复合策略是指管理人同时使用两种甚至多种投资策略的组合进行投资，以期达到降低风险、平稳收益的目标。管理人从子策略角度出发，评估子策略的表 现、之间相关性、子策略占比等，力争使得复合策略获得1+1大于2的效果。与单一策略相比，复合策略在平滑波动、增强收益、扩大规模方面都有较显 著的优势。 私募排排网显示，截至2025年12月12日，有今年来业绩展示的复合策略产品共有428只，数量仅次于量化多头策略和主观多头策略。从业绩层面来看，在 16个二级策略中，复合策略今年来平均收益为26.52%，位列第5。 | 二级策略 | 有今年来业绩展示的产品数 | 今年来平均收益 | | --- | --- | --- | | 曹帆亲杀 | 913 | 39.07% | | 主观多头 | 2262 | 35.33% | | 主观CTA | 197 | 28.84% | | 其他衍生品策略 | 17 | 28.78% | | 复合策略 | 428 | 26.52% | | 宏观策略 | 254 | 24.74% | | 转债交易策略 | 129 | 19.61% | | 量化CTA | 413 | 19.50% | | FOF | 1 ...

Group 1 - The article discusses various global investment strategies, specifically focusing on Northern Trust's dividend ETFs [1] - The author has a strong background in finance, with expertise in corporate finance, M&A, and investment analysis, particularly in real estate and renewable energy sectors [1] Group 2 - The article emphasizes the importance of informed decision-making in investment, aiming to empower readers through shared insights and analysis [1]

Core Viewpoint - The recent issuance of the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions" aims to enhance transparency and accountability in the disclosure of asset management products, addressing issues related to the incomprehensibility and inaccessibility of product returns [1][3]. Group 1: Key Changes in the New Regulations - The new regulations require that professional institutions providing audit and legal opinions for asset management product disclosures must act diligently, ensuring no false records or misleading statements are made [4]. - Asset management products that involve investor meetings or beneficiary assemblies must disclose the procedures and rules for convening, deliberating, and voting in their product documentation [4][5]. - The requirement to disclose performance benchmarks for asset management products has been modified; public products must disclose past performance alongside their establishment date, especially if they have been established for less than a month [5]. - Non-cash management products must disclose net asset values and performance during the reporting period, while cash management products must disclose annualized returns [5][6]. - Cash management products must report their net income per ten thousand units and seven-day annualized yield within two working days after each open day, with specific rules for products established for less than seven days [6]. - The regulations now require disclosure of significant risks related to individual assets that constitute 10% or more of the product's holdings, such as bond defaults or stock suspensions [7]. - For non-standardized assets classified as non-performing, temporary disclosures are not required, but relevant information must be included in quarterly, semi-annual, and annual reports [8]. - The new regulations mandate that liquidation reports include details such as the product's duration, termination date, asset disposal, and remaining asset distribution [9]. - Information disclosure must be consistent and fair to all investors, with specific measures encouraged for elderly investors to enhance their experience in accessing information [10]. - Self-regulatory organizations like the China Trust Industry Association and the China Banking and Insurance Asset Management Association are tasked with establishing and managing disclosure norms for various asset management products [11].

Strategists at BlackRock (NYSE:BLK), Amanda Lynam and Dominique Bly, reportedly project that the Federal Reserve will implement relatively modest interest rate reductions in 2026, contingent on no significant weakening in employment conditions. This assessment aligns with recent U.S. employment indicators showing gradual cooling without a severe slump.The unemployment rate climbed to 4.6% in November 2025—the peak since 2021—partly due to expanded labor force participation and reductions in federal governme ...

Core Viewpoint - The Financial Regulatory Bureau has issued the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions" to standardize information disclosure for asset management trust products, wealth management products, and insurance asset management products, enhancing investor rights protection [2][3]. Group 1: Regulatory Framework - The new measures aim to unify the information disclosure standards across the three types of asset management products, addressing the lack of a dedicated disclosure system and inconsistencies in existing regulations [3]. - The official implementation date for the new measures is set for September 1, 2026, allowing an approximately 8-month transition period for institutions to adjust [2]. Group 2: Disclosure Requirements - The measures require comprehensive regulation of the information disclosure process throughout the product lifecycle, including fundraising, ongoing management, and termination phases, ensuring clarity on product performance and risks [4]. - Specific prohibitions include false records, misleading statements, and predictions of actual investment performance, ensuring that disclosures are accurate and reliable [4][5]. Group 3: Differentiation in Disclosure - The measures differentiate between public and private products, imposing stricter disclosure requirements on public products due to their broader audience and lower investor knowledge levels [6]. - A "1+3" disclosure system will be established, where self-regulatory norms will be developed for each product type, ensuring tailored regulations that respect the unique characteristics of each product [7]. Group 4: Performance Benchmarking - Asset management products must disclose performance benchmarks, including the rationale for their selection and calculation methods, while clearly stating that benchmarks do not represent expected returns [8]. - Adjustments to performance benchmarks are generally not allowed without strict internal approval, and any changes must be disclosed in regular reports [8].

Core Insights - Wealthy families are establishing offices to manage their wealth at an unprecedented rate, indicating a growing trend in family office formation [1] - These family offices are increasingly participating in significant investment deals, suggesting a shift in their role within the financial landscape [1] Group 1 - The number of family offices is rising sharply, reflecting a record pace of establishment [1] - Wealthy families are gaining influence and a more prominent role in major financial transactions [1]

Core Insights - The article highlights the early adoption of AI in finance by Miro Mitev, who recognized the potential of neural networks for financial forecasting as early as 1997 [1][2] - Mitev founded SmartWealth Asset Management, which operates entirely on AI systems, with its latest fund, IVAC, targeting $2 billion in assets under management and aiming for annualized returns of 14-15% [2] Company Overview - SmartWealth Asset Management is a firm that relies solely on AI for decision-making, indicating a significant shift in asset management practices [2] - The firm’s latest fund, IVAC, is positioned to attract substantial capital, reflecting confidence in AI-driven investment strategies [2] Industry Implications - The reliance on AI in financial forecasting suggests a transformative trend in the investment industry, where traditional human decision-making is being supplemented or replaced by advanced algorithms [1][3] - Mitev emphasizes the importance of human involvement in the AI process, particularly in selecting training data and model parameters, which indicates a hybrid approach to AI implementation in finance [3]

BlackRock’s (NYSE: BLK) latest global outlook makes one thing clear: crypto is no longer being treated as a speculative side bet, but as infrastructure quietly reshaping how money moves. In its 2026 outlook, the world’s largest asset manager describes digital assets, especially stablecoins, as infrastructure underpinning payments and settlement - effectively the financial system’s plumbing. Instead of focusing on price action or hype cycles, BlackRock’s framing centers on function. The firm argues that ...

Group 1 - Emerging markets have experienced a significant surge in 2025, with the MSCI Emerging Markets Index increasing approximately 30% since the start of the year, reaching record highs [1] - Greece's Athens Composite index has seen a nearly 44% increase over the year and is expected to be promoted to developed market status in September 2026 [2] - Fund managers at Ninety One expressed optimism about further growth in emerging markets in 2026, supported by the performance of various sectors [2] Group 2 - The weakening of the U.S. dollar has positively impacted emerging economies by lowering the cost of dollar-denominated debt, which can enhance investment inflows [3] - JP Morgan's Head of Global and European Equity Strategy predicts a second year of outperformance for emerging markets in 2026, driven by appealing valuations, currency movements, and economic growth patterns [4] - The combination of a weaker U.S. dollar, attractive valuations, and economic growth trajectories is setting the stage for continued upward trends in emerging markets [5]

Group 1 - Strive Asset Management, LLC (NASDAQ:ASST) experienced a price surge of 7.03% on Wednesday, closing at $0.8620, as investors increased their positions following a failure to meet exchange listing requirements [1][4] - The company has been trading below the $1 minimum bid price for 10 consecutive days since December 11, 2025, which raises concerns about potential delisting from the Nasdaq [2] - Strive announced an increase in its annual dividend rate for preferred stockholders to 12.25% from 12%, with monthly payments starting in January 2026 [2][3] Group 2 - The first round of dividends, amounting to $1.0208 per share, will be payable on January 15, 2026, to preferred shareholders recorded as of January 1, 2026 [3] - Strive Asset Management holds approximately 7,525 Bitcoins as of November 7, 2025, positioning itself as a Bitcoin treasury company [4]