Whether China Merchants CSI Liquor Index A( 16 1725) can be held for a long time can be decided according to the actual investment situation of individuals. Any investment target (product) is an investment tool. Since it is a tool, there are conditions for its use. No product is very effective at any time and on any occasion. So investment should not be pursued once and for all. It is the most effective way to learn asset allocation and management.

1. index funds are suitable for allocation in the low index stage, because in the long run, the probability and space of index rise are large, and conversely, index funds are not suitable for allocation in the high index stage.

2. Leveraged index funds are very suitable for allocation at the stage of over-underestimation, not for allocation at the stage of high index, and not for long-term market allocation (because it is a kind of financing, it has time cost).

3. Bond funds and money funds are very suitable for allocation in the high index stage, but they are not suitable for allocation in the low index stage and are not suitable for allocation in the over-underestimated index stage, which will waste a good opportunity.

4. The old base cover with high discount and high dividend-paying ability is suitable for medium and high index stage configuration. At this time, they are both offensive and defensive.

As the index changes from undervaluation to overvaluation, and then from overvaluation to undervaluation, in addition to adjusting the proportion of positions, we should also pay attention to the attribute conversion of chips held. The attributes mentioned here refer to: offensive, defensive and both offensive and defensive. The order of the above-mentioned funds' attributes from offensive to defensive is: leveraged index fund, index fund, closed-end fund, bond fund/money market fund.

Reply time: 202 1- 12-03. Please refer to the latest business changes announced by Ping An Bank in official website.