Group 1 - The report indicates that domestic asset BL models 1 and 2 both recorded a weekly return of 0.1%, with December returns of 0.11% and year-to-date returns of 4.15% and 3.93% respectively [1][14]. - Global asset BL models 1 and 2 experienced a decline, with model 1 showing a weekly return of -0.14% and model 2 a slight decrease of -0.01%, while their year-to-date returns were 1.01% and 2.59% respectively [1][14]. - The domestic risk parity model achieved a weekly return of 0.04% and a year-to-date return of 3.68%, while the global risk parity model had a weekly return of 0.02% and a year-to-date return of 3.31% [20][21]. Group 2 - The report highlights that the macro factor-based asset allocation model yielded a weekly return of 0.07% and a year-to-date return of 4.48%, indicating its effectiveness in the current market environment [26][27]. - The performance of various asset classes was tracked, with SHFE gold showing a significant increase of 1.0%, while the South China commodity index and S&P 500 experienced declines of 1.21% and 0.78% respectively [7][9]. - The report emphasizes the importance of the Black-Litterman model, which integrates subjective views with quantitative models to optimize asset allocation, thus providing a more robust investment strategy [12][13].

Group 1 - The report indicates that the overall asset allocation strategy has experienced fluctuations due to domestic equity asset volatility, with various models recording different degrees of decline [1][4][7] - The performance of major asset classes from September 15 to September 19, 2025, shows that the S&P 500, Hang Seng Index, and other indices recorded gains, while convertible bonds and gold experienced declines [7][10] - The domestic asset BL model 1 and model 2 both reported a weekly return of -0.04%, while the global asset BL models had slightly better performance with a return of -0.01% for model 1 and -0.03% for model 2 [15][17] Group 2 - The Black-Litterman (BL) model is highlighted as an improvement over traditional mean-variance models, integrating subjective views with quantitative models to optimize asset allocation [12][13] - The domestic asset risk parity model achieved a return of -0.02% for the week, while the global asset risk parity model recorded a positive return of 0.05% [21][22] - The macro factor-based asset allocation strategy reported a weekly return of -0.1%, with a year-to-date return of 3.25%, indicating its performance amidst changing economic conditions [27][28]