布局"固收+"及权益类产品 证券时报记者刘艺文 利率持续下行叠加市场波动加剧，券商资管如何调整产品布局、优化投研体系等，成为业界关注的核心 议题。 近日，在"第十九届深圳国际金融博览会暨2025中国金融机构年会"分论坛"2025中国证券业资产管理高 峰论坛"上，东北证券首席财富官、东证融汇总经理王钟，国证资管副总经理文庆能，华源证券资管业 务发展部总经理唐吟波，平安证券资产管理事业部副总经理黄杰等嘉宾就"低利率背景下券商资管产品 布局策略演进"展开了一场圆桌讨论。本次圆桌讨论的主持人，由中金公司资产管理部执行总经理孙坤 乾担任。 发挥券商"固收+"业务优势 "固收+"已成为券商资管应对低利率环境的核心发力点，参与本次圆桌讨论的嘉宾对此也给予了较多的 关注。 自去年"9·24"行情以来，权益与固收市场都出现了较大波动，券商资管如何调整产品策略以应对市场变 化？ "公司坚持事前布局而非临时性调整，三年前便在固收打底的基础上积极布局'固收+'及权益类产品，成 功把握住了'9·24'行情以来的机遇。"王钟表示，面对今年固收市场的不利环境与权益市场的持续行情， 公司进一步加大了多资产、全天候策略布局，在"固收+"产品中 ...

Core Insights - The conference emphasized the importance of multi-asset and multi-strategy investments for sustained profitability [1] - Valuation is crucial in investment decisions, with the A-share market showing structural performance and significant value gaps [1] - The PE ratio of the CSI 300 is at 12.5, compared to the S&P 500's PE of 23, indicating potential for growth [1] - Identifying performance and momentum factors is essential for investment success [1] - Risk allocation should be based on risk tolerance and the time available for disposable assets [1] Group 1 - The conference highlighted the need for diverse investment strategies to achieve consistent returns [1] - The speaker pointed out that all assets fluctuate around their value, making valuation a key consideration [1] - There are many undervalued opportunities in the Chinese market, particularly within the A-share market [1] Group 2 - The speaker suggested that patience is more important than intelligence in investing, as it allows for profit across various assets [2] - For short-term disposable assets (3 to 6 months), low-volatility investments with slow growth are recommended [1]