中证报中证网讯(记者葛瑶王超)中信期货2025年秋季策略会近日收官。本次策略会以"潮汐涌动.破卷立 新"为主题，采用线上会议的形式举行。 通过7大论坛，中信期货研究所的研究员以多元视角解析市场，多维度深挖投资机遇，针对2025年四季 度及2026年大宗商品、权益、汇率等期货及衍生品领域问题展开深入剖析，助力投资者多维掘金、稳健 布局。 在宏观与贵金属论坛上，中信期货研究所宏观与国际研究部总经理姜婧表示，2025年四季度宏观和大类 资产基调是"稳中求进"，政策与基本面对冲效应使得宏观环境偏"稳"，资产配置策略偏"进"。从国内层 面看，四季度稳增长政策聚焦三大方向：一是5000亿元政策性金融工具，二是货币政策大概率实施降 准，三是"十五五"规划前瞻。从海外维度看，美国经济动能趋疲，但政策"再校准"将提供支撑，未来1- 2个季度，全球宽松流动性与财政杠杆带动的复苏预期，将为风险资产提供支撑。 中信期货研究所宏观研究组资深研究员朱善颖认为，2025年四季度黄金震荡偏强，是长期战略配置窗 口。尽管近两年实际利率与金价相关性降低，但受降息周期重启和美联储独立性风险影响，美国实际利 率下行周期中黄金上涨从未缺席。长期来看， ...

Group 1 - The announcement of senior management changes at Cinda Australia Fund Management Co., with the resignation of General Manager Zhu Yongqiang due to retirement and the appointment of Deputy General Manager Fang Jing as the new General Manager [1] - Cinda Australia Fund, established in June 2006, is the first fund management company in China controlled by a state-owned asset management company, with a management scale of 103.006 billion yuan as of the end of Q2 2025 [1] - The fund's non-monetary fund management scale is 68.111 billion yuan, indicating a significant portion of its assets are in non-monetary investments [1] Group 2 - Cinda Australia Fund has adopted a strategic layout focusing on "equity, fixed income, and quantitative" investments to enhance its competitive edge in the increasingly competitive public fund industry [2] - The company emphasizes talent development and team management, building a multi-dimensional investment research system to create a professional research barrier [2] - In the fixed income sector, risk control is viewed as a core competitive advantage, supported by a systematic and forward-looking risk control framework [2] - The company is actively developing its quantitative investment capabilities, leveraging a "HI+AI" system to establish a differentiated competitive advantage [2]