Core Viewpoint - In the current volatile capital market, asset management institutions must maintain stability and long-term growth, with Bosera Capital exemplifying this through its multi-asset strategy and over 2.24 trillion yuan in managed assets [2][3]. Group 1: Company Overview - Bosera Capital was established in February 2013 with a registered capital of 850 million yuan and is a subsidiary of Bosera Fund, which is primarily controlled by China Merchants Securities [8][6]. - The company has issued over 1,500 products and has a cumulative management scale exceeding 2.24 trillion yuan [2]. - Bosera Capital shares a risk control system with its parent company, ensuring comprehensive risk monitoring and compliance management [10]. Group 2: Investment Strategy - The investment strategy framework of Bosera Capital includes various strategies such as fixed income, fixed income plus, quantitative stock selection, quantitative derivatives, ETF rotation, volatility enhancement, and overseas thematic FOF strategies [3][12]. - The investment strategies are designed to complement those of the parent company, providing differentiated products [12]. Group 3: Volatility Enhancement Strategy - The volatility enhancement strategy aims to capture market fluctuations and enhance returns through non-linear grid trading and futures pricing [15]. - The flagship product, "Bosera Rongxiang Enhanced Income No. 1," is tailored for volatile markets and aims to achieve excess returns while controlling drawdowns [15]. - The strategy's returns are derived from four main sources: volatility profits, basis spread profits, index returns, and cash returns [16]. Group 4: Performance and Risk Management - Historical performance shows that the volatility enhancement strategy has achieved positive returns for nine consecutive years from 2016 to 2024, with annualized returns significantly outperforming the CSI 500 index during downturns [22][24]. - The strategy has demonstrated strong risk control, with maximum drawdowns significantly lower than the CSI 500 index during adverse market conditions [24]. Group 5: Dividend Enhancement Strategy - The fixed income plus quantitative dividend enhancement strategy focuses on high-dividend, low-volatility stocks while maintaining a significant allocation to bonds [34]. - The strategy benefits from favorable policies encouraging cash dividends and stock buybacks, enhancing the selection of potential investment targets [37]. - The strategy employs a rigorous selection process to ensure sustainable high dividends and robust company fundamentals [39][40]. Group 6: AI Integration - Bosera Capital aims to integrate AI technology into various aspects of its strategies, including factor development, return prediction, and model optimization [43]. - The use of AI is expected to enhance the efficiency of investment research and decision-making processes [43].