Group 1: Investment Strategy Insights - The "Stable 'Fixed Income+' product investment framework and market outlook" was presented by the manager of Ping An Tianrun Bond Fund, emphasizing that in the current complex market environment, such products can provide relatively stable returns through scientific asset allocation and flexible investment strategies [1] - With the economic growth slowing and inflation remaining low, monetary policy is expected to stay accommodative, leading bond market yields to enter the "1% era" [1] - The expected annual return for pure bond products is unlikely to reach 2%, making high-dividend equity assets, such as the CSI 300 dividend yield of 3.45% and the Hang Seng Central Enterprise dividend yield of 7.4%, key focus areas for equity allocation in "Fixed Income+" products [1] Group 2: Market Trends and Opportunities - As the risk-free interest rate declines, the overall cost-performance ratio of equity assets improves, with stable value or growth-oriented quality companies also presenting investment value [2] - Despite a temporary lack of mainline logic in the market, rational expectations allow for the active pursuit of structural opportunities, indicating that the equity market can still provide enhanced return opportunities for investors [2] - The convertible bond market is expected to follow the performance of underlying stocks in the first half of 2025, with small-cap stocks being a core catalyst for convertible bond strength [2]
平安添润债券基金经理曾小丽:高股息类权益资产具备长期配置价值
Quan Jing Wang·2025-06-26 07:14