Focusing on balance, Furong Research’s selected hybrid funds are ready for development
On August 28, Furong Fund will launch a new equity product - Furong Research Selected Hybrid Securities Investment Fund. Relying on Furong Fund's professional investment research capabilities, the fund plans to adopt a dynamic equilibrium strategy to conduct in-depth research on technology, cycles, consumption, high-end manufacturing and other major sectors, and dig deep into industry advantageous stocks, striving to obtain excess returns.
According to the relevant person in charge of Furong Fund, Furong Research Selected Hybrid Fund is positioned as a stock-biased hybrid fund for stock selection in the entire market. Based on industry characteristics and drawing on the relatively mature industry classification methods in the market, the fund plans to divide Shenwan’s 31 first-level industries into four categories: technological innovation, large cycles, large consumption and high-end manufacturing. Different industries represent or reflect different parts of our economy, some reflect exports, some reflect investment, and some reflect consumption. The fund will select advantageous stocks on a balanced basis through in-depth excavation and research of these four major sectors, and strive to construct an investment portfolio that can have a relatively stable performance under different market environments and market styles.
Furong Research Selected Hybrid Fund will look for advantageous companies through a combination of "top-down" and "bottom-up" methods. At the industry level, conduct top-down comparative research such as building an industry research framework, tracking industry prosperity, grasping industry competition patterns, and global market analysis; at the individual stock level, use bottom-up observations such as qualitative analysis, quantitative analysis, comparative analysis, survey tracking, and comprehensive verification to discover changes. Finally, from the investment perspective, we comprehensively consider industry valuation points, cycle points, etc., select advantageous companies that benefit from economic transformation and development in the medium and long term, have clear development strategies, have comparative advantages, have good governance structures, and can continue to create value in the long term, build an investment portfolio, and continuously optimize it.
As China’s economy transitions to high-quality development, every major industry category may contain investment opportunities. Therefore, the fund currently plans to adopt a dynamic balanced allocation strategy. This strategy includes two aspects: balanced allocation strategy and dynamic trend strategy.
The so-called balance does not mean average or equal weight, but divides the entire market into four major sectors: consumption, high-end manufacturing, technological innovation and cycle. The allocation of each sector strives to be balanced and not to have too much exposure in a single sector. The so-called dynamic means that fund managers select advantageous sectors and advantageous companies with long-term α for key allocation based on three aspects: "in line with industrial structure trends", "relatively reasonable valuation levels" and "possessing core competitive advantages".
The fund is planned to be managed by Lang Chengcheng, general manager of Furong Fund Research Department. From the perspective of Lang Chengcheng's management, the fund manager's responsibilities are mainly reflected in three aspects: first, based on the advantages of his own industry research, through industry comparison and macro analysis, determine the proportion of the investment portfolio; second, fight a "cooperation battle" with the team's researchers and make investment decisions based on the team's research results; third, based on the three aspects of "in line with industrial structure trends", "possessing core competitive advantages" and "market valuation level", select advantageous sectors and advantageous companies with long-term α for key allocation.
At the same time, the management of the fund also integrates the support of the research team. Up to now, the research scope of the Furong Fund research team has basically covered 31 first-level industries of Shenwan. The researchers are divided into four groups: technological innovation, high-end manufacturing, large consumption, and large cycles. They conduct research and follow up on different directions, and then form various levels of stock pools and preliminary industry allocation suggestions through efficient and extensive discussions within the team.
Note: ① Furong Research’s preferred hybrid securities investment fund, R3 medium risk level, planned offering period: August 28, 2023 - September 15, 2023. ②The fund manager will flexibly adjust specific investment strategies based on changes in securities market conditions and in accordance with the provisions of the fund contract.
Risk warning: my country’s funds have a short operation time and cannot reflect all stages of the development of the securities market. The past performance of the fund does not indicate its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the performance of this fund. The fund manager promises to manage and use the fund assets in accordance with the principles of good faith, diligence and responsibility, but the fund manager does not guarantee that the fund will be profitable, nor does it guarantee a minimum return. Investors should carefully read fund legal documents such as the "Fund Contract", "Fund Prospectus" and "Fund Product Information Summary" to understand the risk and return characteristics of the fund, and judge whether the fund is suitable for the investor's risk tolerance based on their own investment purpose, investment period, investment experience, asset status, etc. The fund manager reminds investors of the "caveat emptor" principle. After making an investment decision, the investment risks caused by changes in the operating status of the fund and the net value of the fund shall be borne by the investor. The market is risky and investment needs to be cautious.
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