The construction of FOF is mainly divided into two steps. The first step is to allocate strategic assets, and the second step is to select funds. Asset allocation is done from the perspective of qualitative and quantitative analysis. Qualitative analysis is to analyze macro fundamentals first and make some strategic asset allocation. Funds are also a combination of qualitative and quantitative. But the specific quantitative fund selection may be people-oriented, combining performance and style to select fund managers.