以量化策略加持 最大化收益风险性价比

Core Viewpoint - The "fixed income +" fund market has been experiencing continuous growth since 2025, reaching approximately 1.5 trillion yuan by the end of June, with an increasing number of funds incorporating quantitative strategies [1] Group 1: Fund Performance - The "fixed income +" fund managed by Wu Di, namely Guangfa Xinhao, achieved a one-year return of 8.23% as of July 25, with a maximum drawdown of 1.94%, resulting in a Calmar ratio of 4.28, indicating a favorable risk-return profile [1] - Two other funds managed by Wu Di, Guangfa Hengxiang and Guangfa Jirui, reported net value growth rates of 4.91% and 3.54% respectively over the last six months, significantly outperforming their benchmarks [2] - The maximum drawdown for both Guangfa Hengxiang and Guangfa Jirui was kept under 2%, showcasing excellent risk-return characteristics [2] Group 2: Investment Strategy - The investment strategy for the bond segment involves an active flexible duration approach to enhance win rates in a volatile bond market [3] - For the equity segment, both stocks and convertible bonds are managed using quantitative long strategies, employing data analysis, factor modeling, and deep learning to cover various market themes comprehensively [3] Group 3: Asset Allocation - Guangfa Hengxiang limits its equity investments to no more than 20% of its total assets, with a maximum of 50% of that in Hong Kong stock connect stocks, while Guangfa Jirui also maintains a similar cap on equity investments [2] - As of the latest disclosures, Guangfa Hengxiang's equity investments accounted for nearly 18% of its assets, with stock investments at approximately 9.41% and convertible bonds at 8.07% [2] - Guangfa Jirui's equity investments totaled around 10%, with stock investments at about 5.24% and convertible bonds at 4.64% [2]