A new paradigm for diversified asset allocation is emerging as interest rate trends shift downward, diminishing the appeal of traditional deposits, wealth management products, and fixed-income investments. This has increased investor demand for low-volatility, multi-asset, and easily understandable allocation solutions, positioning FOF products as increasingly vital tools for portfolio construction.
Against this backdrop, Yinhua Fund's suite of FOF offerings is set to expand with the launch of the Yinhua Multi-Strategy Stable Growth Three-Month Holding Period Hybrid (ETF-FOF) (Class A: 027862, Class C: 027863). This new fund provides investors with a fresh instrument for accessing diversified assets.
An ETF-FOF is a type of fund of funds that primarily invests in ETFs as its underlying assets. Compared to a single equity fund or a standalone ETF, an ETF-FOF aims to diversify risk by combining various ETFs across equities, bonds, commodities, and international markets. This approach seeks to create a more balanced product profile that considers return objectives, volatility control, and investor experience, offering strong comprehensive asset allocation characteristics.
Taking the newly launched Yinhua Multi-Strategy Stable Growth Three-Month Holding Period Hybrid (ETF-FOF) as an example, it selects targets across different major asset classes including bonds, A-shares, U.S. stocks, gold, and commodities. Through a globally-minded, multi-asset allocation structure, the fund strives to avoid the pitfalls of a single investment strategy that may not adapt to complex and changing market conditions. Specifically, the fund pursues stable returns while aiming to lower portfolio volatility. It also allocates appropriately to various risk assets, with investments in stocks, equity funds, and hybrid funds comprising 10% to 50% of the fund's assets, seeking to enhance returns and increase portfolio flexibility.
ETF-FOFs place greater emphasis on a fund manager's asset allocation capabilities. The proposed fund manager for the Yinhua Multi-Strategy Stable Growth Three-Month Holding Period Hybrid (ETF-FOF), Song Zuqiang, is skilled in utilizing quantitative methods for asset allocation and fund investment, and is proficient in applying non-linear thinking from derivatives to design corresponding trading strategies.
Currently, ETF-FOFs, with their advantage of multi-asset diversification, are gradually becoming a new investment choice. Investors interested in seeking an optimal solution for diversified allocation may wish to note the launch of the Yinhua Multi-Strategy Stable Growth Three-Month Holding Period Hybrid (ETF-FOF) (Class A: 027862, Class C: 027863).
Risk Disclosure
Fee Structure for Yinhua Multi-Strategy Stable Growth Three-Month Holding Period Hybrid (ETF-FOF)
Fee Type
Amount (M) / Holding Period (N)
Charge Method / Rate
Class A Subscription Fee
M < 5 million yuan
0.50%
M ≥ 5 million yuan
Fixed charge per transaction, 1000 yuan/transaction
Class A Purchase Fee
M < 5 million yuan
0.50%
M ≥ 5 million yuan
Fixed charge per transaction, 1000 yuan/transaction
Class A / Class C Redemption Fee
N < 180 days
0.50%
N ≥ 180 days
0
Management Fee
0.75% per annum
Custody Fee
0.15% per annum
Class C Sales Service Fee
0.40% per annum
Note: For details on the fee structure, please refer to the Fund Product Key Facts Statement. Data is as of June 24, 2026. Please refer to the latest fund announcements and legal documents at the relevant time.
Song Zuqiang's Resume: Holds a Master's degree. Previously worked at Wanlian Securities, Hundsun Juyuan Data Co., Ltd., Huabao Securities Research & Innovation Department, and Minsheng Securities Asset Management Division. Joined Yinhua Fund in May 2024 and currently serves as Investment Manager (Fund Investment Advisory Business) / Fund Manager in the FOF Investment Management Department. Currently manages the following fund: Yinhua Multi-Strategy Stable Three-Month Holding Period Hybrid (FOF) A/C (since November 25, 2025). Performance of funds currently managed by Song Zuqiang: Yinhua Multi-Strategy Stable Three-Month Holding Period Hybrid (FOF) A was established on November 25, 2025. Its net asset value growth rate from the fund contract effective date to the present is 0.94%, compared to a benchmark return of 0.68% for the same period. Yinhua Multi-Strategy Stable Three-Month Holding Period Hybrid (FOF) C was established on November 25, 2025. Its net asset value growth rate from the fund contract effective date to the present is 0.80%, compared to a benchmark return of 0.68% for the same period. (Data source: Fund periodic reports; as of March 31, 2026).
Investing involves risk, and caution is required. Funds are long-term investment tools whose primary function is to diversify investments and reduce the specific risk associated with investing in a single security. Unlike financial instruments such as bank savings that can provide fixed income expectations, when you purchase a fund product, you may share in the investment returns generated by the fund based on your held units, but you may also bear the losses resulting from the fund's investments.
Before making an investment decision, please carefully read the fund contract, fund prospectus, fund product key facts statement, and other product legal documents, as well as this risk disclosure. Fully understand the risk-return characteristics and product features of this fund, seriously consider all risk factors associated with this fund, and based on your own investment objectives, investment horizon, investment experience, and asset status, fully consider your own risk tolerance. Make a rational judgment and a prudent investment decision based on an understanding of the product situation and suitability opinions.
In accordance with relevant laws and regulations, Yinhua Fund Management Co., Ltd. provides the following risk disclosures:
I. Types of Fund Risks
Depending on the investment object, funds are classified into different types such as equity funds, hybrid funds, bond funds, money market funds, fund of funds (FOF), and commodity funds. The return expectations and degree of risk you bear will differ depending on the type of fund you invest in. Generally, the higher the expected return of a fund, the greater the risk you assume.
II. Operational and Market Risks
Funds may face various risks during investment operations, including market risks, as well as the fund's own management risks, technical risks, and compliance risks. Large-scale redemption risk is a risk unique to open-end funds. This occurs when the net redemption applications for a single open day exceed a certain percentage of the fund's total units (10% for open-end funds, 20% for定期 open-end funds, except for special products specified by the China Securities Regulatory Commission). In such cases, you may not be able to redeem all applied fund units in a timely manner, or your redemption proceeds may be delayed.
III. Understanding Investment Methods
You should fully understand the differences between fund regular investment plans (such as dollar-cost averaging) and savings methods like installment savings. Regular investment plans are a simple and easy-to-use investment method that guides investors towards long-term investing and averaging investment costs. However, they do not avoid the inherent risks of fund investment, do not guarantee that investors will make a profit, and are not equivalent substitutes for savings.
IV. Special Product Risk Disclosures
1. The fund contract stipulates a minimum holding period for fund units. During this minimum holding period, you will face liquidity constraints due to the inability to redeem or sell fund units. Please refer to the "Risk Disclosure" chapter in the fund prospectus for details.
2. This fund may invest in securities eligible for the Stock Connect program with Hong Kong and will face risks specific to the Hong Kong Stock Connect mechanism due to differences in the investment environment, investment targets, market systems, and trading rules.
V. Fund Manager Commitments and Disclaimers
The fund manager commits to managing and utilizing the fund's assets with honesty, credit, diligence, and responsibility, but does not guarantee that this fund will necessarily be profitable, nor does it guarantee a minimum return. The past performance and net asset value level of this fund do not indicate its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of this fund's performance. Yinhua Fund Management Co., Ltd. reminds you of the "buyer beware" principle in fund investment. After making an investment decision, investment risks arising from the fund's operational status and changes in the fund's net asset value shall be borne by you. The fund manager, fund custodian, fund sales institutions, and related organizations do not make any promises or guarantees regarding fund investment returns.
VI. Fund Registration and Disclosure
This fund is applied for by Yinhua Fund Management Co., Ltd. in accordance with relevant laws, regulations, and agreements, and is registered with the permission of the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"). The fund contract, fund prospectus, and fund product key facts statement for this fund have been publicly disclosed on the CSRC's Fund Electronic Disclosure website http://eid.csrc.gov.cn/fund and the fund manager's website www.yhfund.com.cn. 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 without risk.