长周期考核下的“固收+”坚守：中邮基金的“长期主义”

Core Viewpoint - The article discusses the launch of a series of activities aimed at promoting the high-quality development of public funds in Beijing, emphasizing long-term value creation and investor education [1][5]. Group 1: Assessment Reform - The focus has shifted from short-term performance rankings to long-term assessments, with an emphasis on creating sustainable value for investors [1][2]. - The new evaluation framework includes metrics such as "3-5 year performance stability," "long-term investor retention rate," and "risk control compliance rate," prioritizing these over short-term results [2][3]. - The transformation aims to eliminate the anxiety associated with short-term rankings, allowing fund managers to concentrate on long-term investment strategies [2][4]. Group 2: "Fixed Income Plus" Strategy - The "Fixed Income Plus" strategy is defined as a combination of stable returns and enhanced flexibility, focusing on capital preservation and predictable income [3][5]. - The approach emphasizes avoiding credit risks and conducting thorough credit research on bond issuers to protect investor interests [3][4]. - The strategy also involves investing in sectors with stable returns, such as consumer staples and public utilities, which are less volatile and suitable for a broad range of investors [3][5]. Group 3: Long-term Value Creation - The performance of "Fixed Income Plus" products has been stable during market fluctuations from 2022 to 2024, attributed to the new assessment mechanisms and investment logic [3][5]. - The company aims to shift the market focus from scale competition to value competition, emphasizing the importance of sustainable returns over short-term gains [5][6]. - Future initiatives include enhancing research assessments by incorporating "investor satisfaction" and developing differentiated products tailored to specific investor needs, such as retirement and education [5][6].