Core Insights - The article discusses the increasing demand for asset reallocation among residents towards "stable appreciation + yield elasticity" in a low interest rate environment, highlighting the importance of "fixed income + options" strategies [4][8] - It emphasizes the performance of "fixed income + options" products, which have shown positive returns in a volatile market, with an average net value growth rate of 2.30% over the past three months [4][6] Product Performance - As of November 5, 2025, there are 173 existing "fixed income + options" products, all of which achieved positive returns in the last three months [4][6] - The top-performing product, "Fengli Xindong Multi-Strategy Global - Qianchao Closed-end No. 1A," had a net value growth rate exceeding 4%, while the second product, "Fengli Xindong Multi-Strategy Global Configuration Closed-end No. 5B," achieved a growth rate of 3.93% [4][6] Investment Strategy - The leading product employs a conservative income strategy, controlling interest rate and credit exposure to maintain stable returns, while utilizing European call options linked to the Qianchao Index [5][7] - The Qianchao Index encompasses a broad range of global assets, including bonds, stocks, and commodities, and is designed to provide a quantitative strategy based on risk parity and momentum principles [6][7] Risk Management - The "Fengli Xindong Multi-Strategy" series combines stable debt assets with limited-loss option structures, effectively controlling downside risk while allowing for potential high returns when linked assets perform well [7][8] - The maximum loss from the option structure is limited to the option premium, theoretically securing the maximum downside risk while enabling significant upside potential [8]