Zeng Hui, investment director of FOF Investment Department of Cathay Pacific Fund, said that managing FOF funds is a bit like "opening a restaurant."

"if stocks are compared to the raw materials of FOF products, then a single fund is equivalent to the semi-finished products of the restaurant, and what FOF has to do is to process the semi-finished products into finished products. This is a great test of the restaurant's collocation ability, that is, the ability to allocate assets. "

The raw materials come from the vast market. The stock selection of a single stock is very difficult, easy to rise and fall, may "dig gold", may also "step on the pit". For ordinary investors, it is not friendly enough.

Public offering funds are a bit like "semi-finished products". Compared with choosing stocks, the risk of choosing funds is much smaller. Fund companies usually have a better risk control mechanism and can choose stocks with better performance most of the time.

But by the end of the first quarter, there were nearly 12000 public offering funds in the market, making it difficult for investors to grasp the whole picture. And a single fund or a single stock is limited by its style, and investors are usually not advised to buy a fund hastily (even if the fund manager is very good).

The importance of asset allocation has become particularly significant in the structural market in recent years.

This is the significance of public offering of FOF as a "finished dish".

On the one hand, through qualitative and quantitative analysis, FOF funds fully analyze and research the whole market funds, select the funds suitable for the current market style, and carry out continuous post-investment tracking and management to help investors pack the whole market boutique funds with one click.

On the other hand, FOF funds through in-depth research and tracking of various types of assets, combined with professional judgment on the market, for different risk tolerance to create specific risk preference products, scientific collocation of many types of assets.

In addition to traditional equity and debt assets, FOF products can also provide investors with one-click allocation of commodity assets and overseas assets, which can provide a more comprehensive "treasure chest".

To process a "semi-finished product" into a "finished product", the most test is the skill and heat of the restaurant chef.

You can take a look at the performance of Cathay Pacific Fund Zeng Hui.

The steady income of Cathay Pacific managed by Zeng Hui has a performance of 8% in the past year.Onlineliveroulettecasino.5%, over the same period, the Shanghai Composite Index fell-3.96%, surpassed the Shanghai Composite Index by 12.46%, and ranked 1max 62 in the same category.

(similar funds refer to Galaxy Securities Fund three-tier classification-mixed FOF (equity assets 0-30%) (category A), which Zeng Hui began to manage on December 28, 2023)

In Zeng Hui's investment philosophy, "control withdrawal first" is regarded as the first choice, which is the bottom line and the foundation. Therefore, when the investment falls, the invincible position is the first hand. Then, under the "over-rise-over-fall" investment framework, asset allocation takes seven steps to grow lotus step by step, making a homeopathic layout in the ups and downs of the market to seek the way to win.

Zeng Hui's FOF investment has a "dichotomy":OnlineliveroulettecasinoHis position is divided into core fund and satellite fund, the former focusing on controlling withdrawal and the latter focusing on pursuing flexibility-so as to achieve the dual goals of controlled withdrawal and stable returns.

Zeng Hui also talked about his views on the future at the recent summer strategy meeting.

"looking forward to the second quarter, we believe that with the improvement of gold, including the start of Hang Seng Technology, in terms of the industrial chain, there is a very subtle relationship between Hang Seng Technology and the New semi-Optical Army. The rise of Hong Kong stocks actually means that the new semi-Light Army, which may have been immersed in it for more than two years, will also slowly begin to rebound. We are now slowly starting to pay attention to the upstream lithium batteries, including medicine, which have also fallen for a long time. We are probably optimistic about the direction of Hang Seng Technology, including Hang Seng Pharmaceuticals, including gold, including lithium batteries, including real estate, and so on. "

It is worth noting that in the Cathay Pacific Fund, the risk characteristics of each FOF fund managed by Zeng Hui are different, and the specific strategies corresponding to the "dichotomy" are also different, so investors should match their own risk preference when choosing.

It can be said that Zeng Hui invested FOF in this "small restaurant" and has already opened it vividly and tastefully. For investors, whether for allocation or pension, the demand for various risk preferences can be met by various positions of fund products.

Cathay Pacific preferred pilot holds hybrid FOF for one year (013279)

Cathay Pacific Industry rotating Stock FOF (Class A: 501220 Category C: 014197)

Cathay Pacific steady income holds partial debt mixed FOF for one year (014067)

Guotai Minan pension 2040 three-year target date FOF (A: 007231 Y: 017302)

Cathay Pacific Ruiyue holds Bond FOF for 3 months (016644)

Note: Opinions are for reference only and do not constitute investment advice or commitment. Cathay Pacific's stable earnings performance data sources: Galaxy Securities and Wind. As of April 10, 2024, the same category refers to Galaxy Securities's hybrid FOF (equity assets 0-30%)(Class A), with a specific ranking of 2/60 (4/12 Weekly ranking), my country's stock market has a relatively short operating time, and the short-term rise and fall of the index are only for analysis and reference and do not predict future performance. The fund's past performance does not predict future performance. The partial debt hybrid FOF index code is 885075.WI. As of the end of 2023, Zeng Hui's products include Cathay Pacific Preferred Pilot's one-year holding FOF, Cathay Pacific's industry rotation FOF, Cathay Pacific's steady income holding FOF for one year, and Guotai Minan Pension 2024 three-year FOF; the performance/comparison benchmarks of the above products are listed as follows: Cathay Pacific Preferred Pilot One-Year Holding Period Hybrid Fund (FOF)(Establishment date 2022/01/05, and the performance benchmark is 60%* Shanghai and Shenzhen 300 Index yield *+30%* China Securities Composite Bond Index yield +10%* Hang Seng China Enterprises Index yield (valuation exchange rate adjustment), Zeng Hui has managed since 2023/11/10, Zhou Luoyan has managed since 2022/01/05):-14.27%/-12.84%,-15.70%/-6.62%; Cathay Pacific industry rotates one-year closed operation stocks (FOF-LOF) A (Establishment date 2022/07/19, performance benchmark is 80%* Shanghai and Shenzhen 300 Index yield +20%* China Securities Composite Bond Index yield, Zeng Hui has managed it since 2023/12/28):-1.81%/-7.61%,-13.59%/-8.22%; Cathay Pacific's steady income one-year holding period hybrid fund in fund (FOF)(Establishment date 2022/07/05, and the performance benchmark is 85%* CSI Composite Bond Index Yield +10%* Shanghai and Shenzhen 300 Index Yield +5%* Hang Seng China Enterprise Index Yield (valuation exchange rate adjustment), Zeng Hui has been under management since 2023/12/28, Zhou Luoyan has been under management since 2022/07/05):-2.42%/-0.46%,-0.97%/2.34%; Guotai Min 'an Pension Fund holds mixed (FOF) A in 2040 (Establishment date 2019/07/16, performance benchmark is 53%*(Shanghai and Shenzhen 300*95%+ Hang Seng China Enterprises Index *5%)+47%* China Securities Comprehensive Bonds, Zeng Hui has managed it since 2023/12/28, Zhou Luoyan has managed it since 2019/08/23): 6.09%/4.88%，21.21%/15.60%，4.98%/-0.62%，-14.30%/-9.92%，-7.04%/-3.88%。The market is risky and investment needs to be cautious.