Group 1 - The core viewpoint of the article highlights the strong performance of the A-share equity market, with the Shanghai Composite Index breaking through last year's high points and maintaining an upward trend despite short-term adjustments [3][4] - The article emphasizes the effectiveness of various fund strategies, particularly the stock enhancement strategy, which is expected to accumulate excess returns as the market environment improves [5][20] - The overseas equity market is also recovering, driven by easing tariff expectations and strong earnings from tech companies, although caution is advised for short-term investments due to potential risks in the upcoming months [4][14] Group 2 - The "Evergreen Low Volatility Fund" has shown strong stability and lower volatility compared to the benchmark, making it suitable for risk-averse investors [8][19] - The "Stock Enhancement Fund" aims to identify undervalued companies and is expected to perform better as market conditions improve, despite its recent performance being close to the benchmark [9][20] - The "Cash Growth Fund" has consistently outperformed its benchmark, providing a reliable option for cash management with accumulated excess returns since its strategy launch [11][21] - The "Overseas Equity Allocation Fund" has benefited from the global tech growth trend and is positioned to provide additional returns through diversified investments [14][22]

Core Viewpoint - The A-share equity market has shown strong performance, with the Shanghai Composite Index approaching last October's high, but faced adjustments after reaching the 3600-point level. The U.S. equity market also encountered resistance at high levels, leading to a slowdown in growth due to lower-than-expected non-farm employment data [3][4]. A-share Market Analysis - The Shanghai Composite Index has maintained an upward trend, breaking through key levels of 3400 and 3500, and recently reaching around 3600 before facing adjustments. The market sentiment has been positively influenced by multiple factors, including policy support and sector rotation, contributing to a short-term upward trend [4][5]. - The technology growth sector, which performed relatively weakly in May and June, has gained more market attention recently, indicating a shift in capital towards these lower-priced sectors [4]. Fund Strategy Performance - The Evergreen Low Volatility Strategy and Stock Enhancement Strategy recorded returns of -1.951% and -0.858% respectively this week, while overseas equity strategies also saw a decline of -1.307% [5][6]. - The Evergreen Low Volatility Fund has shown strong stability since its inception, effectively reducing portfolio volatility while maintaining decent returns. It has performed well during market fluctuations, demonstrating its defensive characteristics [10]. - The Stock Enhancement Fund has faced challenges in the current market environment, with its performance closely mirroring the benchmark. However, it is expected to gain traction as market conditions improve [11]. Overseas Market Insights - Recent developments in the overseas market, including reduced tariff risks and positive economic data, have led to a rebound in U.S. stocks. However, there are concerns about over-optimism and potential short-term pullbacks [5][6]. - The overseas equity allocation strategy has also faced declines, with a recorded return of -1.307%. Despite this, the long-term outlook remains positive due to the absence of significant recession risks in the U.S. economy and strong technological growth trends [6][7]. Fund Strategy Construction - The company has developed a quantitative method to construct a fund selection pool that meets the needs of investors with different risk preferences in various market environments. This includes low-volatility fund combinations for defensive strategies and cash management tools for optimizing short-term idle funds [20][24]. - The overseas equity allocation strategy focuses on selecting QDII funds based on long-term momentum and short-term reversal factors, aiming to provide investors with a diversified global investment approach [25].

Report Summary 1. Investment Rating No investment rating for the industry is provided in the report. 2. Core Viewpoints - The A-share equity market continues to be strong, while the US equity market shows a high-level consolidation trend. The dividend low-volatility strategy index remains stable, and the equity fund enhancement strategy index shows high elasticity [4]. - The recommended order of quantitative strategy allocation is: equity fund enhancement strategy > evergreen low-volatility strategy > overseas equity strategy [5]. - The report is relatively optimistic about the A-share market. The equity fund enhancement portfolio may have more room, and the evergreen low-volatility strategy can be used as a base allocation. The overseas market has short-term high-level correction risks, but long-term investment value remains [5][6]. 3. Summary by Directory 3.1 Toolized Fund Portfolio Performance Tracking - **Evergreen Low-Volatility Fund Portfolio**: It has maintained low volatility characteristics, with significantly better volatility and maximum drawdown than the CSI Active Equity Fund Index. Since the strategy started on July 31, 2023, it has achieved significant excess returns and has both defensive and offensive capabilities [15]. - **Equity Fund Enhancement Fund Portfolio**: The strategy has been running for a short time, and its performance is close to the CSI Active Equity Fund Index. It is expected to have stronger elasticity after the market environment improves [18]. - **Cash Enhancement Fund Portfolio**: After double screening, it continuously outperforms the benchmark. Since the strategy started at the end of July 2023, the excess return has been continuously accumulated, providing a reference for cash management [19]. - **Overseas Equity Allocation Fund Portfolio**: Since July 31, 2023, it has accumulated high excess returns, and global allocation can increase the returns of the equity investment portfolio [23]. 3.2 Toolized Fund Portfolio Construction Ideas - **Evergreen Low-Volatility Fund Portfolio**: The goal is to select funds with long-term stable returns from high-equity position actively managed funds. By adding restrictions on fund valuation levels, a low-volatility active equity fund portfolio is constructed [28]. - **Equity Fund Enhancement Fund Portfolio**: The goal is to meet the needs of equity fund investors with different risk preferences. It configures funds managed by fund managers with strong Alpha mining capabilities, and the portfolio shows excellent holding-period win rates [29]. - **Cash Enhancement Fund Portfolio**: A money fund selection system is constructed by comprehensively considering various money fund factors to help investors obtain higher returns and reduce return volatility risks [30]. - **Overseas Equity Allocation Fund Portfolio**: Based on overseas equity market indices, it selects QDII funds corresponding to indices with good upward momentum to construct a portfolio, providing an auxiliary tool for global investment [31].

Core Viewpoint - The A-share equity market continues to show strong performance, driven by multiple favorable factors, while the US equity market exhibits a high-level consolidation trend [2][4]. A-share Market Analysis - The A-share market has shown a sustained upward trend, with the Shanghai Composite Index breaking through the 3500-point level after a period of fluctuation around 3400 points [3]. - Dividend and low-volatility style sectors have performed strongly but may face short-term adjustments, leading to a potential decrease in dividend yield and attractiveness [3][4]. - The Evergreen Low Volatility strategy index recorded a return of 0.872%, while the Stock Enhancement strategy index achieved a return of 1.558%, indicating stronger elasticity in the latter [2][5]. Quantitative Strategy Configuration - The preferred strategy ranking is Stock Enhancement Strategy > Evergreen Low Volatility Strategy > Overseas Equity Strategy [3]. - The Stock Enhancement strategy is expected to gain traction as the market environment improves, with potential for higher returns as undervalued companies become more apparent [5][6]. Overseas Market Dynamics - Recent developments indicate a recovery in overseas markets, particularly in the US, following a reduction in tariff risks and better-than-expected economic data [4]. - The Overseas Equity Strategy recorded a slight decline of -0.376%, reflecting ongoing volatility in the market [6]. - Despite short-term uncertainties, the long-term outlook for the US equity market remains positive, supported by a stable economic backdrop and technological advancements [4][6]. Fund Strategy Performance - The Evergreen Low Volatility Fund has demonstrated strong stability and lower volatility compared to the benchmark, achieving significant excess returns since its strategy inception [11][22]. - The Stock Enhancement Fund has shown performance close to the benchmark, with expectations for improved returns as market conditions stabilize [13][23]. - The Cash Enhancement Fund strategy has consistently outperformed the benchmark, accumulating excess returns since its inception [15][24]. - The Overseas Equity Configuration Fund has benefited from global asset allocation, achieving high levels of excess returns since its strategy launch [16][25].

Investment Highlights - The A-share equity market continues to show strong performance, driven by multiple factors, with market sentiment improving and showing an upward trend [2][3] - The U.S. equity market has seen a slowdown in its upward momentum, exhibiting high-level fluctuations [2] - The stock-based enhancement strategy index has outperformed, recording excess returns, while the index has also surpassed previous highs from October 2024 [2][3] Quantitative Strategy Allocation View - The ranking of strategies is as follows: Stock-based enhancement strategy > Evergreen low-volatility strategy > Overseas equity strategy [3] - The Shanghai Composite Index has regained upward momentum, breaking through the 3500-point level, with technology growth sectors showing signs of stabilization after adjustments [3] - The evergreen low-volatility strategy has shown strong performance but may face reduced upward momentum in the short term due to potential declines in dividend yield [3] Overseas Market Dynamics - Recent developments indicate a rapid recovery in U.S. markets following a reduction in tariff risks, with key indices like Nasdaq and S&P 500 breaking previous highs [4] - Short-term risks may arise as uncertainties in overseas policies become more apparent, but the long-term outlook for U.S. equities remains positive [4] Fund Strategy Performance - The evergreen low-volatility fund strategy recorded a return of 0.445%, while the stock-based enhancement strategy achieved a return of 1.277% [5] - The cash enhancement fund strategy outperformed the benchmark with a return of 0.028% [6] - The overseas equity allocation fund strategy recorded a return of 0.562%, despite facing challenges from tariff impacts [6] Tool-based Fund Combination Performance Tracking - The evergreen low-volatility fund combination has maintained low volatility and small drawdowns, outperforming the benchmark since its strategy launch [11] - The stock-based enhancement fund combination has shown potential for stronger performance as market conditions improve [12] - The cash enhancement fund combination has consistently outperformed its benchmark since its inception [15] - The overseas equity allocation fund combination has accumulated significant excess returns, benefiting from global technology growth [17] Tool-based Fund Combination Construction Ideas - The report emphasizes the need for a quantitative approach to fund selection to meet diverse investor needs in changing market conditions [19][21] - The evergreen low-volatility fund combination aims to select funds with stable long-term returns, while the stock-based enhancement strategy focuses on identifying funds with strong alpha generation capabilities [22][23] - The cash enhancement fund strategy aims to optimize returns while minimizing risk, and the overseas equity allocation strategy seeks to provide global diversification [24][25]

Group 1 - The core viewpoint of the article highlights the strong performance of both domestic and overseas equity markets in recent weeks, driven by multiple factors including easing risk factors and improving market sentiment, leading to a continuous upward trend [2][3] - Various strategy indices have recorded positive returns, with the Evergreen Low Volatility Strategy and Stock Enhancement Strategy achieving returns of 1.19% and 1.26% respectively, outperforming the CSI All Share Index [2][3] - The A-share market has shown optimism as the Shanghai Composite Index rebounded to around 3500 points, with technology growth sectors showing signs of stabilization after previous adjustments [3][4] Group 2 - The quantitative strategy allocation suggests prioritizing Stock Enhancement Strategy over Evergreen Low Volatility Strategy and Overseas Equity Strategy, indicating a preference for more elastic strategies in the current market environment [3] - The Evergreen Low Volatility Fund Strategy has demonstrated strong stability and has been effective in reducing portfolio volatility while maintaining decent returns since its strategy implementation [11][23] - The Stock Enhancement Fund Strategy has shown potential for better performance as market conditions improve, with a focus on identifying undervalued companies [12][24] Group 3 - The Overseas Equity Allocation Fund Strategy has recorded a return of 1.1%, with the potential for further gains as the U.S. economy remains stable and technological advancements continue to drive growth [7][18] - The Cash Enhancement Fund Strategy has consistently outperformed its benchmark, accumulating excess returns since its strategy implementation [6][16] - The article emphasizes the importance of a diversified global investment approach, particularly in light of the ongoing developments in the U.S. market and the potential for new growth opportunities [4][26]

Group 1 - The core viewpoint of the article highlights the current fluctuations in the A-share market, with the Shanghai Composite Index showing slight declines influenced by international geopolitical conflicts, while certain technology sectors are beginning to rebound after previous adjustments [2][4] - The quantitative strategy configuration suggests a preference for stock-based enhancement strategies over low-volatility strategies and overseas equity strategies, indicating a more optimistic outlook for A-shares despite potential risks in defensive sectors [3][4] - The article emphasizes the performance of various fund strategies, noting that the low-volatility fund strategy has shown strong stability and excess returns during recent market fluctuations, while the stock-based enhancement strategy is expected to gain traction as market conditions improve [5][6] Group 2 - The low-volatility fund strategy has maintained its characteristics of low volatility and small drawdowns, outperforming the benchmark indices since its inception, demonstrating effective risk management and stable returns [10][21] - The stock-based enhancement fund strategy, while still in its early stages, is expected to show stronger performance as market conditions improve, focusing on funds with strong alpha generation capabilities [11][22] - The cash-enhancing fund strategy has consistently outperformed its benchmark, accumulating excess returns since its launch, providing effective cash management solutions for investors [14][23] - The overseas equity allocation fund strategy has benefited from the easing of tariff risks and the growth of technology sectors, indicating a positive outlook for global investments despite short-term volatility [15][24]

Investment Insights - A-shares have resumed an upward trend in early June after experiencing fluctuations and short-term adjustments in May, with technology growth sectors like semiconductors and communications rebounding [2][3] - The banking sector continues to perform strongly, attracting significant capital [2] - In the overseas market, U.S. stocks are approaching previous highs, influenced by non-farm employment data and positive developments in the semiconductor industry [2][4] Quantitative Strategy Allocation - The preferred strategy is stock-enhanced strategies, followed by evergreen low-volatility strategies and overseas equity strategies [3] - A-shares have rebounded quickly after a short-term tariff shock, but there are concerns about the sustainability of this rebound as the market approaches previous highs [3] - Defensive sectors like banks have shown strong performance, but potential risks from significant price increases should be monitored [3] Overseas Market Analysis - The easing of U.S. tariff attitudes has led to a recovery in U.S. stocks and other global markets, although uncertainties remain regarding trade negotiations and policy [4][6] - The Nasdaq is nearing its early-year highs, but upward momentum may face resistance [4][7] - Long-term, the outlook for U.S. stocks remains positive, supported by a stable economic backdrop and technological advancements [4][7] Fund Strategy Performance - The Evergreen Low-Volatility Fund Strategy recorded a weekly return of 0.688%, demonstrating strong stability and excess returns in a defensive market [5][8] - The Stock-Enhanced Fund Strategy achieved a weekly return of 1.023%, with potential for excess returns as market conditions improve [5][8] - The Cash Growth Fund Strategy yielded a return of 0.030%, outperforming the benchmark [5][8] Fund Composition Insights - The Evergreen Low-Volatility Fund has consistently maintained low volatility and maximum drawdown, outperforming benchmarks since its strategy launch [9][21] - The Stock-Enhanced Fund aims to identify funds with strong alpha generation capabilities, showing promise in improving performance as market conditions stabilize [12][22] - The Cash Growth Fund has accumulated excess returns since its strategy implementation, providing effective cash management solutions [14][23] - The Overseas Equity Allocation Fund has benefited from the global tech growth driven by AI, accumulating significant excess returns [16][24]

Group 1 - The core viewpoint of the article highlights the performance of the A-share market, which has shown some support after a pullback from high levels, with the Shanghai Composite Index fluctuating around 3370, indicating a cautious market sentiment [2][3] - The article discusses the strong performance of heavyweight stocks and related industries, which have provided significant support to the index during this volatile period, while the semiconductor and technology sectors have seen a decrease in momentum [3][4] - Concerns about the U.S. economy's stagnation have increased following the release of economic data such as the PCE, leading to a significant pullback in U.S. stocks, with the market remaining sensitive to negative news and risk factors [2][4] Group 2 - The article outlines a quantitative strategy allocation perspective, favoring the Evergreen Low Volatility Strategy over overseas equity strategies and enhanced equity fund strategies, indicating a preference for defensive investment approaches in the current market environment [3][5] - The Evergreen Low Volatility Fund Strategy has recorded a positive return of 0.087% despite the overall market decline, demonstrating its defensive attributes and stability in performance [5][20] - The Cash Management Fund Strategy has achieved a return of 0.033%, outperforming the benchmark, and has accumulated excess returns since its inception [6][20] Group 3 - The article emphasizes the importance of constructing a tool-based fund combination to meet the diverse needs of investors in different market environments, utilizing quantitative methods to select funds with low volatility characteristics [9][11] - The Overseas Equity Allocation Fund Strategy is highlighted as a crucial tool for global asset allocation, focusing on selecting QDII funds based on long-term momentum and short-term reversal factors [10][14] - The performance tracking of various fund combinations indicates that the Evergreen Low Volatility Fund has maintained its low volatility characteristics while achieving significant excess returns since its strategy launch [16][21]

Core Insights - The report highlights that the "Evergreen Low Volatility Strategy" is currently outperforming, while overseas equity markets are stabilizing and rebounding [3][4][5]. Group 1: Market Overview - The A-share market experienced a pullback after failing to maintain momentum above 3400 points, with significant adjustments in previously strong sectors like robotics and semiconductors [3][4]. - Defensive sectors, particularly dividend-related stocks, have shown resilience during market weakness, validating previous allocation views [3][4]. - In the overseas market, concerns about economic recession have eased slightly following comments from the Federal Reserve Chairman, leading to a rebound in U.S. stock markets [3][4]. Group 2: Strategy Allocation - The report ranks strategies as follows: Evergreen Low Volatility Strategy > Overseas Equity Strategy > Stock Fund Enhancement Strategy [4]. - The Evergreen Low Volatility Fund Strategy recorded a slight decline of -0.772% this week, while the stock fund enhancement strategy fell by -1.150% [6][18]. - The cash-enhanced fund strategy achieved a return of 0.032%, outperforming the benchmark [7][18]. Group 3: Fund Strategy Performance - The Evergreen Low Volatility Fund has shown strong stability since its inception, with a cumulative return of 9.170% since July 31, 2023 [18][20]. - The Stock Fund Enhancement Strategy has a cumulative return of 10.753% since its launch, indicating potential for excess returns as market conditions improve [18][24]. - The Overseas Equity Allocation Fund has accumulated a high level of excess returns, benefiting from the global technology growth driven by artificial intelligence [18][28]. Group 4: Fund Composition and Selection - The Evergreen Low Volatility Fund focuses on selecting funds with long-term stable returns, emphasizing low volatility and drawdown characteristics [14][20]. - The Stock Fund Enhancement Strategy aims to identify funds with strong alpha generation capabilities, focusing on stock selection and industry exposure [15][24]. - The Cash Enhanced Fund Strategy utilizes a multi-dimensional factor approach to select high-performing money market funds, optimizing short-term cash management [16][27]. Group 5: Global Investment Strategy - The report emphasizes the importance of QDII funds for global asset allocation, utilizing momentum and reversal factors to select overseas equity indices for investment [17][28]. - The Overseas Equity Allocation Fund has been effective in providing additional returns to A-share investments, particularly in the context of the Federal Reserve's interest rate policies [28][29].