Core Viewpoint - In a low interest rate environment, banks are lowering deposit rates, leading to a decline in money market fund yields, prompting a search for alternative low-risk investment options [1] Group 1: Investment Opportunities - The upcoming Changcheng Ruida Multi-Asset Stable 3-Month Holding Period Mixed FOF aims to provide a new choice for investors with a global and cross-asset perspective [1] - The fund adopts a multi-asset allocation strategy with a focus on stability, selecting high-quality bond funds to pursue long-term stable returns while actively capturing investment opportunities in diverse domestic and international markets [1][2] - The fund's equity assets will not exceed 30% of total assets, allowing for flexible allocation to QDII funds, public REITs, gold ETFs, and other products to diversify income sources and mitigate overall portfolio risk [1] Group 2: Performance Metrics - Historical data indicates that FOFs can effectively reduce net value volatility and are expected to achieve good long-term returns, with the Wind data showing an annualized return of 3.60% for the Wande Hybrid FOF Index since 2020, outperforming the Wande Pure Bond Index (3.08%) and the CSI 800 Index (2.76%) [2] - The annualized volatility of the Wande Hybrid FOF Index is 4.57%, which, while higher than the Wande Pure Bond Index (0.91%), is significantly lower than the CSI 800 Index (18.54%), demonstrating a favorable risk-return balance [2] Group 3: Differentiation from Traditional Products - The Changcheng Ruida Multi-Asset Stable FOF differs from traditional "fixed income +" products by having a broader investment scope, primarily investing in public funds (at least 80%), and potentially covering various asset classes such as A-shares, A-bonds, Hong Kong stocks, US stocks, US bonds, gold ETFs, and commodity funds [2][3] - The fund's diversified revenue sources are expected to provide a different net value trend compared to traditional domestic stock and bond "fixed income +" products, offering investors more diverse investment choices [2] Group 4: Risk Management - The fund employs a quantitative model for layered risk control and dynamic optimization, aiming to balance return elasticity and risk management [3] - After establishment, the fund will create several CPPI sub-portfolios and gradually release risk investment positions based on a risk budget model, allowing for dynamic adjustments and rebalancing of asset allocation ratios to capture returns while controlling risks [3]