Core Viewpoint - The global economy is undergoing significant adjustments with widespread implementation of loose monetary policies, leading to a low-interest-rate environment and lackluster returns from traditional fixed-income assets. In this context, Great Wall Fund has launched the "Fixed Income +" product, the Great Wall Fengze Bond Fund, to help investors pursue stable growth in a low-interest environment [1][2]. Group 1: Fund Strategy and Composition - The "Fixed Income +" strategy primarily focuses on bond assets while seeking to enhance returns through equity assets, showcasing multiple allocation values. It aims to achieve a synergistic effect where the combination of different low-correlated assets results in greater overall returns [1]. - The Great Wall Fengze Bond Fund allocates over 80% of its assets to bonds and 5%-20% to equity assets. The fund emphasizes selecting high-quality pure bonds as the underlying assets, particularly focusing on medium to short-duration interest rate bonds and high-grade corporate bonds to build a stable base [2]. - The "+" component of the fund involves moderate participation in equity markets through convertible bonds and stocks, with a focus on low-volatility dividend stocks and undervalued convertible bonds, aiming to enhance overall returns while controlling risk [2]. Group 2: Fund Management and Performance - The proposed fund manager, Zhang Lin, has over 11 years of experience in the securities industry and more than 8 years in public fund management, demonstrating strong capabilities in asset allocation across various asset classes [2]. - As of September 30, 2025, Zhang Lin's previous fund, Great Wall Stable Income A, achieved a one-year return of 7.48%, significantly outperforming the benchmark return of 4.27%. The fund also exhibited a Sharpe ratio of 2.31, surpassing the average of 1.34 for similar funds [2]. - Great Wall Fund has been actively enhancing its fixed-income capabilities, receiving a five-star rating for its overall bond investment ability from Guotai Junan Securities and a three-year five-star rating for its first-level bond fund management from Jiaan Jinxin [2].