Generally speaking, in the development of 10, Gefei has built a skeleton and framework, and formed a comprehensive asset management system with the parent fund as the main product line, covering diversified fields such as private equity investment, real estate fund investment, equity investment, fixed income investment, portfolio management and family office. I mainly did three things:

First, from a single asset class to a multi-asset class;

Second, from the mainland of China to Hongkong, China, and then to Silicon Valley, New York and other places in the United States, we will build a global investment layout of Gefei, which can not only meet the global allocation needs of customers, but also learn from the investment experience of mature overseas markets and learn from China's investment market;

Third, from FOF to MOM to direct investment, gradually establish your own direct investment ability, and combine the parent fund with direct investment tools to build a long-term, stable and low-volatility investment strategy.

These three things can be said to provide a paradigm for the domestic asset management industry and contribute to the stable and healthy development of the industry.