Core Viewpoint - The article emphasizes the importance of public funds in managing personal pension investments, highlighting the growth of pension fund products and the strategic approach taken by fund managers to ensure long-term stability and risk management [1][4]. Group 1: Market Overview - As of mid-2023, the number of personal pension funds has expanded to 297, with fund of funds (FOF) products reaching 212, indicating a growing market for pension investment [1]. - The total scale of FOF funds has reached 171.1 billion, reflecting a growth of nearly 40 billion, or 30%, since the beginning of the year [4]. Group 2: Investment Strategy - The investment framework consists of three layers: asset allocation based on expected returns and risks, selection of fund managers, and continuous strategy supplementation to manage risk exposure [2]. - The first layer focuses on long-term and short-term asset allocation, with a preference for precious metals due to better expected returns over the long term [2]. - The second layer involves selecting fund managers based on various effective investment strategies available in the A-share market [2]. Group 3: Risk Management - The approach to risk management includes contrarian thinking and emotional management, adjusting risk asset allocation based on market sentiment [3]. - Emphasis is placed on communication with investors to help them understand the relationship between short-term fluctuations and long-term goals [3]. Group 4: Investor Participation - Fund managers suggest three key factors for investors: maximizing tax benefits within the annual contribution limit of 12,000 yuan, selecting suitable products based on age and risk tolerance, and adhering to a long-term investment philosophy [5]. - Young investors are encouraged to choose funds with higher equity ratios, while those nearing retirement should opt for more conservative products [5].