The investment targets of the Fund include legally issued and listed stocks in China (including small and medium-sized board, Growth Enterprise Market and other stocks approved by China Securities Regulatory Commission), stock index futures, warrants, bonds and other fixed-income financial instruments (including government bonds, central bank bills, financial bonds, corporate bonds, corporate bonds, subordinated bonds, local government bonds, government-supported institutional bonds, government-supported bonds, medium-term notes and convertible bonds (including separately traded convertible bonds). Ultra-short-term financing bills, SME private debt, asset-backed securities, bond repurchase, bank deposits, money market instruments, etc. ) and other financial instruments that the China Securities Regulatory Commission allows the fund to invest (subject to the relevant provisions of the China Securities Regulatory Commission).
If the future laws, regulations or regulatory agencies allow the Fund to invest in other varieties, the fund manager can include them in the investment scope after performing appropriate procedures, and the relevant investment ratio restrictions shall be implemented according to the regulations in force at that time. The fund manager shall, within 6 months from the effective date of the fund contract, make the investment portfolio ratio of the fund conform to the above-mentioned relevant provisions.
The Fund adopts an optimized fixed proportion portfolio insurance strategy (optimized CPPI) in asset allocation. CPPI strategy is an internationally accepted portfolio insurance strategy, and optimizing CPPI strategy is the optimization of CPPI strategy. Through financial engineering technology and quantitative analysis, it dynamically adjusts the proportion of risky assets and stable assets in the portfolio according to market fluctuations, so as to ensure that the value of the portfolio after a period of time is not lower than the predetermined target value, thus achieving the effect of enhancing the portfolio income.
The specific implementation of this strategy mainly includes the following steps: the first step is to determine the bottom line of fund value. According to the lowest target value and reasonable discount rate of the portfolio at the end of the period, set the number of stable assets that should be held at present, that is, the bottom line of the portfolio, and calculate the amount that the current net value of the portfolio exceeds the bottom line of value; The second step is to identify risky assets. Invest in risky assets (such as stocks) the amount equivalent to a specific multiple of the net value exceeding the value bottom line to realize the appreciation of the minimum target value. The third step is to adjust the risk multiplier and asset allocation ratio.