On May 13th, the A-share ChiNext board achieved a significant breakthrough, with the ChiNext Index closing above 4,040 points, surpassing its 2015 high to set a new historical record. The Shanghai Composite Index and the Shenzhen Component Index also strengthened in tandem, while trading volume remained active across both markets, indicating a significant rise in market sentiment. As indices continue to reach new highs, investor divergence has intensified, with concerns about chasing highs and potential pullbacks conflicting with the fear of missing out. The core market focus has become whether it is the right time to enter.
The Fuguo Yinghe Youxuan 6-Month Holding Period Mixed FOF (Class A: 027119; Class C: 027120), currently in its issuance period, emphasizes diversified allocation without betting on a single direction. This approach is well-suited to the current market environment and allocation needs, offering investors a rational choice amidst the new highs.
Moving Beyond the High-Chasing Dilemma: FOFs Focus on Multi-Asset Opportunity Capture, Not Directional Bets Despite the broader market reaching new highs, a closer look reveals a mixed picture—high-growth sectors like technology and advanced manufacturing led the gains, while some traditional sectors experienced consolidation. Even within the broader technology theme, sub-sectors such as CPO and computing chips showed divergent performance, making precise timing extremely difficult for most investors.
This phenomenon of "significant gains on the same day with vast differences between sectors" epitomizes the A-share market this year. Following a better-than-expected Q1 GDP growth of 5.0% year-on-year, the late April Politburo meeting set a policy tone of "precision and effectiveness," indicating a shift away from broad stimulus towards targeted support for transformation and upgrading. In this context, structural divergence and accelerated rotation are likely to become the norm.
Betting on a single sector or index at this stage easily leads to the dual pitfalls of missing opportunities and facing drawdowns. FOFs, with their core strength in diversified allocation, are entering a timely issuance window.
Currently, many investors equate market entry with "chasing highs," confusing the core difference between "single-asset speculation" and "multi-asset allocation planning." The value of an FOF has never been about chasing a single asset's peak or avoiding market opportunities altogether. Instead, it lies in capturing opportunities through broad allocation across equities, bonds, commodities, and overseas markets, navigating asset rotations.
For instance, following increased volatility in single equity assets, an FOF can construct a portfolio that "uses equities to capture growth, fixed income to build safety, and gold to hedge risks." The benefit of this approach is that it allows investors to participate in the long-term dividends of sectors like technology and advanced manufacturing while using stable assets to smooth volatility, achieving a balance of "offensive strength and defensive resilience." This "win-through-allocation, not directional-betting" mindset perfectly addresses the pain point of "fearing to enter at new highs yet regretting missed opportunities," representing the most pragmatic allocation logic for the current environment.
A Timely Issuance Window: Building a Rational Allocation Strategy with Defense and Offense The currently issuing Fuguo Yinghe Youxuan 6-Month Holding Period Mixed FOF (Class A: 027119; Class C: 027120) employs a "multi-asset offense + high-quality pure bond fund defense" allocation framework. It aims to solve a practical problem: how to control drawdowns without sacrificing flexibility in a market characterized by rapid divergence and persistent external uncertainties.
The "defensive shield" involves building a solid, stable foundation. The product selects top-tier bond funds from those with outstanding long-term performance, choosing targets with small drawdowns and controllable volatility to form the core position. It simultaneously builds a volatility firewall from three aspects—interest rates, credit, and income sources—creating a solid earnings safety net and establishing a robust risk defense line for the portfolio.
The "offensive spear" involves flexibly capturing opportunities. The product can flexibly allocate to various assets such as high-growth A-share sectors, QDII funds, and gold ETFs, implementing a diversified layout across markets and categories to seize structural opportunities within market trends. It is not confined to a single sector nor reliant on a one-sided market trend. Through diversified dispersion, it continuously creates value across the rotation of different assets.
The effective implementation of diversified allocation also relies on professional investment research and risk control support. The product is set to be managed by Shi Jing, who has 19 years of securities industry experience and 7 years of public fund FOF management expertise, specializing in major asset allocation and steady operation. It is backed by the 27-year investment research heritage of Fuguo Fund, with coordinated support from its "three pillars" of fixed income, equities, and quantitative strategies, providing comprehensive support from macro analysis to fund selection. In the fund selection process, fixed-income-biased funds are evaluated using a "three-dimensional integrated" system, while equity-biased funds undergo dual "quantitative + qualitative" screening. On the risk control front, a dual-track mechanism of "risk budgeting + deviation backtracking" is established to strictly manage portfolio volatility.
Wind data shows that as of May 11, 2026, the Fuguo Zhishen Jingxuan 3-Month Holding Period Mixed (FOF) A, managed by Shi Jing, achieved a net value growth rate of 44.75% over the past year, delivering an excess return of 22.35% compared to its performance benchmark.
Overall, the market always progresses amidst volatility. Following new highs, divergence remains the norm, and opportunities belong to those who allocate rationally. While many are纠结 over "whether to chase the highs," seasoned investors have already shifted their focus to "how to allocate." The value of an FOF is to help you adapt to the market, navigate cycles, and maintain composure across different market conditions. The Fuguo Yinghe Youxuan 6-Month Holding Period Mixed FOF (Class A: 027119; Class C: 027120) is currently in a hot issuance period. Investors may consider using this window to establish an allocation choice that balances stability and opportunity, letting professional allocation safeguard the path of long-term investment.
A golden cross signal has formed on the MACD indicator, and these stocks are performing well.
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