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among them, "challenges and opportunities brought by the downward trend of risk-free interest rates to the asset management industry" has become a hot topic. liao xinchang, deputy general manager of hive fund, believes that the continued impact of the downward trend of risk-free interest rates will bring many challenges to asset management institutions.

investment strategies and challenges

"the impact of the downward trend of risk-free interest rates on the asset management industry" is a complex and important topic. first, the contradiction between investors' requirements for expected returns and the return rates of asset management institutions leads to huge pressure. in the short term, expectations for future returns may not change significantly, which leads to a contradiction between investors' demands and the return rates of asset management institutions.

secondly, the continued impact of the downward trend in risk-free interest rates requires asset management institutions to re-evaluate their investment strategies. on the investment side, if the downward trend in risk-free interest rates becomes increasingly significant, from the perspective of mining returns, fixed-income products may need to extend their duration and may need to allocate more credit bonds, which will inevitably bring about requirements for trading capabilities. as the asset shortage continues, many institutions will explore more credit products, resulting in a compression of credit spreads, which poses a great challenge to credit product pricing and risk management.

diversified investment strategy

from a macro perspective, different asset classes are highly correlated with each other. the combination of bonds, equities, commodities and overseas assets is an important means of reducing risk. liao xinchang believes that in the long run, diversified allocation of assets driven by different macro factors is a relatively cost-effective product.

instrumental products and passive investing

as the market continues to change, new investment strategies are gradually emerging. both tool-based products and passive investment products are attractive options for customers. from the experience of foreign countries, passive investment and tool-based products have a direct relationship with customers, and customers have a high degree of understanding and acceptance.

real economy and financial services

in recent years, the recovery of the real economy has become an important trend, and asset management institutions have begun to pay more attention to the development of the real economy. as the importance of financial services to the real economy continues to increase, the investment trends of asset management institutions will follow the direction of china's economic transformation and development, and risk management will also be adjusted around the design and investment of pension, green and other products.