452只产品近6月年化收益率超5%，哪些明年有望延续表现？

Core Viewpoint - The A-share market is experiencing a bullish trend in 2025, with the Shanghai Composite Index surpassing 4000 points, indicating a return of market confidence [1] Group 1: Market Overview - The significant growth in the stock market has increased investor risk appetite, leading to a capital shift from the bond market to the stock market, highlighting the "stock-bond seesaw" effect [1] - The bond market in 2025 is characterized by a fluctuating and differentiated trend, with convertible bonds showing considerable gains and credit bonds and government bonds experiencing moderate increases [1] - As of December 12, 2025, 452 RMB public wealth management products have achieved an annualized yield of over 5% in the past six months, with 366 fixed-income products and 77 mixed products also exceeding this threshold [1] Group 2: Future Outlook - The slow bull market is expected to continue into 2026, driven by the 15th Five-Year Plan emphasizing economic development and technological innovation [1] - The 2026 economic meeting of the Political Bureau stresses the cultivation of new productive forces, with policy support directed towards sectors like semiconductors and artificial intelligence [1] Group 3: Investment Products - The "Hua Xia Wealth Management 'Tian Gong Ri Kai Wealth Management Product No. 5 (AI Computing Power Index)'" has a near six-month annualized yield of 75.98% and focuses on tracking the Hua Xia AI Computing Power Index [3] - The "Minsheng Wealth Management 'Fu Zhu Pure Bond 91-Day Holding Period No. 27 Wealth Management Product A'" is designed to invest primarily in high-grade credit bonds, with a risk level of R2 [4] - The "Ningyin Wealth Management 'Ningxiang Convertible Bond Enhanced Fixed Income Wealth Management No. 2'" has an annualized yield of 5.48% and employs a flexible asset allocation strategy [5] Group 4: Investment Strategy - Investors are advised to focus on equity products in the technology and consumer sectors, while being cautious of potential volatility and avoiding blind chasing of high prices [2] - The bond market is likely to continue experiencing low interest rates and low spreads, with a focus on short-duration high-rated credit bonds to mitigate risks [2] - The "fixed income plus" products that include convertible bonds have successfully hedged against long bond pullbacks while enhancing yields, but investors should be cautious with the "equity portion" of these investments [2] Group 5: Conclusion - The equity market in 2026 is expected to remain technology-driven, while the bond market will continue its fluctuating cycle, suggesting that investors should prioritize stable investments aligned with their risk tolerance [6]