- Model Name: Domestic Asset BL Model 1; Model Construction Idea: The BL model is an improvement of the traditional mean-variance model, combining subjective views with quantitative models using Bayesian theory; Model Construction Process: The model optimizes asset allocation weights based on investor market analysis and asset return forecasts, effectively addressing the sensitivity of the mean-variance model to expected returns; Model Evaluation: The BL model provides a higher fault tolerance compared to purely subjective investments, offering efficient asset allocation solutions[14][15] - Model Name: Domestic Asset BL Model 2; Model Construction Idea: Similar to Domestic Asset BL Model 1; Model Construction Process: The model is built on the same principles as Domestic Asset BL Model 1 but with different asset selections; Model Evaluation: Similar to Domestic Asset BL Model 1[14][15] - Model Name: Global Asset BL Model 1; Model Construction Idea: Similar to Domestic Asset BL Model 1; Model Construction Process: The model is built on the same principles as Domestic Asset BL Model 1 but targets global assets; Model Evaluation: Similar to Domestic Asset BL Model 1[14][15] - Model Name: Global Asset BL Model 2; Model Construction Idea: Similar to Global Asset BL Model 1; Model Construction Process: The model is built on the same principles as Global Asset BL Model 1 but with different asset selections; Model Evaluation: Similar to Global Asset BL Model 1[14][15] - Model Name: Domestic Asset Risk Parity Model; Model Construction Idea: The risk parity model aims to equalize the risk contribution of each asset in the portfolio; Model Construction Process: The model calculates the risk contribution of each asset and optimizes the deviation between actual and expected risk contributions to determine final asset weights; Model Evaluation: The model provides stable returns across different economic cycles[20][21] - Model Name: Global Asset Risk Parity Model; Model Construction Idea: Similar to Domestic Asset Risk Parity Model; Model Construction Process: The model is built on the same principles as Domestic Asset Risk Parity Model but targets global assets; Model Evaluation: Similar to Domestic Asset Risk Parity Model[20][21] - Model Name: Macro Factor-Based Asset Allocation Model; Model Construction Idea: The model constructs a macro factor system covering growth, inflation, interest rates, credit, exchange rates, and liquidity; Model Construction Process: The model uses the Factor Mimicking Portfolio method to construct high-frequency macro factors and optimizes asset weights based on subjective macro views; Model Evaluation: The model bridges macro research and asset allocation, reflecting subjective macro judgments in asset allocation[23][24][27] - Domestic Asset BL Model 1, Weekly Return: 0.02%, July Return: 0.61%, 2025 YTD Return: 2.46%, Annualized Volatility: 2.16%, Maximum Drawdown: 1.31%[17][19] - Domestic Asset BL Model 2, Weekly Return: -0.06%, July Return: 0.48%, 2025 YTD Return: 2.41%, Annualized Volatility: 1.93%, Maximum Drawdown: 1.06%[17][19] - Global Asset BL Model 1, Weekly Return: -0.09%, July Return: 0.56%, 2025 YTD Return: 0.95%, Annualized Volatility: 1.95%, Maximum Drawdown: 1.64%[17][19] - Global Asset BL Model 2, Weekly Return: -0.07%, July Return: 0.51%, 2025 YTD Return: 1.59%, Annualized Volatility: 1.7%, Maximum Drawdown: 1.28%[17][19] - Domestic Asset Risk Parity Model, Weekly Return: -0.02%, July Return: 0.36%, 2025 YTD Return: 2.7%, Annualized Volatility: 1.46%, Maximum Drawdown: 0.76%[22][23] - Global Asset Risk Parity Model, Weekly Return: -0.03%, July Return: 0.3%, 2025 YTD Return: 2.16%, Annualized Volatility: 1.66%, Maximum Drawdown: 1.2%[22][23] - Macro Factor-Based Asset Allocation Model, Weekly Return: -0.03%, July Return: 0.38%, 2025 YTD Return: 2.76%, Annualized Volatility: 1.36%, Maximum Drawdown: 0.64%[28][29]