A：In an era of low interest rates, the importance of diversified asset allocation is particularly prominent, as the bond market comes out of the mini-bull market as funding is looser than expected. In the face of increased market volatility and continued low interest rates, ordinary investors are increasingly demanding asset allocation and timing of entry and take-profit. In order to pursue higher return goals, investors should not limit themselves to bank deposits or low-risk investments, but need to consider diversified asset allocation strategies.

A：There are two reasons why it is currently regarded as an era of low interest rates: first, policy interest rates continue to fall, such as the one-year fixed deposit rate of large state-owned banks falling below 1%, and the interest rate of large certificates of deposit has dropped significantly; second, there is an "asset shortage" in the market. Bank deposit rates and bond yields such as treasury bonds and interbank certificates of deposit have declined.

A：The average investor is not advised to do this directly, as the risk and volatility gap between the stock market and bank deposits or pure debt management is huge. While the stock market is in full swing, direct investment can be too risky. Therefore, a diversified asset allocation approach is recommended to generate returns in a bull market in the stock market while also balancing risk and volatility through other asset classes.

A：Consider investing in fixed income plus products, which combine pure debt and equity assets (e. g., equities, convertible bonds, commodities such as gold and silver, real estate, etc.) designed to provide relatively stable returns while reducing volatility and losses in the event of a sharp stock market decline. For example, the Southern All Weather Strategy Hybrid FOF Fund, which uses a diversified asset allocation strategy and has achieved a gain of more than 12% in the past year, can be used as a balance between risk and return, although this requires higher risk tolerance and greater volatility.

A：The main reason is that the fund adopts an all-weather strategy and insists on diversified asset allocation to enhance returns and diversify risk. Appropriate attacks on the equity asset side for higher yield margins and defensive strategies on fixed assets (bonds). In addition, fund managers are bullish on technology growth, semiconductors, electronics, cyclical industries (non-ferrous and chemicals, etc.) and pro-cyclical sectors that benefit from anti-roll, and take a low allocation to consumption. Since its inception as of the first quarter of 2026, the Southern All-Weather Fund has risen more than 56 per cent, outperforming the performance benchmark by about 39 per cent and outperforming the CSI 300 index by 13 per cent. In the long run, its performance is more stable and can rise and fall, is a good choice for long-term allocation.

A：Southern Haoxiang Fund is positioned as a very low-wave fixed income plus fund with less volatility and is suitable for investors with lower risk tolerance. Although it is also a diversified asset allocation, its bond ratio is higher than that of the Southern All Weather Fund, and its equity portion has a smaller asset position, thus effectively controlling volatility and pullbacks. In contrast, the Southern All Weather Fund is suitable for investors who have some fixed income plus investment experience or pure equity fund investment experience and want to reduce portfolio volatility.

A：All weather fund is suitable for long-term holding. From the perspective of short-term and long-term performance, it shows good return ability and stable holding experience. It has excess returns relative to CSI 300 or performance benchmark, so it is suitable for long-term investment strategy.

A：The All Weather Fund, as a high-wave fixed income plus fund, is more volatile than pure bond funds, but less volatile than pure equity funds. Fixed investment, whether for all-weather funds or other products, can smooth costs and fluctuations, more suitable for long-term investment goals, long-term free money investors.

A：All-weather FOF is more suitable for volatile markets, because it adopts a multi-asset allocation strategy, through the allocation of stocks and bonds and other types of assets, in different market environments can obtain relatively small volatility and a more stable holding experience, the use of low correlation between assets to achieve the purpose of risk diversification.

A：Southern all-weather strategy can be used as a long-term pressure stone fund. In the current market environment, adopting a diversified asset allocation and choosing a high-volatility fixed income plus fund such as Southern All-Weather can help investors better seize income opportunities and gain a better holding experience in the long-term investment process.

A：For investors who have previously invested in more debt bases, the Southern All-Weather Fund is more suitable as an offensive investment allocation to obtain higher returns. For investors whose most funds are concentrated in equity funds, Southern All Weather can be used as a bottom fund in their portfolio. Investors in the south all-weather or other funds as the bottom position allocation, must have sufficient psychological preparation to deal with the short-term fluctuations in the market, because the profit and loss of the same source, only good psychological preparation can have the confidence to hold until the market back up, to obtain income.

A：Southern Haoxiang is suitable for stable investor allocation, its positioning is low-wave fixed income plus, mainly bond investment, supplemented by a small number of convertible bonds and commodity equity assets, its trend is relatively stable, especially in the bond market performance is better when there is a commendable performance. Southern Haoxiang is a three-month holding period of very low volatility fixed income plus products, investors need to hold at least three months after purchase, after which they can sell or continue to hold at any time.

A：Yes, the Southern All Weather Fund belongs to the high wave fixed income plus range, its volatility compared to pure debt funds such as the Southern Steady Profit and the low wave fixed income plus fund Southern Haoxiang is larger, so before investing to test their risk tolerance.

A：For small white investors who are accustomed to buying debt funds, choosing Southern All-Weather Fund may need to control a certain position, because its volatility is larger than that of pure debt funds; and for small white investors who originally aimed to directly enter the stock market, Southern All-Weather is less volatile than pure equity funds, which is more suitable as a transitional option.

A：First of all, you need to do your own risk tolerance test. Steady players are suitable for choosing fixed-income plus products such as Southern Haoxiang; investors with higher risk tolerance can consider Southern All-Weather Fund if they pursue higher returns after completing the test questions. When buying funds, pay attention to the timing. It is not recommended to buy when the market is overheated and sentiment is high. You should try to lay out at a low level (layout on the left).

A：Southern Heshun and Southern All-Weather are multi-asset allocation FOF funds, Southern Heshun positions more diversified, in addition to A- shares, Hong Kong stocks and U.S. stocks and U.S. bonds, while Southern All-Weather mainly focuses on A- shares and the Chinese bond market. Southern Heshun's historical performance volatility is relatively low, which is more suitable for global multi-asset allocation.

A：Southern Ningyue is a balanced and stable high wave fixed income plus fund with a more stable and balanced style than Southern All-Weather. Its fund managers have a flexible investment strategy, not only focusing on the stock sector, but also allocating broad asset classes to achieve a balanced effect. Therefore, Southern Ningyue is more suitable as a bottom position configuration, especially considering the experience and style characteristics of its management team.

A：If you are optimistic about convertible bonds, especially high-growth varieties of investment, you can choose Nanfang Changyuan; if you want to diversify investment risk, while optimistic about Chinese bonds and technology stocks, you can choose Nanfang Guangli, because in addition to convertible bond positions, it also allocates bonds and high-growth technology stocks.

A：Southern co-deposit is positioned as a pure bond short bond fund, which is suitable for long-term holding as a bottom position due to its low volatility. However, as the policy rate falls and the co-deposit coupon rate falls, investors should manage their expectations and adjust their yield targets to suit their characteristics as a bottom position.

A：Southern Baofeng is a fixed-income plus product, in addition to investing in A- shares but also in Hong Kong stocks, suitable for stable investors as an indirect investment channel, compared to pure bond funds, it is a smooth transition to the stock market investment of a fixed-income plus product choice.