In volatile market conditions, FOF products have become a focal point for investors.
Statistics show the total scale of FOFs has now surpassed 350 billion yuan, with new scale added this year exceeding 100 billion yuan.
Yinhua Huarui Multi-Asset Allocation Three-Month Holding Period Hybrid FOF
Yinhua Fund is adding another quality product to its FOF lineup—the Yinhua Huarui Multi-Asset Allocation Three-Month Holding Period Hybrid FOF (Class A: 027506, Class C: 027507) launches today, aiming to provide investors with a one-stop, professional asset allocation solution.
The Rise of Multi-Asset Allocation
Behind the expansion of public fund FOF scale, the concept of "multi-asset allocation" is gaining widespread acceptance.
Looking at the performance of global major asset classes over the past decade, no single asset has consistently outperformed, as all asset types exhibit cyclical effects.
Relying solely on a single asset class makes it difficult to achieve long-term, stable returns; reasonable and scientific multi-asset allocation can effectively reduce the overall volatility of an investment portfolio and improve the investment experience.
The secondary diversification advantage of FOFs aligns perfectly with this concept.
Product Strategy of the New FOF
As a hybrid FOF product with a bias towards bonds, the newly launched Yinhua Huarui FOF seeks investment opportunities in assets such as Chinese bonds, A-shares, Hong Kong stocks, U.S. stocks, and gold, striving to balance risk and return for the portfolio.
Specifically, the bond portion will focus on pure bond funds, aiming to secure relatively stable foundational returns.
Between 5% and 30% of the fund's assets will be invested in equity assets such as stocks, equity funds, and hybrid funds, to pursue potential excess returns.
Manager's Expertise and Methodology
FOF products place high demands on a fund manager's asset allocation capabilities.
Public information shows that Wang Jiapeng, the proposed fund manager for the Yinhua Huarui FOF, primarily focuses on major asset allocation, portfolio investment, and fund product research.
In terms of investment methodology, Wang Jiapeng employs a three-step approach: "strategic allocation → tactical allocation → fund selection."
Centered on strategic allocation and guided by cyclical thinking, this method involves dynamically allocating assets and strategies based on balanced investing, and enhancing specific strategies through a fund selection model to strive for excess returns relative to the benchmark.
Benefiting from a leading investment research system, the performance of Wang Jiapeng's managed products has been outstanding.
His representative product, the Yinhua Huafeng Three-Month Holding Period Hybrid FOF, has achieved a return of 4.44% since its inception, outperforming its benchmark by 3.85%.
Current Market Context
Currently, in an environment of low interest rates and accelerated movement of deposits, bond-biased FOF products may be an excellent choice for low-risk preference capital.
Investors may consider the newly launched Yinhua Huarui Multi-Asset Allocation Three-Month Holding Period Hybrid FOF (Class A: 027506, Class C: 027507) to seek opportunities in global multi-asset allocation.
Fee Structure
The fee details for the Yinhua Huarui Multi-Asset Allocation Three-Month Holding Period Hybrid FOF are as follows.
For Class A shares, the subscription fee is 0.50% for amounts below 5 million yuan, and a fixed fee of 1,000 yuan per transaction for amounts of 5 million yuan or more.
The purchase fee structure is identical to the subscription fee.
The redemption fee for both Class A and Class C shares is 0.50% for holdings less than 180 days, and 0% for holdings of 180 days or more.
The annual management fee is 0.60%, the annual custody fee is 0.10%, and the annual sales service fee for Class C shares is 0.40%.
Manager Profile
Wang Jiapeng holds a Master's degree.
He previously worked at China Construction Bank Investment Management Co., Ltd. and joined Yinhua Fund Management Co., Ltd. in March 2023.
He currently serves as a Fund Manager/Assistant Fund Manager in the FOF Investment Management Department.
He currently manages the following funds: Yinhua Huali Balanced Selection One-Year Holding Hybrid (FOF) (since December 16, 2024), Yinhua Huafeng Three-Month Holding Period Hybrid (FOF) A/C (since January 22, 2025), Yinhua Juxiang Multi-Asset Allocation Three-Month Holding Period Hybrid (FOF) A/C (since November 17, 2025), and Yinhua Huayuan Multi-Asset Allocation Six-Month Holding Period Hybrid (FOF) A/C (since February 10, 2026).
Investment Risk Disclosure
Investing involves risks.
A fund is a long-term investment tool whose primary function is to diversify investments and reduce the specific risks associated with investing in a single security.
Unlike financial instruments like bank savings that can provide fixed income expectations, when you purchase a fund product, you may share in the investment gains or bear the losses from the fund's investments.
Before making an investment decision, please carefully read the fund contract, prospectus, fund product summary, and other legal documents, as well as this risk disclosure statement.
Fully understand the risk-return characteristics and product features of this fund, carefully consider all risk factors, and based on your own investment objectives, time horizon, experience, and financial situation, fully assess your risk tolerance.
Make a rational and prudent investment decision based on an understanding of the product and appropriate sales advice.
Funds are categorized into different types such as equity funds, hybrid funds, bond funds, money market funds, fund of funds, and commodity funds based on their investment targets.
Investing in different types of funds yields different return expectations and involves varying degrees of risk.
Generally, the higher the expected return of a fund, the greater the risk you assume.
Funds may face various risks during investment operations, including market risk, as well as the fund's own management risk, technical risk, and compliance risk.
Liquidity risk is a risk specific to open-end funds, where you may be unable to redeem all fund shares applied for in a timely manner, or redemption payments may be delayed, if the net redemption applications on a single business day exceed a certain proportion of the fund's total shares.
Dollar-cost averaging is a simple investment method that guides investors toward long-term investment and averaging investment costs, but it does not avoid the inherent risks of fund investment, guarantee investor returns, or serve as an equivalent savings method.
Special product risks include: The fund contract stipulates a minimum holding period for fund shares; during this period, you will face liquidity constraints as you cannot redeem or sell the fund shares.
This fund may invest in Hong Kong Stock Connect eligible stocks and will face specific risks arising from differences in the investment environment, targets, market systems, and trading rules under the Hong Kong Stock Connect mechanism.
The fund manager commits to managing and utilizing fund assets with honesty, credit, diligence, and responsibility, but does not guarantee that this fund will be profitable or ensure a minimum return.
The past performance and net asset value of this fund do not predict its future performance, and the performance of other funds managed by the fund manager does not guarantee this fund's performance.
The "buyer beware" principle applies to fund investments; after making an investment decision, you bear the investment risks arising from changes in the fund's operational status and net asset value.
The fund manager, custodian, sales agency, and related institutions do not make any promises or guarantees regarding fund investment returns.
This fund is applied for registration by Yinhua Fund Management Co., Ltd. in accordance with relevant laws and regulations and is permitted for registration by the China Securities Regulatory Commission (CSRC).
The CSRC's registration of this fund does not indicate a substantive judgment or guarantee of its investment value, market prospects, or returns, nor does it indicate that investing in this fund is risk-free.