低波求稳还是中高波博收益？“固收+”基金该怎么选

Core Viewpoint - In a volatile stock market and low-interest-rate bond market, "fixed income +" funds have become a preferred tool for investors to navigate complex market conditions, with different risk profiles corresponding to varying return ranges [1][2]. Group 1: Investment Strategy and Product Offering - Bosera Fund has developed a comprehensive "fixed income +" product matrix that includes high, medium, and low volatility characteristics to cater to different risk preferences of investors [1][2]. - The "fixed income +" strategy combines bonds as a base asset while incorporating stocks and convertible bonds to enhance returns, aiming to provide better returns compared to traditional bond funds [1][2]. - The firm employs a robust platform-based research and investment structure, with a multi-layered assessment mechanism for dynamic asset allocation and regular performance reviews [2][3]. Group 2: Performance and Market Position - As of the end of Q3 2025, Bosera Fund manages nearly 400 funds with an asset management scale of 1.7 trillion yuan, having distributed over 220 billion yuan in dividends to investors [2]. - The performance of Bosera's "fixed income +" products has been strong, with several products ranking in the top 10% and 25% of their categories according to data from Galaxy Securities [5][8]. - Specific products like Bosera Stable Return Bond and Bosera Hengtai Bond have shown significant net value growth rates, outperforming their respective benchmarks by substantial margins [5][8]. Group 3: Future Outlook - The future performance of the bond market will depend on fundamental economic conditions and monetary policy, with expectations that bond yields will not have a sustained upward trend unless significant changes occur [6][7]. - The investment team suggests that while short-term fluctuations may affect bond pricing, long-term value will ultimately align with fundamental economic indicators, indicating a limited adjustment space for long-term bond yields [6][7].