On the morning of December 21, Li Yuanfeng, General Manager of Mingyi Fund, stated at the 2024 Shanghai Stock Exchange · Dahongqiao Financial High-Quality Development Conference and Dahongqiao Bonds Conference that with the continuous decline of the ten-year treasury bond yield, the difficulty of bond investment has increased. In this context, private fund managers need to further enhance their macro timing capabilities and multi-Assets allocation capabilities to create stable returns for investors. He mentioned that first, private funds with medium-sized scales can further gather specific customer needs through product design to benefit investors and provide more distinctive asset management products. Secondly, private fund managers with a certain scale need to increase the deployment and implementation of multi-Assets strategies. Specifically, they can not only focus on equity-bond mixed strategies and Global fixed income asset allocation strategies but also actively utilize Bond Connect, Swap Connect, mutual recognition funds, QDII funds, etc., to participate in the offshore RMB bond market and seek investment opportunities. Finally, in a low-interest-rate market environment, the volatility of symbols may actually increase, so managers should capture opportunities through dynamic adjustments of duration and leverage, thus obtaining excess returns, which means private fund managers need to continuously strengthen their proactive timing capabilities.