Core Insights - Fund of Funds (FOF) is increasingly becoming a preferred choice for investors seeking long-term stable returns due to its diversified asset allocation capabilities and risk mitigation features [1] - As of the second quarter of 2025, the total management scale of 519 public FOFs reached 165.06 billion, representing a nearly ninefold increase from the initial six FOFs launched eight years ago [1] - The maximum drawdown of the CSI FOF Index over the past year was -5.92%, compared to -14.32% for the CSI Equity Fund Index, highlighting the risk management effectiveness of FOFs [1] Company Insights - Minsheng Jianyin's Stable Allocation FOF (Fund Code: 011580) has gained significant market attention since its establishment in 2021, focusing on providing a one-stop asset allocation solution for moderately risk-averse investors [1] - The product aims to alleviate the pain points faced by individual investors in asset allocation and holding processes by investing in a basket of high-quality funds, thereby achieving secondary risk diversification [1] - The fund is managed by Kong Siwei, who possesses extensive securities experience and a solid academic background, emphasizing risk control and asset rotation judgment [2] Investment Strategy - The Minsheng Jianyin Stable Allocation FOF covers multiple asset classes, including stocks, bonds, and commodities, aiming to achieve a dynamic balance between returns and risks across different market environments [2] - The product has demonstrated stable operations under Kong Siwei's management, achieving positive returns during the management period [2]