Core Viewpoint - The FOF (Fund of Funds) market is experiencing a significant surge in issuance, with a focus on bond-oriented strategies, reflecting a strong demand for stable returns and diversified asset allocation [1][5][8]. Group 1: FOF Issuance Trends - Four FOFs were established on November 25, continuing a trend of high issuance throughout the month, with many new products achieving impressive initial fundraising results [2][3]. - The number of FOFs with a scale exceeding 1 billion yuan has reached approximately 50 this year, with 23 of them exceeding 10 billion yuan and 4 surpassing 50 billion yuan [6]. - The total fundraising scale of newly issued FOFs has exceeded 70 billion yuan this year, significantly surpassing the total for the previous year [6]. Group 2: Characteristics of Recent FOFs - The recent FOFs are primarily bond-mixed types, with notable fundraising achievements in a short period, such as the Tianhong Yingyue Stable Allocation FOF raising 11.34 billion yuan in just 5 days [3][4]. - Several products ended their fundraising early due to high demand, indicating strong investor interest in stable allocation FOFs [4]. Group 3: Market Dynamics and Investor Behavior - The public fund industry is entering a "stable allocation" era, with FOFs being perceived as more suitable for current market sentiments due to their risk diversification and professional management [8]. - FOFs are characterized by their high standardization and ease of understanding, making them suitable for individual investors looking to allocate assets [8]. - Institutional demand for long-duration, balanced allocation strategies is driving the popularity of FOFs, as they naturally align with the need for diversified and professionally managed investments [8].

Core Viewpoint - The FOF (Fund of Funds) market is experiencing a significant surge in issuance, characterized by rapid fundraising and a strong demand for stable asset allocation strategies [2][5][6]. Group 1: FOF Issuance Trends - In November, the issuance of FOF products accelerated, with multiple funds being established on the same day, indicating a concentrated formation trend [1][2]. - On November 25, four FOFs were launched simultaneously, achieving substantial initial fundraising results within short periods, showcasing the popularity of debt-oriented strategies [3][4]. - The total number of FOFs established this year with a scale exceeding 1 billion yuan has reached approximately 50, with 23 exceeding 10 billion yuan and 4 surpassing 50 billion yuan [5]. Group 2: Market Dynamics - The FOF market is described as entering a "big year" for issuance, with total fundraising exceeding 700 billion yuan, significantly surpassing the total for the previous year [5]. - The demand for stable returns and diversified asset allocation is driving the popularity of FOFs, which are seen as a favorable investment option in the current market environment [6]. - Factors contributing to the rise in FOF issuance include a shift towards stable asset allocation in the public fund industry, the appeal of FOFs to individual investors due to their standardized and easily understandable nature, and the increasing allocation of institutional funds towards FOFs [6].

Group 1 - The fund is named "Oriental Red Xin Heng Stable Allocation 3-Month Holding Period Mixed Fund of Funds (FOF)" and has been approved for registration by the China Securities Regulatory Commission (CSRC) [1][13] - The fund has a minimum fundraising amount of 200 million units and a minimum fundraising amount of 200 million RMB, excluding interest [19] - The fund will be open for subscription from November 10, 2025, to November 21, 2025, and the fundraising period may be extended or shortened based on actual conditions, not exceeding three months [22] Group 2 - The fund is a mixed fund of funds with a three-month lock-up period for each fund share, during which no redemption or transfer is allowed [14][17] - The fund offers two classes of shares: Class A and Class C, with different fee structures for subscription and service fees [4][27] - The fund's investment objective is to achieve long-term stable appreciation of net assets through a prudent investment style [17] Group 3 - The fund's management company is Shanghai Oriental Securities Asset Management Co., Ltd., and the custodian is Ningbo Bank Co., Ltd. [4][51] - The fund is available for individual investors, institutional investors, qualified foreign investors, and other investors permitted by laws and regulations [18] - The fund's sales channels include direct sales through the management company's center and online trading systems, as well as various distribution agencies [20][53]