Debt Based Yields Continue To Rise, The Two Type Of Bond Funds Can Be Nuggets At The End Of The Year.

Despite the impact of the A share market, the overall performance of the bond market in the second half of this year is still bright, and with the bond market going well, the overall yield of bond funds also hit the highest value in four years.

Insiders pointed out that in the context of the central bank's interest rate cut and macroeconomic slowdown, bond funds still have better allocation value at the end of the year.

After the adjustment in mid 6 months, the domestic bond market returned to the business sector in the second half of the year. According to the data center of the business daily, the index of CSI, CSI, CSI, and CSI has risen 5.01%, 4.69%, 4.83% and 18.32% respectively in the second half of the year.

The bond fund made a good return on investment in the second half of the year. According to the business data center, the average return on investment of 766 bond funds since July reached 7.11%. This is also the highest record of the bond fund's overall yield over the same period since 2010. Among them, the enhanced index bond fund has the highest return level, the average yield is as high as 9.03%; the mixed bond class one fund follows closely, the average yield is about 8.63%; the mixed bond type two class fund once again, the average yield is 7.35%, and the average yield of the medium and long term pure debt type gold is 6.86%.

The recent outstanding performance of the bond fund has also enabled most bond fund managers to give positive anticipation to the market prospect at the end of the year.

Tan Fei, an investment adviser of Shenyin and Wanguo, believes that under the background of low economic endogenous motivation and low social financing costs, it is expected that the bond market will continue to maintain a certain boom at the end of the year, which will help bond funds maintain a stable return on investment.

proposal

At the end of the year, two types of bond funds can be nuggets.

On the basis of the expected four quarter bond market will continue to maintain a higher investment expectations, convertible bond funds and credit debt funds are generally regarded as the "Nuggets" point of the year-end bond fund market.

Zhang Yongzhi, the fund manager of "China's steady double profit A", said that the interest rate gap between the fourth quarter capital interest rate and the leveraged operation makes the credit debt have the allocation value, but the credit debt differentiation is becoming more and more obvious. It is necessary to select the industry with high prosperity, cash flow and debt paying ability to invest from bottom to top.

Therefore, there are more urban debt and corporate bonds with controllable credit risk, and a certain percentage of interest rate debt can be allocated to improve the elasticity of the portfolio. A moderately stretched and maintained high leverage credit debt fund is expected to achieve an ideal return on investment in the four quarter.

Ru Ping, the fund manager of "Shun Shun the Great Wall," believes that the absolute yield of credit bonds is generally lower than the historical average. There is little room for further downward downturn. In view of the good supply and demand of credit debt in the fourth quarter, the capital side is neutral and loose, and the risk of leverage is not large. Debt investment is still dominated by credit debt allocation, with the holding interest rate as the investment target, and with the appropriate duration, medium and high grade credit debt investment as the main investment.

Worthy of attention.

The absolute return rate of bonds is still higher than that of other investable varieties, and the choice is wider. There is a rigid allocation requirement for funds such as financial management. From the perspective of providing excess returns, investors should appropriately adjust the allocation ratio of fixed income assets and add convertible bond funds.

current

Although there has been a certain increase, but the difference between the bear and bear is still very large, and the convertible bond premium rate is still in a relatively low position, once the stock is positive.

The subsequent space of its corresponding convertible bonds will not be small. Even if the latter trend is weak, the debt nature of convertible bonds will provide considerable security buffer and controllable risk.

But in the specific operation, we should give priority to those who have many undervalued, growth oriented and subject matter convertible bond funds.