银行长期存款到期？这几只替代基金或可一战！

Core Viewpoint - The article discusses the increasing focus on low-volatility and stable value investments in 2026, particularly in the context of a significant wave of long-term deposits maturing and the prevailing low interest rate environment [1][3][4]. Group 1: Investment Environment - A surge in resident fixed deposits occurred from 2022 to 2023, coinciding with a weakening stock market and declining expectations [3]. - The unprecedented low interest rates faced by maturing funds create a need for reallocation, which is expected to drive demand for various fixed income plus (固收+) products [4][6]. - The investment landscape for fixed income products in 2026 is anticipated to be more challenging than in 2025 due to the current low interest rates and stock market levels around 4000 points [6]. Group 2: Fund Performance - A selection of "fixed income plus" funds was made based on criteria such as positive returns since 2020, fund size over 500 million, and equity exposure below 30% [6]. - The top-performing funds since 2020 include: - 华夏智泰LOF (160323.SZ) with a return of 73.99% and a fund size of 32.59 billion [7]. - 华泰柏瑞新利混合A (001247.OF) with a return of 67.84% [7]. - 招商添利两年债券 (006150.OF) with a maximum drawdown of only 1.09% [36]. - 华夏磐泰LOF has shown a net value growth of 73.9% since 2020, outperforming the沪深300 index by 20 percentage points in 2018 [10][11]. Group 3: Fund Characteristics - 华夏磐泰 LOF has maintained an average equity allocation of 26.7% since 2020, with a significant bond allocation averaging 81.5% over the past 23 quarters [13]. - The fund's defensive strategy focuses on bonds, primarily financial bonds and corporate bonds, while keeping convertible bonds and asset-backed securities at lower levels [15]. - The fund's top equity holdings include industry leaders such as 宁德时代 and 立讯精密, with the largest single stock holding being 工业富联 at only 2.74% of the equity portfolio [19]. Group 4: Other Notable Funds - 安信稳健增值混合A (001316.OF) has achieved a return of 34.2% since 2020, with a maximum drawdown of 7.2% [24]. - 安信新趋势混合A (001710.OF) has a return of 29.1% and a maximum drawdown of only 3.2% [24]. - 招商添利两年债券 has consistently outperformed its benchmark with an annualized return of 6.8% since inception [38].