In 2021, as the style game in the global equity and bond markets intensifies and rotation accelerates, ASIA AURORA INVESTMENT CO., LIMITED strengthens its research and response to market trends and investment risks, and continues to promote refined management of public market investments. It further strengthened the top-down integrated management of public market equity and bond investments and optimized the layout of public market investments. Actively promote the construction of an alternative pool of managers, improve the manager evaluation system and other delegated investment methodologies, and enhance the effectiveness of delegated management. Deepen the research-driven nature of public market proprietary investments, and further enhance proprietary investment capabilities in terms of expanding sources of excess returns, refining portfolio management and enhancing adaptability to different market environments. Strengthen passive investment capabilities in equity indices and gradually develop comprehensive self-management capabilities in sector, regional and customised indices. Improve the supporting mechanisms related to public market equity and debt investments, and carry out systematic planning, scientific layout and integrated management.

In terms of stocks in the public market, in view of the characteristics of the market dominated by macro factors during the year, strengthen the top-down analysis framework, start with investment layout and strategy structure optimization, and actively carry out portfolio adjustments; improve analysis tools, refine Strategy construction, grasp the characteristics of the portfolio, implement unified management of style preferences, and enhance the predictability of returns; deepen investment theme research, grasp the investment direction of future trends; increase investment to explore sustainable investment structures and implementation methods that meet the characteristics of their own institutions .

In terms of bonds and absolute returns, the fixed-income portfolio meets the company's rebalancing and liquidity needs, actively expands financing channels, and provides guarantee for the operation of the company's general portfolio funds; strengthens global macro policy research, and continuously improves entrustment and Global bond investment combined with self-operation; closely monitor the development and changes of the hedge fund industry, actively carry out manager selection and portfolio adjustment; comprehensively sort out the multi-asset risk allocation strategy positioning and portfolio construction, optimize the portfolio based on market cognition, and make steady progress Macro factor proprietary investment.