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上银丰瑞一年持有期混合发起式A
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控得住回撤攻得出收益,上银丰瑞、丰益两只固收+产品近一年超额业绩均居同类前10%
Zheng Quan Zhi Xing· 2025-07-31 08:53
Core Viewpoint - The increasing market volatility in 2023 has led to a significant structural differentiation in the A-share market, with investors seeking stability and yield flexibility in asset allocation, making "fixed income +" funds a focal point in the wealth management market [1] Group 1: Fund Performance - The Shangyin Fengrui One-Year Holding Mixed Fund A achieved a net value growth rate of 9.46% over the past year, significantly outperforming its benchmark return of 4.31% [2] - Since its inception in December 2023, the fund's net value growth rate reached 18.65%, compared to a benchmark return of 7.49%, indicating a clear excess return [2] - The fund ranks in the top 14% for one-year performance among its peers, with a maximum drawdown of -2.34%, well below the average of -4.78% for similar products [2] Group 2: Investment Strategy - The Shangyin Fengyi Mixed Fund A reported a net value growth rate of 6.34% over the past six months, with a one-year growth rate of 13.25%, far exceeding its benchmark of 4.94% [3] - The fund's stock allocation is 28.22% of total assets, leveraging the advantages of fixed income + products to enhance returns through selective stock picking [3] - The fund manager emphasizes a proactive investment strategy, focusing on sectors with growth potential such as gaming, semiconductors, and healthcare, while also incorporating convertible bonds to enhance yield flexibility [3][4] Group 3: Research and Market Outlook - Shangyin Fund has established a robust research framework, focusing on risk control and long-term stability, with a comprehensive investment research center [5] - The fund anticipates a stable macroeconomic environment, with a focus on sectors like big finance, military industry, innovative pharmaceuticals, and AI applications, as well as resource commodities like gold and copper [6]
上银基金精品“固收+”系列产品的配置之道
Sou Hu Cai Jing· 2025-05-12 00:46
Core Viewpoint - In Q1 2025, global capital markets experienced increased volatility due to complex internal and external environments, leading investors to focus on "fixed income plus" products that combine bond assets with equity exposure for enhanced returns [1] Group 1: Performance of Fixed Income Plus Products - The "fixed income plus" products, particularly the Shangyin Fengrui Mixed Fund and Shangyin Fengyi Mixed Fund, have shown outstanding performance, with the former achieving a cumulative return of 15.70% since its inception in December 2023, which is 2.5 times the benchmark [4] - The maximum drawdown for Shangyin Fengrui Mixed Fund was only 2.34%, significantly lower than the average of 4.59% for similar funds, indicating strong risk control [4] - Shangyin Fengyi Mixed Fund achieved a return of 12.84% over the past year, three times its benchmark return, and ranked in the top 2% for excess returns among similar funds [7] Group 2: Market Conditions and Investment Strategy - The equity market is experiencing a differentiated recovery, influenced by economic conditions and policy expectations, while the bond market remains resilient due to ample liquidity and risk aversion [8] - The "fixed income plus" strategy is gaining traction as it offers defensive characteristics through bond assets while allowing for selective equity investments to enhance returns [8] - The outlook suggests continued macro liquidity and limited upward pressure on interest rates, making fixed income assets a viable long-term investment option [8] Group 3: Research and Management Team Strength - The investment research team at Shangyin Fund has established a comprehensive structure to enhance research capabilities, focusing on risk control and stable long-term performance [10] - The fixed income research team ranks in the top 4% for absolute return performance in the market, while the equity research team also holds a strong position in terms of investment capability [10] - Shangyin Fund has maintained a "0 default" record for its public fixed income products, showcasing its commitment to risk management [10]