In the era of "asset shortage" where the low interest rate environment continues to deepen and the differentiation of various asset returns intensifies, investors are facing unprecedented allocation difficulties: large denomination certificates of deposit are difficult to obtain, bond yields continue to decline, stock market volatility intensifies, and structural opportunities are difficult to grasp.

In this context, Xingzheng Global Fund, with years of experience in diversified asset allocation, has launched a new masterpiece - Xingquan Yingxi Diversified Allocation Three Month Holding Hybrid Fund (FOF), which will be officially launched from March 25 to April 30, 2026, providing a one-stop and professional asset allocation solution for investors pursuing diversified returns.

Diversified allocation breaks through the situation of 'asset shortage'

In the current market environment, it is difficult to balance returns and risks with a single asset allocation. From the perspective of the fixed income market, starting from December 2025, the six major state-owned banks and multiple joint-stock banks will cease selling five-year large denomination certificates of deposit, and three-year products will frequently experience situations of "sold out" or "tight quota", leading to a continuous narrowing of traditional wealth management channels. At the same time, the performance of bond fund returns fell short of expectations, with the medium and long-term pure bond index only increasing by 0.83% in 2025, a significant decline from 4.59% in 2024, and the attractiveness of fixed income assets continues to weaken.

The equity market is also facing challenges. After the upward trend since "924" in 2024, A-shares in 2026 will face both volatility and structural opportunities due to the complex external environment, making it difficult for ordinary investors to grasp. Since the end of 2025, the stock prices of dividend assets have shown a trend of differentiation, with the dividend yield of the CSI Dividend Index dropping to 4.73%, which also faces the problem of increased investment difficulty.

In the face of market difficulties, Xingquan Yingxi FOF broke through with a diversified allocation strategy and adhered to the idea of "fixed income as the basis and diversified enhancement" in product design. Its performance comparison benchmark scientifically covers four major asset categories: 70% of the China Bond Composite (full price) Index as the fixed income bottom position, laying a solid foundation for the portfolio; 15% of the CSI equity oriented fund index captures growth opportunities in the A-share market; 12% of MSCI World Index (after exchange rate conversion) is allocated to high-quality equity assets worldwide; The 3% Shanghai Gold Exchange Au99.99 spot contract yield is used to hedge market volatility risk.

From the perspective of asset correlation data, the correlation coefficients between MSCI World Index, equity funds, medium - and long-term pure bond funds, and gold assets are generally below 0.3, with the correlation coefficient between medium - and long-term pure bond funds and gold being only 0.03. This low correlation feature causes various assets to exhibit a trend of "ups and downs" in the market cycle, effectively reducing the impact of single asset or single market fluctuations on the portfolio.

Compared to the traditional "fixed income+" model that only focuses on domestic stocks and bonds, Xingquan Yingxi FOF can allocate overseas fixed income assets to capture interest margin returns on the fixed income side, and expand to overseas equity, gold and other categories on the risk asset side. The portfolio is less affected by single market fluctuations and has a more prominent feature of both offense and defense.

FOF giants safeguard long-term profits

In the era of "Wanji", the professional requirements for fund selection and asset allocation have become increasingly prominent. As of the end of 2025, the total number of domestic public funds has exceeded 13000, doubling from 6544 at the end of 2019. Ordinary investors are facing serious difficulties in selecting funds. However, global diversified asset allocation involves multiple repetitive and complex factors such as time difference, exchange rate, and exchange limit. Overseas asset related ETFs often experience discount premium phenomena, further increasing investment difficulty.

Xingquan Yingxi FOF leverages the natural advantages of FOF products and the comprehensive investment research system of Xingzheng Global Fund to achieve specialized division of labor in the fields of active equity, passive equity, fixed income, alternative assets, overseas assets, etc. By closely tracking and researching fund targets, it organically combines diversified asset allocation with optimal fund selection, effectively solving the dual pain points of "difficult fund selection" and "difficult fund allocation".

The fund is jointly managed by two strong fund managers, forming a complementary investment and research force. Liu Xiao, the proposed fund manager, is an industry expert with 13 years of experience in FOF investment research. He has 4 years of experience in fund research and 9 years of experience in FOF investment. He is skilled in proactive fund investment research and strives to create better cost-effectiveness and stronger sense of gain for the portfolio. The stable elderly care target of Xingquan Antai under its management is to hold FOF for one year. Since its management on August 29, 2022, the return on A-shares has reached 16.53%, exceeding the benchmark by 8.91 percentage points; In the past 3 years, the return rate has been 16.10%, ranking in the top 1/4 of the same category (8/64), with a maximum drawdown of only -5.29%, significantly better than the average of -7.59% in the same category.

Another proposed fund manager, Zhang Jimin, has 11 years of experience both domestically and internationally, with over 7 years of asset research and 4 years of investment experience. He is skilled in investing in equity and index assets both domestically and internationally, with a deep focus on asset allocation and quantitative investment. He has managed two investment advisory portfolios with over 100000 followers and has extensive practical experience in diversified asset allocation.

As a three-month holding period product, Xingquan Yingxi FOF not only guides investors to invest rationally and avoid the loss of returns caused by frequent trading through holding period design, but also maintains relatively flexible liquidity, balancing long-term returns and fund utilization efficiency. In the current complex market environment, this fund is expected to become a high-quality choice for investors to navigate through market cycles, thanks to its diversified allocation strategy, professional team's investment research support, and the backing of the fund company's strength.

Risk Warning: There is no subscription fee charged for subscribing to Class A fund shares of this fund through direct sales institutions. Subscription fees will be charged for subscribing to Class A shares through other sales institutions, specifically (amount M, including subscription fees): M<5 million, 0.50%; M ? 5 million, 1000 yuan per transaction. Class C does not charge subscription fees. There is no subscription fee charged for purchasing Class A fund shares of this fund through direct sales agencies. Collecting subscription fees for A-class shares through other sales institutions, specifically (amount M, including subscription fees): M<5 million, 0.50%; M ? 5 million, 1000 yuan per transaction. Class C does not charge subscription fees. The Class A and Class C of this fund charge redemption fees, specifically (N is the holding time of the applied shares): N<7 days, 1.5%; 7 days ? N ? 30 days, 1.0%; 30 days ? N ? 180 days, 0.5%; N ? 180 days, 0. Class A does not charge sales service fees. Class C charges a sales service fee of 0.30% per year. The annual management fee rate for this fund is 0.6%, and the annual custody fee rate is 0.15%. The portion of this fund invested in the funds managed by the fund manager is not subject to management fees; The portion of this fund invested in funds under the custody of this fund custodian is not subject to custody fees. This material was produced in March 2026, and the aforementioned rates may change. Please refer to the fund's legal documents and the latest relevant announcements for accuracy.

The minimum holding period for each fund share in this fund is 3 months. For fund shareholders, there is a risk of not being able to redeem within 3 months after investing in this fund. This fund is a hybrid fund, with expected returns and expected risk levels higher than bond funds, bond funds, money market funds, and money market funds, but lower than equity funds and equity funds. The fund manager has rated it as R3. Xingzheng Global Fund promises to manage and utilize fund assets in accordance with the principles of honesty, trustworthiness, diligence, and responsibility. However, it does not guarantee that the fund will always be profitable, nor does it guarantee a minimum return. Investors should carefully read the fund's legal documents such as the fund contract and prospectus, understand the risk return characteristics of the fund, and judge whether the fund is suitable for investors' risk tolerance based on their own investment purposes, investment period, investment experience, asset status, etc. They should independently judge the investment value of the fund, make investment decisions independently, and bear investment risks on their own. The operation time of funds in our country is relatively short and cannot reflect all stages of stock market development. The performance of other funds managed by the fund manager or the performance of other portfolios previously managed by the fund manager does not constitute a guarantee of fund performance.Funds carry risks and investments must be made with caution.

Liu Xiao's investment research experience: From July 2012 to November 2020, he served as the Director of Fund Investment in the Investment Department of Taikang Asset Management Fund; From November 2020 to February 2021, served as the Deputy Director of the Investment Research Center of Tencent's Asset Management Department; From July 2021 to June 2022, served as an investment manager for Xingzheng Global Fund; Appointed as a fund manager from June 16, 2022. Zhang Jimin's research experience: From February 2015 to October 2016, he served as a research manager at EMA Asset Management Company in the United States; Joined Xingzheng Global Fund in June 2017 and served as a researcher in the Multi Asset Allocation Department; From April 2022, appointed as the head of the investment advisory portfolio; From May/30, 2025, appointed as a fund manager.

Liu Xiao's product performance under management has been reviewed by the custodian bank. During the period of stable FOF management, Liu Xiao's return/benchmark return: Xingquan Optimal Stable FOF 2024/5/16-2026/2/27:8.23%/7.48% (jointly managed); Xingquan Antai Stable Elderly Care FOF 2022/8/29-2026/2/27:16.53%/7.62%.

Xingquan Antai Stable Elderly Care holds FOFA for one year. As of December 31, 2025, the return since its establishment is 19.84%, and the benchmark return for the same period is 9.50%. Its performance and comparison benchmarks for each year since its establishment are: 2021 (4.95%/2.80%), 2022 (-2.09%/-4.10%), 2023 (0.66%/-1.39%), 2024 (5.85%/5.20%), 2025 (8.25%/4.40%); This fund announced the addition of Class Y shares on November 17, 2022, and began processing subscription and related business on November 23, 2022. As of December 31, 2025, the return since its establishment was 16.62%, and the benchmark return for the same period was 8.31%. Its annual performance and comparative benchmarks since its establishment are: 2022/11/23-2022/12/31 (0.30%/0.01%), 2023 (0.97%/-1.39%), 2024 (6.12%/5.20%), 2025 (8.51%/4.40%). Previous fund managers: Lin Guohuai (2020.11.26-2023.01.04), Liu Xiao (2022-11-17 present).The minimum holding period for each FOF fund share held by Xingquan Antai Stable Pension for one year is one year. Therefore, for fund shareholders, there is a risk of not being able to redeem within one year after investing in this fund. This fund is a hybrid fund, with expected returns and expected risk levels higher than bond funds and money market funds, and lower than equity funds. The fund manager has a risk rating of R3 for this fund.

Xingquan Optimal has held FOFA steadily for six months, with a return of 13.86% since its establishment as of December 31, 2025, and a benchmark return of 10.67% for the same period. Its annual performance and comparison benchmarks since its establishment are: 2022/4/22-2022/12/31 (1.49%/1.17%), 2023 (2.62%/1.35%), 2024 (4.86%/4.14%), 2025 (4.26%/3.64%); Xingquan Optimal has held FOFC steadily for six months, with a return of 12.82% since its establishment and a benchmark return of 10.67% during the same period. Its annual performance and comparative benchmarks since its establishment are: 2022/4/22-2022/12/31 (1.31%/1.17%), 2023 (2.37%/1.35%), 2024 (4.60%/4.14%), 2025 (4.00%/3.64%). Previous fund managers: Liu Xiao (from June 16, 2022 to December 27, 2023), Lin Guohuai (from April 22, 2022 to December 27, 2023), Ding Kailin (since January 4, 2023). The minimum holding period for each FOF fund share held by Xingquan Optimal Selection is six months. Therefore, for fund shareholders, there is a risk of not being able to redeem within six months after investing in this fund. This fund is a bond fund with expected returns and expected risk levels higher than money market funds and lower than hybrid and equity funds. The fund manager has a risk rating of R2 for this fund.

Zhang Jimin's research experience: From February 2015 to October 2016, he served as a research manager at EMA Asset Management Company in the United States; Joined Xingzheng Global Fund in June 2017 and served as a researcher in the Multi Asset Allocation Department; From April 2022, appointed as the head of the investment advisory portfolio; From May/30, 2025, appointed as a fund manager.

Zhang Jimin's managed product performance has been reviewed by the custodian bank. As of December 31, 2025, Xingquan actively allocated FOF-LOF with a return of 6.04% since its establishment, and the benchmark return for the same period was -5.21%. Its annual performance and comparative benchmarks since its establishment are: 2022 (-13.63%/-18.58%), 2023 (-7.92%/-12.21%), 2024 (6.67%/5.07%), 2025 (23.33%/26.49%); Xingquan actively allocates FOF-LOF C, with a return of 4.73% since its establishment as of December 31, 2025, and a benchmark return of -5.21% during the same period. Its performance and comparison benchmarks for each year since its establishment are 2022 (-13.88%/-18.58%), 2023 (-8.21%/-12.21%), 2024 (6.37%/5.07%), and 2025 (22.95%/26.49%). The benchmark for the performance of this fund is the return of the CSI equity oriented fund index multiplied by 70%+the return of the MSCI World Index (converted using valuation exchange rates) multiplied by 15%+the closing price return of the Au99.99 spot contract on the Shanghai Gold Exchange multiplied by 5%+the China Bond Composite (full). Price index yield multiplied by 10%. Fund Manager Change: Lin Guohuai has been in charge since November 12, 2021; Ding Kailin was previously in charge from November 12, 2021 to January 4, 2023; Liu Shuiqing has been under management since February 13, 2025; Zhang Jimin has been in charge since June 30, 2025.