Core Insights - The newly established fund, E Fund Ruiyi Ying'an 6-Month Holding Mixed Fund of Funds (FOF), has raised over 5.8 billion yuan, marking it as the largest new fund in the fourth quarter and the fourth public FOF this year to exceed 5 billion yuan in fundraising [1][4]. Fund Details - The fund was officially established on November 18, 2023, with a total of 24,688 subscription accounts and a total fundraising scale of 58.48 billion units [4]. - The fund is managed by E Fund Management Co., Ltd. and is custodied by China Merchants Bank, which is part of the "TREE Long-term Profit Plan" [1][6]. Market Context - The public FOF issuance market has seen a resurgence, with 68 new public FOFs established this year, raising nearly 68 billion yuan, surpassing the total of the previous two years [10]. - Several other FOFs have also emerged as "explosive" products, including Huatai-PB Yingtai Stable 3-Month Holding FOF, which raised close to 5.6 billion yuan in just one day [11]. Investment Strategy - The E Fund Ruiyi Ying'an FOF is positioned as a low-volatility product, focusing on a stable investment style and primarily allocating assets to fixed-income investments while dynamically adjusting asset allocation based on market conditions [7]. - The fund's equity assets are limited to 5%-30% of total assets, with specific caps on investments in Hong Kong stocks and ETFs [6]. Industry Trends - The favorable performance of the equity market this year has contributed to the overall recovery of FOF performance, making these products attractive to investors in a low-interest-rate environment [12].

Core Viewpoint - The newly established fund, E Fund Ruiyi Ying'an 6-Month Holding Mixed Fund of Funds (FOF), has raised over 5.8 billion yuan, marking it as the largest new fund in the fourth quarter and the fourth public FOF of the year to exceed 5 billion yuan in fundraising [2][5]. Fund Information - The fund was officially established on November 18, 2015, with a total subscription of 24,688 accounts and a fundraising scale of 58.48 billion units [5]. - The fund is managed by E Fund Management Co., Ltd. and is custodied by China Merchants Bank, known as the "King of Retail" [2][6]. Fund Characteristics - The fund is positioned as a low-volatility product, with equity assets accounting for 5% to 30% of the total assets. Investments in Hong Kong Stock Connect stocks are limited to 50% of equity assets, while investments in Hong Kong Stock Connect ETFs can be up to 15% [7]. - The fund aims for long-term stable asset appreciation through a diversified asset allocation strategy, primarily focusing on fixed-income assets while dynamically adjusting asset allocation based on market conditions [7]. Market Trends - The public FOF issuance has shown signs of recovery this year, with 68 new public FOFs established, raising nearly 68 billion yuan, surpassing the total of the previous two years [10]. - Several "explosive" products have emerged this year, including the Huatai-PB Yingtai Stable 3-Month Holding FOF, which raised nearly 5.6 billion yuan in just one day [10][11]. Investment Strategy - The "TREE Long-term Profit Plan" by China Merchants Bank includes products with clear return and drawdown targets, aiming to achieve investment goals through strict management [11]. - The favorable performance of the equity market this year has contributed to the overall recovery of FOF performance, making these products attractive to investors in a low-interest-rate environment [11].