揭秘「固收+」的策略优势：股债配置+再平衡是关键

Group 1 - The core advantage of "Fixed Income +" products lies in the strategy of equity and bond allocation combined with rebalancing [1][2] - "Fixed Income +" consists of two parts: a defensive portion primarily made up of low-risk bond assets and an offensive portion that includes stocks and convertible bonds to enhance returns [2][4] - The long-term returns of stocks are higher than those of bonds, which significantly improves the overall returns of "Fixed Income +" products compared to pure bond products [4][5][9] Group 2 - The negative correlation between stocks and bonds reduces overall volatility risk, as when stocks rise significantly, bonds tend to perform poorly, and vice versa [15][16] - Historical data shows that during periods of stock market downturns, bond funds often experience rapid increases, demonstrating this negative correlation [20][24] - "Fixed Income +" products can provide a more stable investment option for those who cannot bear high volatility risks associated with pure equity funds [25] Group 3 - Rebalancing is essential as the initial allocation of stocks and bonds can shift due to market fluctuations, necessitating adjustments to maintain the desired ratio [26][27] - A common rebalancing strategy involves selling stocks when their proportion increases and buying bonds, and vice versa when stocks decline, effectively implementing a "buy low, sell high" approach [33][35] - Examples of successful rebalancing strategies, such as those executed by the "Monthly Salary Treasure" investment portfolio, have contributed to notable returns [36][42]