Core Viewpoint - The article emphasizes that "fixed income +" products do not necessarily have larger drawdowns compared to pure bond products, highlighting the importance of asset allocation and risk management in achieving long-term returns above average fixed income yields [2][3]. Group 1: Product Performance - The Zhongtai Shuangli Bond A share has achieved a net value growth rate of 9.97% since its establishment on September 27, 2022, outperforming the benchmark yield of 5.93% [3]. - The maximum drawdown for the A share of Zhongtai Shuangli Bond is 0.66%, which is significantly better than the maximum drawdowns of the mixed bond secondary index (4.25%), pure bond fund index (1.31%), and short-term bond fund index (0.89%) [3]. Group 2: Risk Management Strategy - The company employs a dynamic management approach for drawdown control, where the underlying fixed income provides a safety cushion, and risk exposure is adjusted based on risk budget assessments [5]. - The strategy includes preemptive interventions, allowing for some tolerance during initial drawdowns, but increasing the weight of risk evaluation once thresholds are triggered [5]. Group 3: Investment Philosophy - The investment strategy focuses on increasing positions only when market conditions are favorable and maintaining low positions when opportunities are unclear, often keeping high elastic positions at very low levels (0% or 1%) [5][6]. - The company prioritizes protecting clients' risk-return objectives, emphasizing a disciplined approach to investment that considers potential losses before gains [6]. Group 4: New Product Offering - The Zhongtai Shuangxin Six-Month Holding Bond is currently being issued, designed with a six-month holding period to reduce daily redemption impacts and stabilize fund size, allowing for a more focused execution of medium to long-term investment strategies [6].