Core Insights - The report focuses on the performance of three types of investment products: "Fixed Income + Equity," mixed, and equity products [1] Group 1: Overall Performance - The average net value growth rate for "Fixed Income + Equity" public investment products with a 2-3 year investment period is 3.11%, with an average maximum drawdown of 0.64% over the past year [6] - Among 743 products in this category, 75.91% achieved positive returns in every quarter over the past year [6] Group 2: Highlighted Product Analysis - The top three performing products in the "Fixed Income + Equity" category are: 1. "京华远见鑫益盈金61号" by 北银理财 with a net value growth rate of 8.66% 2. "璀璨人生成就系列（共享）2022年280期" by 青银理财 with a growth rate of 7.43% 3. "幸福99丰裕固收多资产23005期" by 杭银理财 with a growth rate of 7.30% [7] Group 3: Mixed Product Performance - The average net value growth rate for mixed public investment products with a holding period of less than 3 months is 1.51% [12] - The top three products in this category are: 1. "富利兴成阿尔法一个月持有期2号A" by 兴银理财 with a growth rate of 11.87% 2. "富利兴易智享量化指增3个月最短持有期1号A" by 兴银理财 with a growth rate of 10.39% 3. "兴睿优选进取" by 兴银理财 with a growth rate of 7.54% [12] Group 4: Equity Product Performance - The average net value growth rate for equity investment products over the past year is 18.93%, with a maximum drawdown of 13.27% [16] - Notable products include: 1. "天工日开6号（微盘成长低波指数）" by 华夏理财 with a growth rate of 63.85% 2. "天工日开2号（数字基础设施指数）" by 华夏理财 with a growth rate of 44.19% 3. "天工日开5号（AI算力指数）" by 华夏理财 with a growth rate of 41.14% [16]

Core Viewpoint - The article highlights the performance of public wealth management products with a "fixed income + equity" strategy over a 2-3 year investment period, showcasing those that achieved positive returns in the past year, with a focus on specific products that exceeded a 5% net value growth rate [4]. Group 1: Performance Summary - As of May 29, 2025, six products in the "fixed income + equity" category achieved a net value growth rate of over 5% in the past year [4]. - The top-performing products include "璀璨人生田园系列(共享)2023年001期" and "璀璨人生成就系列(共享)2022年280期," with growth rates of 6.01% and 5.02%, respectively [4]. - The listed products demonstrated stable performance, with maximum drawdowns generally below 2% [4]. Group 2: Product Analysis - The "璀璨人生田园系列(共享)2023年001期" is a secondary (medium-low risk) closed-end fixed income product with a benchmark performance of 5.4% (annualized) and a three-year lock-up period [5]. - This product primarily invests in fixed income assets, supplemented by equity assets, utilizing strategies such as asset allocation, equity timing, and sector rotation to enhance returns and reduce volatility [5]. - As of the end of Q1 2025, approximately 90% of the product's holdings were in fixed income, focusing on non-standard assets and bonds with medium to high credit ratings [5]. Group 3: Market Strategy - In Q4 2024, the product increased its allocation to Hong Kong stock ETFs, with a holding percentage of 9.36% by the end of 2024, benefiting from the rise of the Hang Seng Technology Index [6]. - The financial sector's stocks have been a significant driver of the product's net value growth, particularly in a low-interest-rate environment [6]. - 青银理财 has actively innovated its product offerings, launching a series of fixed income products with embedded options in March 2025 to capture market opportunities and enhance yield flexibility [6].