Core Viewpoint - The article emphasizes the importance of diversified asset allocation in navigating market uncertainties, suggesting that a multi-asset approach can serve as a "ark" to weather market volatility [1]. Group 1: Evolution of Multi-Asset Investment - E Fund has developed a comprehensive multi-asset investment research system over nearly 20 years, evolving from "fixed income+" to a multi-asset and multi-strategy approach [2]. - The firm began its multi-asset investment journey in 2006, launching its first mixed-asset fund in 2013, and established a dedicated multi-asset investment division in 2020 [3]. - As of Q3 2025, E Fund's multi-asset management scale has surpassed 1 trillion yuan, with over 160 billion yuan in public fund management, leading the industry [4]. Group 2: Investment Strategy and Structure - E Fund's multi-asset strategy involves a systematic combination of various asset classes, emphasizing that each asset type plays an equally important role in the portfolio [4]. - The investment process requires both top-down macro analysis and bottom-up asset evaluation, necessitating a comprehensive understanding of market dynamics [5][6]. - The firm has established a matrix management structure to enhance collaboration across different investment teams, ensuring a holistic approach to multi-asset investment [6][7]. Group 3: Research and Development - E Fund's research teams are organized into specialized groups focusing on asset allocation, equities, bonds, and alternative investments, allowing for in-depth analysis and strategy development [7]. - The firm promotes cross-departmental collaboration, enabling research resources to be shared and enhancing the overall investment process [8][9]. - A strong emphasis is placed on process management and closed-loop management to ensure effective investment decision-making and risk management [10]. Group 4: Diverse Product Offerings - E Fund has created a diverse product matrix catering to different risk and return profiles, including low, medium, and high volatility products [12]. - The firm’s low-volatility products strictly control equity exposure, while medium and high-volatility products allow for greater equity allocation to achieve higher long-term returns [12]. Group 5: Investment Personnel and Methodologies - E Fund has developed a generational talent pipeline, with experienced managers like Zhang Qinghua and Zhang Yajun leading the way in multi-asset investment strategies [14]. - Each fund manager employs distinct methodologies, such as Yang Kang's focus on "asymmetry" and Hu Wenbo's emphasis on mean reversion, to optimize portfolio performance [19][20]. - The firm aims to provide investors with diversified cross-asset solutions through a collaborative and evolving investment platform [21].