市场高位求稳之选 中波“固收+”长城兴怡正在发行中

Core Viewpoint - The "Fixed Income +" funds are gaining traction as a viable asset allocation option amid a rising market and increasing transaction volumes, with Longcheng Fund launching the Changcheng Xingyi Bond Fund to cater to this demand [1][5]. Group 1: Market Trends - The market for "Fixed Income +" funds has seen significant growth, with the total market size increasing from 1.6 trillion yuan in Q4 2024 to 2.5 trillion yuan in Q3 2025, returning to historical peak levels from 2021-2022 [1][5]. - The adaptability of "Fixed Income +" funds is highlighted by their performance, with the secondary bond fund index rising by 5.59% in 2025, outperforming the pure bond fund index which only increased by 0.95% [1][5]. Group 2: Fund Strategy - The Changcheng Xingyi Bond Fund aims to maintain a bond asset allocation of no less than 80%, focusing on high-grade credit bonds rated AA+ and above, while also engaging in flexible trading of medium to long-term interest rate bonds to enhance returns [1][6]. - The fund will allocate 5% to 20% of its assets to equity, convertible bonds, and exchangeable bonds, with a focus on high-quality dividend assets and opportunities in sectors like technology and non-ferrous metals [6]. Group 3: Management Expertise - The fund manager, Wei Jian, has over 17 years of experience in the securities industry and emphasizes a quantitative stock selection strategy to control volatility and seek excess returns [6]. - Longcheng Fund's research-driven approach and strong performance in fixed income categories position it well in the market, with its fixed income funds ranking in the top 20% for returns over the past three and five years [6].