Core Viewpoint - The South Fund's "South Stable" bond fund has successfully raised over 5 billion RMB in just 6 trading days, reflecting strong investor demand for low-volatility products and the effective collaboration between Guangfa Bank and South Fund [2][4]. Group 1: Fund Performance and Market Demand - The "South Stable" bond fund is the largest newly issued non-holding period secondary bond fund this year, indicating a significant market interest in such investment vehicles [2]. - The fund aims to provide long-term stable returns by using high-quality bond assets as a base while flexibly allocating up to 20% in equity assets to enhance returns [4]. - The fund managers, Liu Shukun and Liu Yicheng, bring extensive experience to the table, focusing on leveraging their strengths to create a robust investment tool [4]. Group 2: Strategic Partnerships and Brand Development - "Guangfa Select" is a key brand for Guangfa Bank in the fund business, emphasizing professional service to help clients achieve long-term stable returns [6]. - The "South Stable" fund is the third product under the "Guangfa Select" brand, following the successful launches of "South Yu Stable" and "South Hao Stable," showcasing a consistent strategy to enhance client profitability [6]. - The collaboration between South Fund and Guangfa Bank has a 17-year history, marked by successful joint efforts in public retail business [6]. Group 3: Future Outlook and Industry Development - The public fund industry is expected to continue leveraging its professional capabilities to empower the real economy and enhance investor satisfaction under the guidance of the "Action Plan for Promoting High-Quality Development of Public Funds" [7]. - South Fund and Guangfa Bank plan to maintain their collaborative efforts to support investors in achieving wealth growth, contributing to the industry's transition to a new phase of high-quality development [7].

Core Viewpoint - The "fixed income +" strategy is gaining traction as a new consensus in the market, focusing on risk and return rebalancing, becoming a core focus for household asset allocation as risk-free yields decline and equity market activity increases [1] Group 1: Fund Launch and Strategy - The Southern Yiwen Stable Income Bond Fund, managed by Southern Fund and custodied by Guangfa Bank, has officially launched, with strong investor subscription on the first day [1] - As a low-volatility secondary bond fund, Southern Yiwen employs a mixed equity and bond strategy aimed at controlling risk while maximizing returns, aligning with the characteristics of secondary bond funds [1] - The fund is part of the "Guangfa Selected" series, which aims to provide professional services to help clients achieve long-term stable returns, showcasing the bank's advantages as a financial product platform [1] Group 2: Fund Managers - The fund will be co-managed by seasoned fund managers Liu Shukun and Liu Yicheng, both of whom have extensive experience in investment management [2] - Liu Shukun, with nearly 21 years of experience and over 13 years in investment management, emphasizes a research-driven, value investment approach, focusing on large-cap and value stock opportunities [2] - Liu Yicheng, with 17 years of experience and over 15 years in investment management, specializes in comparative research of major asset classes and is adept at convertible bond investments, aiming for long-term excess returns [2]

Core Viewpoint - The launch of the Southern Stable Income Bond Fund aims to meet the growing demand for stable and high-yield investment products in a complex market environment, focusing on low volatility and high certainty [1][2] Group 1: Fund Overview - The Southern Stable Income Bond Fund will officially launch on July 28, 2025, and is designed to provide a flexible investment tool that balances stability and returns [1] - The fund adopts a low volatility strategy and references annuity investment concepts, targeting long-term stable investment experiences for investors [2] - It is classified as a low-volatility secondary bond fund, with equity positions controlled between 5% and 20%, aiming to maximize returns while managing risks [2] Group 2: Investment Strategy - The fund employs a dynamic adjustment of stock and bond positions, utilizing annuity risk control methods to achieve maximum returns while controlling risks [2] - The investment strategy includes participating in new stock subscriptions to enhance returns, selecting high-rated credit bonds and money market instruments for the bond portion, and focusing on undervalued high-dividend value stocks and competitively strong growth stocks for the equity portion [2] Group 3: Management Team - The fund is co-managed by experienced fund managers Liu Shukun and Liu Yicheng, who have extensive backgrounds in equity and fixed income investments, respectively [3] - Southern Fund, as a leading asset management institution in China, boasts a strong mixed asset research team and rich experience in pension fund management [3] - The company has established a comprehensive risk management system to strictly control credit risks, ensuring the safety of investors' funds [3]