他即将掌舵的贝莱德富元金利混合型证券投资基金，正是这一理念的结晶。该产品于1月19日起首发， 产品以量化模型为核心，通过股债协同配置与多重风险控制机制，力求在复杂市场环境中捕捉股债的结 构性机会。 在中期看好中国权益资产表现的情况下，贝莱德富元金利定位为中高波"固收+"产品，不仅将权益仓位 上限提升至30%，更纳入港股通标的，通过一套融合全球经验与本土洞察的量化多资产策略，力求在震 荡市中为投资者提供"拿得住、睡得着、有弹性"的持有体验。 在低利率环境下，投资者既渴望超越理财的收益，又担忧资本市场的剧烈波动。如何在"稳"与"进"之间 找到平衡点？贝莱德基金权益、量化及多资产首席投资官王晓京给出了他的答案——以量化模型为引 擎，结合成熟的风险控制模块，打造一款能"一键配置"股债组合的"固收+"产品。 □本报记者 王雪青 2026开年，随着银行短期大额存单利率进入"0字头"以及权益市场的高景气度，一场关于"固收+"的讨论 悄然升温。 量化模型赋能"股债双+" 过去，传统"固收+"产品多以信用债券打底，用债券票息去买可转债或权益仓位；贝莱德富元添益和本 次新发行的贝莱德富元金利选择另辟蹊径，其核心是一套基于量化的多 ...

Core Viewpoint - The discussion around "fixed income plus" products is gaining traction as banks lower short-term large deposit rates to "0" and equity markets show high vitality, prompting investors to seek a balance between stability and growth [1] Group 1: Product Overview - The BlackRock Fuyuan Jinli Mixed Securities Investment Fund, launching on January 19, aims to create a "one-click allocation" stock-bond combination product driven by quantitative models and robust risk control mechanisms [1][2] - This product is positioned as a medium to high volatility "fixed income plus" offering, with an equity allocation cap raised to 30% and inclusion of Hong Kong Stock Connect targets [1][2] Group 2: Investment Strategy - The fund employs a "quantitative aggregation, dual asset plus" strategy, utilizing quantitative methods for dynamic collaboration between stocks and bonds [2] - The equity side will use an industry rotation model based on multiple signal dimensions, while the bond side will focus on duration and credit rotation strategies [3][4] Group 3: Risk Management - The fund incorporates a down-risk control module to manage volatility and drawdown, ensuring that investors can maintain their positions during market fluctuations [4][5] - The strategy aims to provide a systematic approach to risk management, allowing for disciplined adjustments based on market conditions [5][7] Group 4: Market Outlook - The outlook for 2026 remains optimistic for equity markets, particularly for large and mid-cap stocks, with the potential for the CSI 300 index to reach new highs if supportive policies are enacted [6] - The fund manager expresses caution regarding the bond market, suggesting a neutral stance on credit bonds and low expectations for yield increases [6][7] Group 5: Team Expertise - The fund will be managed by a team with extensive experience in global macro investment and quantitative multi-asset strategies, emphasizing disciplined risk management [7]

Group 1 - The article discusses the characteristics and trends of the fund market, highlighting the growth in assets under management and the diversification of investment strategies [1] - It notes that the total assets of the fund industry have reached a significant milestone, indicating a robust market environment [1] - The report emphasizes the increasing popularity of alternative investments among fund managers, reflecting a shift in investment preferences [1] Group 2 - The article provides insights into the performance of various fund categories, showing that equity funds have outperformed fixed-income funds in recent periods [1] - It mentions the impact of macroeconomic factors on fund performance, including interest rates and inflation, which have influenced investor behavior [1] - The analysis includes a comparison of regional fund performance, indicating that certain markets have shown stronger growth than others [1]