绝对收益产品及策略周报（250811-250815） [Table_Authors] 郑雅斌(分析师) 上周 412 只固收+基金创新高 本报告导读： 股票端采用小盘成长组合+不择时的股债 10/90 和 20/80 月度再平衡策略，2025 年累 计收益分别为 5.93%和 11.15%。 投资要点： 金 融 工 程 周 报 固收+产品业绩跟踪。截至 2025 年 08 月 15 日，全市场固收+基金 规模 17846.62 亿元，产品数量 1177 只，其中 412 只上周净值创历 史新高。上周（20250811-20250815，下同）共新发 2 只产品，各类 型基金业绩中位数表现分化：混合债券型一级（-0.07%）、二级 （0.17%）、偏债混合型（0.33%）、灵活配置型（0.15%）、债券型 FOF（-0.07%）及混合型 FOF（0.26%）。按风险等级划分，保守型、 稳健型、激进型基金中位数收益分别为-0.03%、0.16%、0.37%。 大类资产配置和行业 ETF 轮动策略跟踪。1）大类资产择时观点。 2025Q3 逆周期配置模型给出的宏观环境预测结果为 Inflation，8 月 以来沪深 ...

Group 1 - The median return of conservative fixed income + products was 0.09% for the week of June 16-20, 2025, with 294 products reaching historical net value highs [2][20] - The total market size of fixed income + funds reached 1,692.127 billion, with 1,173 products available as of June 20, 2025 [2][10] - The performance of various fund types showed divergence, with median returns for mixed bond type funds being 0.10% for level one and -0.02% for level two [2][12] Group 2 - The macro environment forecast for Q2 2025 indicates inflation, with the Shanghai and Shenzhen 300 index, the China government bond index, and gold showing respective increases of 0.17%, 0.71%, and 1.28% since June [2][3] - The recommended industry ETFs for June 2025 include those focused on securities companies, semiconductors, banks, and major consumer sectors, achieving a combined return of 0.21% for the week [2][3] Group 3 - The stock-bond mixed strategy showed a return of 0.03% for the 20/80 rebalancing strategy, while the risk parity strategy yielded a return of 0.15% [3][3] - The small-cap value style within the stock-bond 20/80 combination performed best with a year-to-date return of 5.17% [3][3] - The cumulative return for the small-cap value combination, adjusted for macro momentum, was 2.55% [3][3]