Research On Asset Allocation Strategy Of Domestic Public Funds Of Funds

Along with the volatility of financial markets,various problems have arisen in the stock market,bond market,commodity market,P2P market and real estate market.After the wild growth and collapse of China's stock market in 2015,investors increasingly prefer to invest in more stable fund products that can better control risks.This also promoted the arrival of the era of asset management,asset diversification in the market more and more active,FOF funds also developed.Asset allocation is the core of FOF fund.In addition to giving investors access to the additional returns of fund products,it can also control the downside risk in different markets,thus guaranteeing the stable increase of investors' funds.At present,FOF fund is already an important part of the American fund market.Although the development in China is just starting,the future development space is very broad.Firstly,this paper expounds the related concepts of public offering FOF and its development status at home and abroad,and compares and analyses the differences between China and the United States based on the current situation,at the same time,it analyses the advantages and disadvantages of public offering FOF,and makes use of various mathematical statistical models,such as minimum variance model and equal weight model,to analyze and compare them.The allocation and income of various asset investments are given,and corresponding theoretical thoughts and operational evaluations are given.Among them,the risk parity model is innovatively improved and explained.Because the traditional risk parity model does not differentiate the assets in the portfolio,the default is that the same kind of assets have the same impact value on the risk,which makes the potential risk of assets difficult to detect.The improved risk parity model can effectively assess the contribution value of various risks,thus reducing the possibility of hidden risks.Through empirical research,this paper consults and compares the annual returns of assets such as bond investment and the historical data of risk parity portfolio,including minimum variance portfolio and equal weight portfolio,and draws the following conclusions:risk parity model can obtain stable returns with lower risk.Because of its higher SHARP ratio compared with other combinatorial models,it is more stable and secure.In addition,compared with the traditional risk parity model,it considers different types of risk factors more thoroughly.Innovation point of this article is for the asset in the portfolio risk parity model type and quantity of sensitive problem,introduces the improved parity model based on the risk factors of risk,and combining with China's macro risk factor has carried on the empirical research,to build a kind of to have less exposure to inflation and growth portfolios,to help investors to control risk,obtain stable and lasting benefits,promote the public offering 'made better and faster development in our country.