又火了！200只“固收+”，创新高！

Core Viewpoint - The bond market has experienced significant adjustments this year, while the stock market has seen an increase led by technology stocks, followed by fluctuations due to "reciprocal tariffs" [1] Group 1: Performance of "Fixed Income +" Products - Over 60% of "Fixed Income +" funds have shown positive year-to-date net asset value growth as of April 18 [2][4] - Nearly 200 funds reached new highs in net asset value in April, indicating strong performance in a volatile market [4] Group 2: Future Outlook for "Fixed Income +" Strategies - Fund managers believe that "Fixed Income +" strategies are likely to continue generating returns, with expectations for further product expansion [3][5] - The current capital market activity is driven by various factors, including economic stabilization, technological innovation, and geopolitical resilience, which support the value discovery of domestic assets [5] Group 3: Asset Allocation Insights - The allocation to equity and convertible bond assets has yielded good returns for funds, with some funds reporting over 6% net asset value growth in the first quarter [8] - Convertible bonds are seen as having strong configuration value due to their performance in the current interest rate environment [8][9] Group 4: Management Strategies for "Fixed Income +" Funds - There is a trend of incorporating active equity fund managers into the management of "Fixed Income +" products to leverage their stock-picking abilities [10][11] - The ability to manage across multiple asset classes and maintain a balance between equity and fixed income stability is crucial for success in this space [11] Group 5: Market Conditions and Sector Focus - The A-share market is expected to focus on domestic factors, with a gradual stabilization and subsequent rise anticipated [12] - In terms of sector allocation, there is an emphasis on consumer services and industrial sectors, while maintaining a focus on credit quality and yield in fixed income investments [12]