Selling at resistance levels involves analyzing fund charts to identify recent highs. If the fund's net value approaches a resistance level and shows signs of decline, it may be prudent to sell [15]. - For index funds, monitoring the price-to-earnings (PE) ratio can indicate overvaluation. If the PE ratio is significantly above historical averages, it may be time to consider selling to avoid potential corrections [16]. Group 5: Overall Investment Philosophy - Successful fund investment requires a methodical approach focusing on selection, purchase, and sale. Investors should prioritize fund manager performance, fund age, drawdown, and standard deviation when selecting funds, choose appropriate buying strategies based on risk tolerance, and establish clear selling criteria [17].

Core Insights - Investment is not just about numerical growth but also involves long-term experiences and psychological feelings [1] Group 1: Factors Influencing Investment Experience - 华夏基金 identified 16 "perception factors" that contribute to investment experience, including not only returns but also behavioral gains, downside volatility, expected return realization rates, dividend rates, and fees [2] - Research indicates that index fund and asset allocation investors tend to have a better sense of gain [3] Group 2: Strategies to Enhance Investment Experience - Regular investment (dollar-cost averaging) combined with dynamic rebalancing can enhance perceived gains by reducing timing difficulties and averaging down costs [3][4] - Implementing "smart dollar-cost averaging" strategies, such as adding extra investments during market downturns or adjusting based on valuation metrics, can further improve investment experience [5] Group 3: Core-Satellite Investment Strategy - A core-satellite strategy allows investors to balance risk and return by allocating a majority of funds to conservative, broad-based ETFs for stability, while a smaller portion can be allocated to more aggressive, growth-oriented ETFs [6][7] Group 4: Focus on Dividends and Low Fees - Emphasizing high dividend and cash flow strategies can provide a sense of security and satisfaction in uncertain markets [9] - Choosing low-fee products can significantly reduce costs over time, enhancing overall returns [11][12] Group 5: Long-Term Perspective - Adopting a long-term view helps investors avoid emotional reactions to short-term market fluctuations, focusing instead on overall performance [13][14] - Future expectations should guide investment decisions rather than past performance, allowing for more strategic holding or selling decisions [15] Group 6: Continuous Learning and Adaptation - Viewing the investment process as a learning opportunity can enhance cognitive abilities and decision-making skills, rather than focusing solely on monetary returns [16] - Developing a personal investment style that aligns with individual preferences and risk tolerance can lead to a more fulfilling investment experience [16] Group 7: Overall Investment Philosophy - ETF investment requires both strategy and discipline, akin to tending a garden, where the process itself can yield satisfaction beyond just financial returns [18]

Core Viewpoint - The article discusses the phenomenon of "earning the index but not making money," highlighting the structural divergence in the market where overall indices may rise while specific sectors or funds lag behind [3][4]. Group 1: Market Dynamics - The market has experienced a structural divergence, where the overall index may rise, but specific sectors or funds may not perform similarly, leading to a situation where investors feel they are not benefiting despite market gains [3]. - Even with a market rebound, those who bought at high points (e.g., late 2020 or early 2021) may find that the current rebound is insufficient to cover their previous losses [4]. - Fund managers may temporarily underperform due to their investment strategies not aligning with current market trends, which does not necessarily indicate a failure of their strategies [5]. Group 2: Investment Strategies - Investors are encouraged to understand their holdings, the reasons for underperformance, and the reliability of the fund manager's logic before making decisions [8]. - If the long-term logic remains sound, such as trends in Chinese consumption upgrades or technological innovation, current downturns may be viewed as valuation corrections rather than fundamental failures [8]. - For those who bought at high points, a longer recovery period is expected, and strategies like dollar-cost averaging through regular investments can help mitigate losses [8]. Group 3: Actionable Steps - The article suggests three steps to overcome the challenge of "earning the index but not making money," emphasizing the importance of understanding one's investments and the market context [6]. - It highlights the use of intelligent investment tools, such as the "Smart Investment" feature in the app, which aids in managing investments more effectively by optimizing buying and selling strategies [10]. - The article advocates for a disciplined approach to investing, focusing on long-term value and resisting the urge to sell during downturns [14]. Group 4: Mindset and Patience - Investors are reminded that investment is a long-term endeavor, requiring patience and discipline to navigate market fluctuations [14]. - It emphasizes the importance of focusing on individual investment logic and plans rather than comparing oneself to others, as each investor's situation is unique [15]. - The article concludes with a message of resilience, suggesting that current struggles may ultimately strengthen an investor's ability to face future market challenges [15].

Core Insights - The event "Shenzhen Stock Exchange ETF Lecture Hall" focused on the new trends in ETF regular investment strategies, attracting nearly 300 participants from financial institutions and investors in Jiangsu Province [1] - The Shenzhen Stock Exchange plans to continue promoting core ETF single product and combination investment strategies, aiming to enhance investor experience and support the high-quality development of the ETF market [1][4] ETF Market Overview - As of June 30, 2025, the total scale of ETFs in the Shenzhen market has exceeded 1.1 trillion yuan, with over 70 new ETF products launched in the year, covering various categories such as broad-based indices and industry themes [2] - ETFs have become an important choice for investors in asset allocation due to their efficiency, transparency, and low cost [2] Investment Strategies - The Shenzhen Stock Exchange has introduced scenario-based investment strategies to help individual investors achieve stable long-term returns, focusing on various life scenarios such as retirement and education [3] - A total of eight investment strategies have been developed, catering to different risk preferences and investment scenarios, including single product and combination strategies based on core broad-based ETFs [3] Educational Initiatives - The "Check-in Investment" nationwide educational campaign has seen over 16.5 million participants since its launch on May 15, promoting the concept of regular investment [3] - The Shenzhen Stock Exchange aims to continue collaborating with industry organizations to conduct diverse educational activities, enhancing the understanding of ETF regular investment among ordinary investors [4] Intelligent Investment Strategies - Intelligent investment strategies have gained consensus in the industry, with various institutions showcasing unique approaches to regular investment strategies [5] - Strategies such as "low investment at high points and high investment at low points" have been proposed, demonstrating significant returns compared to traditional investment methods [5][6] - The use of indicators like PB and PE ratios to adjust investment amounts dynamically has been highlighted as a way to optimize returns and manage risks [6]

Core Viewpoint - The article emphasizes the growing interest in ETF (Exchange-Traded Fund) systematic investment strategies among investors, highlighting the importance of educating investors on the benefits and strategies of ETF investments [3][11]. Group 1: ETF Market and Investment Strategies - The Shenzhen Stock Exchange (SZSE) has launched a series of educational activities focused on ETF systematic investment, aiming to promote rational, value-based, and long-term investment philosophies among investors [3][11]. - ETF products are recognized as efficient, transparent, and low-cost tools for asset allocation, with increasing demand from investors in economically active regions like Jiangsu [5]. - The SZSE has introduced scenario-based systematic investment strategies tailored to individual investor needs, covering various life scenarios such as retirement and education [6]. Group 2: Practical Investment Techniques - The article discusses the concept of "time for space" in systematic investment, which helps investors avoid emotional decision-making and manage market volatility [8]. - Intelligent systematic investment strategies can effectively reduce costs and diversify risks, enhancing long-term investment success [8]. - Combination systematic investment strategies allow investors to balance exposure across different markets and styles, making it easier for ordinary investors to participate without timing the market [8]. Group 3: Educational Initiatives and Future Plans - The SZSE plans to continue its nationwide educational initiatives to deepen investor understanding of ETF products and systematic investment strategies [11][12]. - The total scale of ETFs in the Shenzhen market has surpassed 1.1 trillion yuan, with over 70 new ETF products launched in the year, providing diverse investment opportunities [11]. - Future efforts will include the release of case studies and educational videos to promote ETF systematic investment knowledge and tools [12].

Group 1 - The core viewpoint of the article emphasizes the advantages of fund regular investment (定投) over one-time investments, highlighting its simplicity, time-saving nature, and risk diversification benefits, which attract many investors [1] Group 2 - The article discusses two types of regular investment methods: "ordinary regular investment" and "smart regular investment" [2] Group 3 - Ordinary regular investment allows clients to set up a fixed amount for periodic fund purchases, requiring attention to the frequency of investment (daily, weekly, monthly) and the investment amount based on personal financial capacity [3][4] Group 4 - Smart regular investment involves clients setting up periodic but variable fund purchases, utilizing rules to help determine reasonable investment amounts and avoid pitfalls, including strategies like cost price regular investment [5][6]

Group 1: Core Perspective - Velos Markets positions itself as a comprehensive online financial trading platform offering a wide range of financial products including forex, CFDs, cryptocurrencies, and stock indices, catering to both novice and experienced traders [1][24] Group 2: Core Functionality Breakdown - Forex trading services include major currency pairs with leverage options and real-time market analysis, featuring a smart risk control system for beginners and customized leverage for professional traders [2] - CFDs are a key product, covering commodities, indices, and stocks, with a simulator to help new users understand trading logic while allowing experienced users to leverage high-risk features for greater returns [4] - Cryptocurrency trading supports major coins like Bitcoin and Ethereum, with security measures akin to a digital asset vault, and offers strategies for long-term holders to mitigate risks [5] - Stock index trading allows users to engage with major global indices without needing multiple accounts, with tailored index baskets and arbitrage tools available for institutional investors [6] Group 3: User Adaptability Analysis - New user-friendly features include smart investment plans, free market analysis reports, and a simulated trading environment to practice strategies without financial risk [7][8][9] - Professional trader tools include advanced chart analysis, algorithmic trading interfaces, and institutional-level liquidity to facilitate large order executions [10][11][12] Group 4: Market Competitiveness Assessment - Core advantages include a diverse asset coverage reducing account management costs, a robust risk control system for beginners, and extensive educational resources appealing to career changers [14][15] - Potential limitations involve a limited selection of cryptocurrencies compared to specialized platforms and varying regulatory protections across different regions [16][17] Group 5: Investment Strategy Recommendations - Conservative investors may consider a combination of regular investments in indices and low-volatility currency pairs for risk management [18][19] - Aggressive traders could explore cross-border arbitrage opportunities and leverage strategies in high liquidity currency pairs [20] - Institutional users can benefit from customized index baskets and algorithmic trading for high-frequency arbitrage [21][22] Group 6: Conclusion - Velos Markets serves as a versatile platform for both novice and professional traders, offering low entry barriers and educational resources for beginners, while providing extensive operational flexibility for experienced traders, making it a preferred choice for cross-border investment and diversified asset allocation [23][24]