Core Viewpoint - Macro strategies have gained significant attention from private equity firms, with an average return of 24.54% in the first three quarters of the year, particularly strong in August and September [2][4]. Group 1: Performance of Macro Strategies - As of September 30, 272 macro strategy products recorded an average return of 24.54%, with 92.65% achieving positive returns [4]. - Monthly performance showed positive returns in all months except January, with August and September averaging returns of 5.18% and 4.70% respectively [4]. Group 2: Market Environment and Strategy Adoption - The current low interest rate environment has led to a narrowing of credit spreads and limited yield in pure bond strategies, prompting private equity firms to adopt macro strategies for flexible asset allocation [4][5]. - Macro strategies are seen as suitable for the current volatile market, providing diversified multi-asset products to meet clients' needs for stable returns [5]. Group 3: Diverse Macro Models - Different private equity firms have developed unique macro analysis frameworks based on their research backgrounds, combining systematic and active management approaches [6]. - Strategies include dynamic asset weight adjustments to balance risks and optimize returns based on various economic factors [6][7]. Group 4: Investment Outlook - The outlook for the next 6 to 12 months emphasizes the importance of monitoring Federal Reserve policies and managing risks during market volatility [8]. - There is a positive view on equities and commodities, with expectations for potential opportunities driven by geopolitical risks and the Fed's interest rate cycle [9].