2025年以来，随着资本市场环境逐步企稳与投资者配置理念的深化，公募FOF凭借其分散风险、平滑波 动的产品特性，迎来了显著的规模增长与市场关注。Wind数据显示，2025年全年公募FOF合计募集规 模达845.29亿元，同比增幅超过8倍，创下近三年新高。这一增长趋势，清晰地反映了在市场波动与低 利率并存的宏观背景下，投资者对具备资产配置功能、能有效管理波动的工具需求日益迫切。 再看2026年，在"理财搬家""养老刚需""工具升级"三重因素下，公募FOF有望继续拓展发展空间，成为 居民资产配置组合中的核心选择之一。在此市场机遇下，金融机构正加速协同，以更专业的服务响应投 资者需求。据了解，为向客户提供风险收益特征清晰、投资目标明确的财富管理选择，中国银行联合公 募基金管理机构打造了一站式资产配置方案——"慧投计划"。目前，该计划已正式启动，并将携手南方 基金旗下"优生优养计划"拳头产品——南方浩鑫稳健优选6个月持有混合（FOF）（A类：015421，C 类：015422），共同为投资者提供更为丰富的稳健型配置选择。 理念契合 构建"以投资者收益为中心"的服务生态 南方基金"优生优养计划"与中国银行"慧投计划"虽 ...

2025年以来，随着资本市场环境逐步企稳与投资者配置理念的深化，公募FOF凭借其分散风险、平滑波 动的产品特性，迎来了显著的规模增长与市场关注。Wind数据显示，2025年全年公募FOF合计募集规 模达845.29亿元，同比增幅超过8倍，创下近三年新高。这一增长趋势，清晰地反映了在市场波动与低 利率并存的宏观背景下，投资者对具备资产配置功能、能有效管理波动的工具需求日益迫切。 再看2026年，在"理财搬家""养老刚需""工具升级"三重因素下，公募FOF有望继续拓展发展空间，成为 居民资产配置组合中的核心选择之一。在此市场机遇下，金融机构正加速协同，以更专业的服务响应投 资者需求。据了解，为向客户提供风险收益特征清晰、投资目标明确的财富管理选择，中国银行联合公 募基金管理机构打造了一站式资产配置方案——"慧投计划"。目前，该计划已正式启动，并将携手南方 基金旗下"优生优养计划"拳头产品——南方浩鑫稳健优选6个月持有混合(FOF)(A类：015421，C类： 015422)，共同为投资者提供更为丰富的稳健型配置选择。 理念契合 "慧投计划"则基于中国银行对市场的深入研究，综合考虑不同资产的风险收益特征、不同期限的 ...

在利率中枢下移、资产轮动加速的当下，多元资产配置已成为应对市场变化的关键。其核心价值，在于 通过跨类别、跨市场的资产组合，打破单一资产的局限，有效分散风险、平抑组合波动。而FOF则将多 元配置的优势发挥到极致，通过搭配债基、股基、黄金类资产等，既不会错过核心赛道机会，又能通过 资产间的低相关性降低回调冲击，无需投资者自行搭配各类资产。 其中，富国智汇稳健FOF的核心优势，则源于"底仓+策略+风控"的三重保障，以及绩优基金经理与强大 平台的支撑。 在底仓构建上，产品坚守"固收打底"逻辑。精选长期业绩优异、风控能力突出的债基作为底仓，充分发 挥债券资产的稳健增值作用，为组合搭建"安全垫"，实现"进可攻、退可守"。 配置策略方面，产品突破"拼盘式"选基，采用"多元资产+多元策略"思路。在债基基础之上，围绕反内 卷政策引领、PPI回升的制造业中游和海外AI主线带来的技术变革板块，灵活配置相关领域优质基金， 同时搭配黄金、REITs等资产对冲波动。既把握结构性机会，又避免单一热点退潮的风险， 风控层面，依托富国基金多元资产投资部投研体系，通过风险预算管理、仓位动态调整等方式，合理控 制组合波动，让投资体验更平稳。 20 ...

Core Insights - The A-share market has entered a high volatility phase, making diversified asset allocation crucial for managing market changes [1] - The newly launched FOF product, 富国智汇稳健3个月持有期混合FOF, aims to balance opportunity and risk through a multi-asset allocation strategy [1][4] Group 1: FOF Product Overview - The FOF product is designed to leverage the advantages of diversified allocation by combining various asset classes such as bonds, equities, and gold to mitigate risks and reduce volatility [1][2] - It is managed by experienced FOF manager Wang Dengyuan, who has 14 years of experience in the securities industry and 6 years in FOF management [3] Group 2: Investment Strategy - The product adheres to a "fixed income foundation" logic, selecting high-performing and risk-controlled bond funds as a safety net for the portfolio [2] - It employs a "multi-asset + multi-strategy" approach, focusing on sectors influenced by policies against "involution," PPI recovery in the manufacturing midstream, and technological changes driven by overseas AI [2] Group 3: Risk Management - The FOF product utilizes a robust risk management framework, including risk budget management and dynamic position adjustments to control portfolio volatility [2] - The investment research system of 富国基金 supports the product, ensuring comprehensive backing across fixed income, active equity, and quantitative investments [3] Group 4: Performance Metrics - Recent performance data shows that 富国鑫汇养老目标日期2035三年持有A and 富国鑫汇养老目标日期2045五年持有A achieved returns of 13.02% and 24.26% respectively over the past year, outperforming their benchmarks [3]

Core Viewpoint - The A-share market has shown significant momentum at the beginning of 2026, with the Shanghai Composite Index rising for 17 consecutive days and surpassing the 4100-point mark, leading to increased trading volumes. However, after January 13, the market entered a phase of high volatility, prompting investors to seek opportunities while being cautious of potential risks [1]. Group 1: Market Performance - The Shanghai Composite Index rose from the end of 2025 to January 12, 2026, achieving 17 consecutive days of gains and breaking through the 4100-point threshold [1]. - Trading volumes in the two markets exceeded 30 trillion yuan for three consecutive days [1]. - Following the peak on January 13, the market experienced high volatility, with previous leading sectors showing increased fluctuations [1]. Group 2: FOF Product Value - The value of FOF (Fund of Funds) products has become more prominent, particularly in a market characterized by rapid asset rotation and declining interest rates [2]. - The 2025 mixed FOF index with a bias towards bonds increased by 6.16%, demonstrating both reduced volatility and income elasticity [1][2]. - The newly launched FOF product, 富国智汇稳健, aims to meet market demand for both opportunity capture and risk control [1][2]. Group 3: FOF Product Strategy - The 富国智汇稳健 FOF employs a "bottom warehouse + strategy + risk control" framework, ensuring a robust investment strategy [2]. - The product focuses on a "fixed income base" by selecting high-performing bond funds to provide a safety net for the portfolio [2]. - It utilizes a "multi-asset + multi-strategy" approach, flexibly allocating to quality funds in sectors influenced by policy changes and technological transformations, while also including gold and REITs for volatility hedging [2]. Group 4: Fund Manager Expertise - The appointed fund manager, 王登元, has 14 years of experience in the securities industry and 6 years in FOF management, employing a "three-dimensional" selection framework [3]. - The 富国基金 has a comprehensive research and investment system, supporting the product with a balanced approach across fixed income, active equity, and quantitative investments [3]. - Previous products managed by 王登元 have demonstrated significant excess returns, with yields of 10.89% and 15.93% compared to their respective benchmarks [3]. Group 5: Wealth Management Initiative - The 富国智汇稳健 FOF is part of the China Bank's "慧投计划," which aims to provide a clear risk-return profile and targeted wealth management options [4]. - The "慧投计划" encompasses a variety of asset classes, including stocks, bonds, and commodities, utilizing different strategies to identify investment opportunities [4]. - The initiative has officially launched, with the 富国智汇稳健 FOF being the first product available for sale, designed to navigate uncertain market conditions through professional multi-asset allocation [4].

Core Insights - The FOF (Fund of Funds) market has seen significant growth, with the number of FOF funds reaching 67 and total fundraising amounting to 72.426 billion yuan in 2025, a nearly tenfold increase year-on-year [3] - The investment strategy of FOF funds has shifted from a "picking basket" approach to a more stable value-added allocation, focusing on a "fixed income foundation, equity advancement" structure [3][5] - The launch of the "Hui Tou Plan" by Bank of China aims to provide a clear risk-return profile for wealth management, incorporating various asset classes [4] Market Trends - The FOF fund market's expansion is driven by changes in market conditions, product strategy upgrades, and evolving investor demands [5] - Low interest rates have decreased the attractiveness of traditional investments, prompting stable funds to seek new investment directions [5][6] - The A-share market's strength has increased risk appetite for equity capital, leading to a balanced investment approach between bonds and equities [5] Investment Strategy - The newly launched FOF fund, "Fuguo Zhihui Stable 3-Month Holding Period Mixed FOF," is a bond-oriented fund that aims for stable returns through diversified asset allocation [4][8] - Wang Dengyuan, the fund manager, employs a "three-dimensional" model for selecting bond funds, focusing on historical performance, risk-return analysis, and fund manager capabilities [8] - The fund also incorporates a 3% gold commodity return into its performance benchmark, reflecting a positive outlook on gold as a long-term investment [9] Company Capabilities - Fuguo Fund has established a multi-asset investment team since 2017, focusing on strategy investment and research to achieve long-term stable returns [10] - The company employs a platform-based operation model that enhances collaboration among teams, allowing for more efficient investment opportunity discovery [10][11] - Fuguo Fund's development strategy includes fixed income, active equity, and quantitative investment, providing comprehensive support for FOF investments [11]