波动市场下的“攻守”智慧：博时固收+三季度业绩规模双爆发

Core Viewpoint - The A-share market has seen a strong rise in the technology sector led by AI and self-sufficiency, while the bond market continues to adjust due to multiple factors, prompting investors to shift towards "fixed income +" strategies for risk-return balance [1][2]. Group 1: Market Overview - As of the end of Q3, the total scale of "fixed income +" funds reached 2.44 trillion yuan, an increase of 513.997 billion yuan from the end of Q2, becoming the main growth driver in the public fund market [2]. - The bond market is experiencing adjustments due to the "stock-bond seesaw" effect, the implementation of "anti-involution" policies, and tight liquidity at the end of the quarter [1][2]. Group 2: Company Performance -博时基金's "fixed income +" segment has shown remarkable performance, achieving both scale and performance growth, with its fixed income + funds exceeding 52 billion yuan by the end of Q3 [2][3]. - Several博时基金 products demonstrated strong capital-raising capabilities, with博时恒乐债券 reaching 18.924 billion yuan, a 259% increase from Q2, and博时稳健增利债券 growing from 39.3 million yuan to 1.0575 billion yuan, a staggering increase of 2590.84% [2]. Group 3: Fund Performance -博时基金's fixed income + products have shown strong performance, with six products achieving over 10% returns in the past year [2]. -博时转债增强债券 A achieved a return of 34.25%, significantly outperforming its benchmark return of 2.87%, resulting in an excess return of 31.38% [2]. Group 4: Investment Strategies -博时基金 employs a comprehensive product matrix covering various risk profiles, including aggressive, balanced, and low-volatility strategies, to match different investor risk-return preferences [3]. - The aggressive strategy focuses on high-growth sectors such as technology and defense, while the balanced strategy aims for optimal risk-return through dynamic equity and bond allocation [4][5]. Group 5: Market Outlook - The global economic slowdown and challenges in the Chinese economy, including real estate adjustments and fluctuating consumer confidence, are expected to impact market dynamics [7]. -博时基金 managers anticipate continued market differentiation, with a focus on sectors with reasonable valuations and growth potential in the upcoming quarter [8].