Core Viewpoint - The increasing scale of household deposits maturing by 2026, potentially reaching several trillion yuan, highlights the need for stable return investment solutions in a declining interest rate environment and increasing uncertainty in traditional investment channels [1] Group 1: Product Launch and Market Context - The launch of the Fuguo Zhi'an Stable 90-Day Holding Period Mixed Fund of Funds (FOF) aims to provide a low-volatility, stable return solution for investors seeking robust returns [1] - The fund is positioned as a mixed bond FOF, managed by Zhang Ziyan, focusing on a strategy of "debt base and diversified enhancement" to offer a defensive and yield-flexible investment tool in a complex market [1] Group 2: Growth of Mixed Bond FOFs - The scale of mixed bond FOFs has doubled in two years, growing from 708 billion yuan at the beginning of 2024 to over 1.491 trillion yuan by the end of 2025, accounting for over 60% of the total public FOF scale [2] - The significant growth reflects a strong demand for stable investment tools with better risk-return ratios in the current market landscape [2] Group 3: Investment Strategy and Asset Allocation - The Fuguo Zhi'an Stable FOF employs a "core-enhancement" allocation framework, with the core consisting of high-quality bond funds to mitigate interest rate sensitivity and control net value drawdown [3] - The enhancement portion allows for 5%-30% equity asset exposure and can include commodity funds, QDII, and public REITs to capture structural opportunities and enhance yield flexibility [3] Group 4: Fund Management Expertise - Zhang Ziyan, the proposed fund manager, is a seasoned expert in multi-asset allocation with extensive research and practical experience, emphasizing refined asset allocation and deep selection of underlying funds [4] - His investment philosophy prioritizes risk control over yield pursuit, which has been validated by past performance, such as the Fuguo Zhi'an Stable FOF achieving a 9.06% return over one year compared to a benchmark of 2.19% [4][5] Group 5: Future Outlook - As global macroeconomic conditions evolve and asset correlations become more complex, the era of relying on single assets for passive gains may be over, making diversified and refined asset allocation essential for achieving long-term stable returns [5] - The demand for diversified FOF products that balance stability and flexibility is expected to continue growing, with the Fuguo Zhi'an Stable FOF enriching the public market's risk management toolbox [5]

多家机构测算数据表明，2026年到期的居民存款规模或达数十万亿元级别。在市场利率中枢持续下行、 传统投资渠道不确定性增加的宏观背景下，如何为这部分寻求稳健回报的资金找到"新大陆"，已成为市 场关注的焦点。 "核心—增强"双轮驱动，构建多元资产配置体系 在此背景下，一款旨在提供低波动、稳健回报解决方案的公募产品应运而生。富国基金旗下的富国智安 稳健90天持有期混合型基金中基金（FOF）（以下简称"富国智安稳健FOF"）（A类：026343，C类： 026344）于今日（2月24日）正式进入首发募集期。据悉，该产品定位为偏债混合型FOF，拟由多元资 产投资总监张子炎担纲管理，力求通过"债基打底、多元增强"的策略，为投资者在当前复杂的市场环境 中提供一个兼具防御性与收益弹性的配置工具。 规模两年翻倍，偏债混合FOF成低波配置新宠 在低利率环境与市场波动加剧的双重驱动下，单一资产策略愈发难以满足投资者对财富保值增值的核心 诉求。作为资产配置的"专业买手"，FOF类基金凭借其分散投资、平滑波动的天然优势，正逐步走向舞 台中央。 其中，偏债混合型FOF的崛起尤为引人注目。Wind数据显示，该类产品规模自2024年初至20 ...