Group 1 - The FOF (Fund of Funds) market has seen a significant surge in new issuances this year, with a 166.67% increase in the number of new FOFs and a staggering 1346.12% increase in fundraising scale compared to the previous quarter, indicating growing investor recognition [1] - FOFs originated in the late 1980s in the United States and have played a crucial role in the U.S. pension system through their dual advantages of "fund selection + asset allocation" over the past 50 years [1] - In China, FOFs are still in the development stage but are gaining popularity among investors due to their convenience, reasonable asset allocation, and suitability for long-term, stable pension investment needs [1] Group 2 - By 2035, China is expected to enter a phase of severe aging, leading to an increasing demand for pension investments, with FOFs emerging as a preferred choice for investors due to their multiple advantages [1] - FOFs primarily invest in a basket of funds and utilize a large asset allocation strategy for diversification, allowing for dynamic adjustments based on market conditions to navigate complex and changing market environments [1] Group 3 - Since 2020, the FOF fund index has increased by 17.44%, outperforming the Wande Balanced Mixed Fund Index and the CSI 300 Index, while maintaining a lower annualized volatility of 7.31% compared to the same indices, demonstrating a strong ability to balance returns and risks [2] - The Minsheng Jianyin's Kangning Stable Pension Target One-Year Holding Period FOF is designed for investors with pension needs or those seeking long-term stable investments, with over 80% of its assets invested in funds and a maximum equity asset allocation of 30% [2] - This fund employs a target risk strategy to optimize the investment process, limiting expected volatility and downside risk, which has resulted in a notable performance, ranking 8th among 77 similar funds in terms of net asset value growth rate over the past year [2]