Group 1 - The article discusses the introduction of a series of stock-bond constant proportion indices by the China Securities Index Company since 2024, highlighting their characteristics and investment value [3][4][6] - The stock-bond constant proportion indices are designed to maintain a fixed allocation between stocks and bonds, with periodic rebalancing to uphold this ratio [6][7] - The indices include various configurations such as 10/90, 20/80, and 30/70 stock-bond ratios, similar to "fixed income +" indices [8][12] Group 2 - The characteristics of the stock-bond constant proportion indices include simultaneous investment in stocks and bonds, application of target risk strategies, a bond-heavy allocation, and regular rebalancing [7][8] - The China Securities A500 stock-bond constant proportion index series is highlighted as a representative example, reflecting the performance of 500 large-cap stocks across various industries [9][10] - Historical performance data indicates that the returns and risks of these indices depend on the stock-bond ratio, with higher stock allocations leading to greater potential returns but also increased volatility [15][16] Group 3 - The article explains that the stock-bond constant proportion strategy is a form of target risk strategy, where the asset allocation remains fixed, triggering rebalancing when deviations occur [17][19] - The "Monthly Treasure" and "365-day Combination" investment products are mentioned as practical applications of this strategy, with specific stock-bond ratios and rebalancing mechanisms [21][27] - Recent rebalancing actions for both investment products are detailed, showcasing how they adjust their allocations in response to market movements [24][30] Group 4 - The article addresses common questions regarding the investment value of stock-bond constant proportion indices, emphasizing the importance of aligning stock-bond ratios with individual risk tolerance and evaluating underlying asset valuations [34][35] - It notes the significant growth in "fixed income +" fund sizes since 2024, attributed to declining deposit rates and low yields on 10-year government bonds [37] - The article concludes with suggestions on how to combine different indices for a diversified investment approach [39]