2. The Fund will hold a stock portfolio dominated by stocks with resource advantages in the medium and long term, and pay attention to the asset allocation of relevant industries and make appropriate timing. Adopt "top-down" asset allocation and industry allocation, and "bottom-up" active investment strategy of stock selection.
(1) asset allocation strategy
The Fund determines the allocation ratio of stocks, bonds and cash according to macroeconomic operation, fiscal and monetary policies, adjustment of national industrial policies and securities regulatory policies, market capital environment and other factors.
(2) stock allocation strategy
The Fund will grasp the changing law of resource value, analyze and judge the present situation and development of various resources, adjust the allocation ratio of various resource industries in a timely and appropriate manner, focus on investing in advantageous enterprises in various resource industries, and share the investment income brought about by the long-term value improvement of resources.
At the level of stock selection, the Fund selects listed companies with sustainable growth potential for investment according to the indicators such as return on net assets, expected PEG, cash flow per share of operating activities, net profit growth rate and industry status.
(3) Investment strategy of bonds and short-term financial instruments
The Fund's bond investment adopts active investment strategies, such as interest rate prediction, duration management, yield curve prediction, relative value evaluation, yield spread strategy, arbitrage trading strategy and leverage operation of positive and negative repurchase, in order to obtain more benefits than the bond market.