既怕错过又怕买错 提升权益投资或可从“固收+”开始

Core Viewpoint - The Shanghai Composite Index has surpassed the key level of 3600 points for the first time this year, indicating a rise in equity asset investment enthusiasm, but the continuous increase raises concerns about potential overvaluation [1] Group 1: "Fixed Income +" Strategy - "Fixed Income +" consists of two parts: a solid foundation of fixed income assets and an additional allocation to equities and convertible bonds to seek higher returns [3] - The strategy can be categorized into three types based on equity allocation: - Low-volatility "Fixed Income +": Equity allocation under 10%, focusing on controlling drawdowns and volatility [4] - Medium-volatility "Fixed Income +": Equity allocation between 5%-20%, balancing risk and return [5] - High-volatility "Fixed Income +": Equity allocation between 20%-30%, aiming for higher returns with increased volatility [5] - For low-risk investors or those inexperienced in equity investments, starting with "Fixed Income +" may align better with their risk tolerance, offering a stable return from fixed income and potential upside from equity exposure [5] Group 2: Selection of "Fixed Income +" Products - Investors should consider their risk preferences alongside the product positioning, historical performance, investment strategies, and volatility characteristics when selecting "Fixed Income +" products [7] - Example: Yinhua Fund has established a series of "Fixed Income +" products with varying strategies to meet diverse investor needs, such as: - Yinhua Enhanced Income Bond: - Equity allocation: 17.09% in stocks and 23.33% in convertible bonds - Performance: 9.46% growth over the past year, with a cumulative return of 131.64% since inception, ranking in the top 12% of its category [7] - Yinhua Vision Bond: - Equity allocation: 15.28% in stocks and 11.70% in convertible bonds - Performance: 7.50% growth over the past year, ranking in the top quarter of its category [7] Group 3: Investment Focus and Strategies - The investment strategy emphasizes a scientific multi-strategy management framework to achieve a favorable risk-return ratio, focusing on growth-oriented stocks and balanced convertible bonds [10] - The fund manager indicates a positive outlook for equity assets in the third quarter, focusing on sectors with improving fundamentals, stable dividend expectations, and industries with potential future profitability trends [11][12]