Different risk preferences lead to distinct adjustments in asset allocation by public fund managers.

Recently, many public offering institutions have started a new round of portfolio adjustments for their investment advisory products. Some portfolios choose to increase their positions at low levels, continuously buying into growth sectors such as technology and healthcare; while others opt for a more conservative rebalancing strategy, slightly reducing equity positions and increasing fixed-income assets. Some industry insiders have stated that, on one hand, equity assets still have good value in terms of valuation, risk premium, and new fund issuance indicators; on the other hand, the continuous rollout of policies to expand domestic demand, counteract overwork, positive changes in the funding situation and industry, all bode well for the future performance of A-shares.