Core Viewpoint - The primary goal is to achieve "sustained positive returns" amidst increasing volatility in the bond market and a low-interest-rate environment [1][3]. Group 1: Investment Strategy - Bond fund managers face dual challenges as investor risk appetite shifts towards equity assets, necessitating adaptive investment strategies [1][2]. - The focus should be on capturing event-driven opportunities and trading pricing discrepancies in bonds, rather than relying solely on individual bond selection for excess returns [2][3]. - Short-duration credit bonds are highlighted as a viable option for stable returns, serving as a supplement to financial management in the current low-yield environment [2][5]. Group 2: Market Conditions - The bond market has experienced fluctuations since September of the previous year, with historical data indicating that high-odds phases for bonds have become less effective due to ongoing interest rate declines [3][4]. - The current low-interest-rate environment has led to a significant reduction in deposit rates, making short-duration bond funds an attractive option for idle cash [5][6]. - Compared to money market funds and interbank certificates, pure bond funds offer a broader investment scope and can serve as a complement to cash management strategies [6]. Group 3: Performance Metrics - Since the management of the fund, the scale of the Guangda Ultra-Short Bond A has increased from several million to 2.1 billion, with consistent positive performance in each half-year period [3]. - As of June 30, the fund achieved a one-year return of 2.42%, outperforming the benchmark return of 1.89% [3].