“固收+”基金表现亮眼，今年回报最高达45%，业内：明年“固收+”预期回报2%-5.5%

Core Insights - The "fixed income +" funds have performed exceptionally well this year, with top products achieving returns of up to 45%, significantly outperforming pure bond funds and closely matching stock funds [1][2] - The industry remains optimistic about the development of "fixed income +" products next year, although return expectations are being adjusted to a range of 2%-5.5% [1][8] Performance Overview - Among approximately 3,700 "fixed income +" funds, over 3,500 have reported positive returns this year, with a median return of 3.56% as of November 20 [2] - The top 10% of "fixed income +" products have achieved returns exceeding 10%, with notable performers including Huaan Zhilian A/C and Huashang Shuangyi A/C, both exceeding 40% returns [2][3] Contribution Analysis - The contribution to the performance of typical "fixed income +" products shows that pure bonds contributed just over 1%, while equity contributions were around 3%, and convertible bonds contributed about 1% [4] - Some funds have successfully leveraged high stock and convertible bond ratios, while others have struggled, resulting in negative returns for certain products [5] Future Outlook - The "fixed income +" market is expected to continue growing, driven by a shift in investor preference towards stable assets with controlled risks amid declining deposit rates [8][9] - The anticipated contribution from pure bonds is expected to remain between 1-1.5%, while equity contributions are projected to be between 1-3% [9]