"Oriental wind brings the spring in full view." The early spring in the southern region. On January 16, the Boshi Fund's first quarter investment strategy meeting for 2025, with the theme "Spring arrives on Earth, new economic situation", was held in Shenzhen. More than 200 institutional clients, including China Merchants Securities and Zhongjin Fortune, as well as over 50 media representatives, totaling approximately 300 people attended the event. Throughout the three forums held during the day, over 30 investment experts from well-known securities firms and Boshi Fund shared profound insights on 2025 macro strategies, asset allocation, and index investments, and discussed market trends and investment opportunities. Since the Central Political Bureau meeting on September 26, 2024, targeted incremental policies have been continuously implemented, boosting confidence in social and economic development, and leading to increased market activity and investor confidence. Huang Jianbin, Chief Asset Allocation Officer of Boshi Fund, stated in his opening speech that China's economic foundation is stable, with multiple advantages, strong resilience, and great potential. With the gradual recovery of corporate profits and market confidence, the overall equity market opportunities outweigh risks. The opportunities in 2025 are likely to focus on stabilizing economic recovery and promoting high-level economic self-reliance. The morning main forum featured presentations from six guest speakers, including economists and analysts from various securities firms, who shared their insights on macroeconomics, A-share market, monetary and fiscal policies, fixed-income market, export opportunities, and health insurance. Looking into the first quarter of 2025, Chen Xianshun, Chief Equity Strategy Analyst at Boshi Fund, provided an outlook on macro strategies and investment opportunities. He highlighted the potential impact of factors such as the US election, economic resilience, and policy changes on global assets, as well as the implications of domestic loose policies on China's asset market. In the afternoon, the discussions continued with a focus on asset allocation and index investments. The topics included strategic insights, trends, and prospects in the field. Various speakers shared their expertise on asset allocation frameworks, opportunities in convertible bond markets, and the main themes in index investments. In the roundtable session, the panel discussed in depth the asset allocation and absolute return for 2025, analyzed the direction and opportunities in asset allocation, risk-return balance, fixed income strategy, and provided recommendations for investors. 2024 witnessed significant growth in index investments in China. In the second forum, speakers discussed their experiences in multiple asset and multiple strategy investments, strategies for enhancing index and active quantitative businesses, and the integration of multi-asset and multi-strategy investments to meet customer needs. The investment director of Boshi Fund's Index and Quantitative Investment Department, Huang Ruiqing, emphasized the importance of risk in asset allocation and timing decisions and the contribution of excess returns to overall profits.Gu Zhnghu, Deputy Director of Investment, focused on the advantages of index enhancement strategies, which combine passive and active (Alpha+Beta) strategies. He stated that in recent years, it has become increasingly difficult to obtain excess returns from active funds. Index enhancement funds, as funds that track specific benchmark indices and utilize active management strategies to achieve excess returns beyond the benchmark index, are gradually showing performance advantages. According to statistics, the majority of equity index enhancement funds have been able to generate positive excess returns over the medium to long term.In addition, Liu Zhao, the Deputy Director of Investment at Bosera Fund Index and Quantitative Investment Department, analyzes the selection logic of large-class funds from different perspectives such as active funds and index funds. Wang Qiong, the Deputy Director of Investment at Bosera Fund Index and Quantitative Investment Department, analyzes the opportunities of Hong Kong and US stocks under index investment from the perspective of overseas asset allocation. Tang Yibing, a fund manager at Bosera Fund Index and Quantitative Investment Department, shares the opportunities and challenges of grasping the investment in science and technology theme index. The theme of the roundtable forum is "How to Use Indexes and ETFs for Asset Allocation". Hong Luping, the Chief Training Officer of Investor Relations Department at Bosera Fund, along with Yan Yajun, Executive Deputy General Manager of Product Planning Department, Yin Hao, Li Chao, and Wang Meng, fund managers of Index and Quantitative Investment Department, engage in in-depth discussions. They analyze how to achieve effective asset allocation through tools such as ETFs and optimize investment decisions using quantitative methods. Bosera Fund Investment Strategy Forum aims to share the macroeconomic context and look ahead to investment opportunities. Bosera Fund will continue to adhere to the original intention of being a "value investment discoverer", play the role of mutual funds as market stabilizers and ballasts, actively guide value investment, share the benefits of long-term growth and compound growth of enterprises, continually improve the holding experience of investors, and promote the formation of a positive cycle of investor profitability, capital market, and high-quality development of the real economy. As of September 30, 2024, Bosera Fund Company manages a total of 380 public funds, with total assets under management exceeding 1.5835 trillion yuan, and cumulative dividends exceeding 204.4 billion yuan, making it one of the leading fund companies in terms of asset management scale in China.