Core Viewpoint - The article discusses the recent fluctuations in the A-share market and the bond market, highlighting the "see-saw" effect between stocks and bonds, and suggests a balanced asset allocation strategy to mitigate risks and enhance returns [1][2]. Group 1: Market Performance - Since 2015, the performance of the stock index (CSI 300) and the bond index (CITIC All Bond) has shown significant fluctuations, with six periods of opposite performance noted [1]. - The annual performance data from 2015 to 2024 indicates that the bond index has outperformed the stock index in several years, with notable differences in percentage changes [1]. Group 2: Investment Strategy - Investors are advised against focusing solely on either stocks or bonds due to the cyclical nature of their performance, suggesting a mixed asset allocation approach [2][3]. - A proposed strategy involves primarily investing in bonds while allocating a smaller portion to stocks, which can help capture opportunities during stock market upswings while providing stability during downturns [2][3]. Group 3: Fund Performance - The article highlights the performance of mixed-asset funds, particularly those with a bond focus, which have shown better cumulative returns and lower volatility compared to the CSI 300 index over the past 20 years [3][4]. - Specific funds, such as the "Guofu Anyi Stable 6-Month Holding Period Mixed Fund," have demonstrated positive returns across various time frames, indicating effective risk management and performance consistency [6][7]. Group 4: Risk Management - The "Guofu Anyi Stable" fund has shown superior risk control metrics, including lower annualized volatility and maximum drawdown compared to its peers, suggesting a strong risk-adjusted performance [6][7]. - The fund's Sharpe and Calmar ratios also outperform the average of similar funds, indicating a favorable risk-return profile [6].

Core Viewpoint - The article discusses the cyclical nature of stock and bond markets, emphasizing the importance of a balanced asset allocation strategy to navigate the volatility between these two asset classes [1][3]. Group 1: Stock and Bond Market Dynamics - Since July, the A-share market has surged while the bond market has experienced turbulence, highlighting the contrasting performance of stocks and bonds [1]. - Historical data shows that from 2015 to 2024, there have been significant fluctuations in the performance of the CSI 300 and the China Bond Index, indicating a recurring pattern of stock and bond performance being inversely related [2]. Group 2: Asset Allocation Strategy - A recommended approach is to create a diversified asset allocation that primarily focuses on bonds with a smaller allocation to stocks, which can help mitigate risks associated with market volatility [3][4]. - The article suggests that mixed-asset funds, such as bond-enhanced strategy funds, can effectively balance the risks and returns of both stocks and bonds, providing a more stable investment experience [3][4]. Group 3: Fund Performance and Selection - The "Guofu Anyi Stable 6-Month Holding Mixed Fund" has shown positive performance across various time frames, indicating strong risk management and consistent returns [6][8]. - Key performance metrics for the fund, such as annualized volatility and maximum drawdown, demonstrate its superior risk control compared to similar funds, making it an attractive option for investors seeking stability [9].

Core Viewpoint - The article discusses the cyclical nature of the stock and bond markets, highlighting the contrasting performance of equities and bonds, and suggests a balanced asset allocation strategy to mitigate risks and enhance returns [1][2][3]. Group 1: Stock and Bond Market Dynamics - The stock market has seen significant gains since July, while the bond market has experienced volatility, leading to a "see-saw" effect between the two asset classes [1][2]. - Historical data shows that from 2015 onwards, there have been six periods where the performance of the CSI 300 and the China Bond Index moved in opposite directions [2][5]. Group 2: Asset Allocation Strategy - It is recommended to avoid concentrating investments in either stocks or bonds exclusively, as this could lead to poor performance during market fluctuations [3][6]. - A balanced approach, where bonds are the primary investment and stocks are a supplementary component, is suggested to create a more resilient asset allocation [7][8]. Group 3: Performance of Mixed Investment Strategies - Funds that adopt a fixed income enhancement strategy, investing primarily in bonds with a smaller allocation to stocks, have historically outperformed both the CSI 300 Index and the China Bond Index over the past 20 years [9][10]. - The cumulative returns of mixed investment strategies, such as the bond-enhanced fund index, have exceeded those of pure equity and bond indices, with lower volatility [10]. Group 4: Fund Selection and Performance - The article highlights the performance of the Guofu Anyi Stable 6-Month Holding Period Mixed Fund, which has shown positive returns across various time frames, indicating effective risk management [11][13]. - Key performance metrics for the fund, such as annualized volatility and maximum drawdown, demonstrate superior risk control compared to its peers [15].