1. Asset allocation strategy: according to the market situation and the capacity of investable varieties, comprehensively consider the capital trend of the market, the credit qualification of deposit banks, the credit rating of credit bonds, as well as the yield level and liquidity characteristics of all kinds of assets, determine the allocation proportion of all kinds of assets.

2. Leveraged investment strategy: the fund will compare the repurchase rate with the short-term bond yield and deposit interest rate, and on the basis of a comprehensive analysis of the capital side, judge whether there is room for spread arbitrage to determine whether leverage is carried out.

3. Investment strategy of bank deposits and large certificates of deposit: on the basis of inquiry from counterparty banks, the fund selects banks with higher interest rates to invest in deposits, and pays attention to the evaluation and selection of counterparty credit risk in the process of investment.

4. Bond repurchase investment strategy: first of all, based on the judgment of the trend of the capital side, the buyback variety and term are selected. If when the combination carries on the leverage operation, it is judged that the capital side tends to be loose, then the relatively short-term positive repurchase operation will be carried out; otherwise, the relatively long-term positive repurchase operation will be carried out.

5. The investment strategy of interest rate varieties: after determining the average duration of the portfolio, the fund analyzes the term structure of the bonds, selects the appropriate allocation strategy of the term structure, and comprehensively considers the liquidity of the portfolio on the premise of reasonable risk control. determine the type of investment.

6. investment strategy of credit varieties: through the establishment of "internal credit rating system", all credit varieties publicly issued in the market are studied and screened to form an alternative database for credit bond investment. On this basis, combined with the investment and allocation needs of the fund, the appropriate short-term credit varieties are selected for investment through the analysis and comparison of maturity yield, remaining term and liquidity characteristics.