Core Insights - The FOF (Fund of Funds) market is experiencing a significant recovery, with a notable increase in investor enthusiasm and new fund launches, particularly in October 2025 [1] - The growth in FOFs is primarily driven by the need for multi-asset allocation strategies in a complex macroeconomic environment, rather than just performance in a bull market [1][21] - The leading FOF product, Zhongou Yingxuan Stable, has achieved substantial growth due to its clear positioning and strong risk management capabilities [2][7] FOF Market Trends - In October 2025 alone, four new FOFs raised over 2 billion, and two FOF products surpassed 10 billion in size for the first time in three quarters [1] - As of September 30, 2025, the public FOF market saw an increase of 604 billion, with over 70% of this growth attributed to mixed bond FOFs [1] - Zhongou Yingxuan Stable is highlighted as a representative product, showcasing the demand surge in the FOF sector [1] Performance Metrics - Zhongou Yingxuan Stable has maintained a maximum drawdown of only -0.7% over the past year, significantly better than the average maximum drawdown of -2.8% for similar mixed bond FOFs [2] - The fund has recorded the longest continuous growth period of 11 months, indicating strong performance stability [6] Fund Management and Strategy - Zhongou Yingxuan Stable's rapid growth from 30 million at the beginning of 2024 to over 100 billion by the third quarter of 2025 reflects a positive feedback loop of investor trust and performance [7] - The fund employs a multi-asset investment strategy, incorporating various asset classes such as bonds, equities, and REITs, which enhances its risk management and performance consistency [10][11] Competitive Landscape - As of September 30, 2025, Zhongou Fund has become the industry leader in FOF management scale, surpassing competitors like Xingzheng Lingqiu Fund and Yifangda Fund [8] - The success of Zhongou Yingxuan Stable illustrates the importance of product experience and investor confidence in driving fund inflows [7][21] Future Outlook - The demand for high-quality, stable FOFs is expected to continue, especially in a market characterized by low-risk returns and ongoing economic uncertainty [11][21] - The FOF sector is likely to see further growth as investors increasingly prioritize diversified asset allocation and stable investment experiences over short-term performance [21]