Core Insights - The decline in market interest rates and the 10-year government bond yield falling below 2% has led wealth management companies to increase equity investments as a necessary choice [1] - Following the implementation of significant financial policies on September 24 last year, the domestic capital market has undergone a major transformation, significantly boosting market confidence [1] - After a year, major indices have surged, with over 1,400 stocks doubling in price, but investors have experienced volatility akin to a roller coaster ride [1] - The "fixed income +" multi-asset strategy remains an effective way to achieve stable returns, with all 10 institutions meeting performance benchmarks for closed-end fixed income products maturing in August [1] Performance of Wealth Management Companies - The average annualized yield for fixed income closed-end public products maturing in August 2025 is 2.81%, with 82.53% of products meeting the performance benchmark lower limit [1][2] - Among the institutions, Hengfeng Wealth Management achieved a 100% performance benchmark compliance rate for its 44 closed-end fixed income products [2] - The highest annualized yield among Hengfeng's products was 3.79%, attributed to the "Hengren Anying Fixed Income Enhanced Closed-end Series" [2][3] Hengfeng Wealth Management's Product Strategy - The Hengfeng Wealth Management Hengren Anying Fixed Income Enhanced Series, launched in October 2023, limits equity asset allocation to no more than 10% and focuses on fixed income assets [3] - The product aims for absolute returns, avoiding credit downgrades and maintaining a focus on high-grade credit bonds [3] - Historical data shows that all eight products in this series have met performance benchmarks, with an average annualized yield of approximately 3.8% [3]