Core Viewpoint - The "fixed income plus" strategy has gained attention from investors due to its risk-return balance amid declining bank interest rates and volatile equity markets since 2025 [1] Group 1: Strategy Overview - The secondary bond funds adopting the "fixed income plus" strategy typically use fixed-interest assets like bonds and certificates of deposit as a base, while incorporating stocks or other assets to enhance returns, aiming for capital preservation and appreciation [2] - The newly launched Zhongjia Ju Xiang Zhao Li 120-day holding period bond fund employs a "fixed income foundation + equity enhancement" strategy to help investors navigate a volatile market [2] Group 2: Historical Performance - Over the past 15 years, secondary bond funds have effectively captured opportunities during market uptrends and controlled drawdowns during market fluctuations, demonstrating a "slow and steady" characteristic with significant long-term allocation value [3] - In extreme market conditions where the CSI 300 index experienced a maximum drawdown exceeding 40%, the mixed secondary bond fund index had a maximum drawdown of only -12.02%, showcasing strong downside protection [3] Group 3: Asset Allocation Strategy - The ability of secondary bond funds to balance risk and return lies in their scientific stock-bond allocation strategy, which includes a dynamic balance mechanism that uses bonds for stable coupon income while allocating equity positions to capture excess opportunities during market uptrends [4] - The Zhongjia Ju Xiang Zhao Li 120-day holding bond fund focuses on high-grade credit bonds to ensure stable returns while flexibly adjusting duration and trading strategies based on market conditions to enhance yields [4] Group 4: Equity Asset Configuration - The fund employs a multi-strategy investment approach with a high proportion of stable positions and a low proportion of speculative positions, focusing on high-dividend and cash-rich stocks for stable income and defensive attributes [5] - It also considers mid-to-large cap value growth stocks to capture economic recovery and industry upgrade opportunities, alongside growth stocks in sectors like TMT and innovative pharmaceuticals [5] Group 5: Management Team and Expertise - The Zhongjia Ju Xiang Zhao Li 120-day holding bond fund is led by an experienced manager with 13 years in the securities industry, ensuring a robust investment strategy [6] - The fund manager has achieved a cumulative return of 32.42% since inception, significantly outperforming the benchmark [7] - The investment team at Zhongjia Fund consists of over 60 professionals, with most holding master's degrees and having over 7 years of industry experience, contributing to strong performance in both equity and fixed income investments [8]

Core Insights - The article emphasizes the increasing demand for "fixed income +" products as a strategic tool for wealth management in a volatile market environment, highlighting their ability to provide a safety net through bond assets while capturing excess returns through equity assets [1] Group 1: Product Overview - The Zhongjia Fund has launched the Zhongjia JuXiang ZhaoLi 120-day holding period bond-type securities investment fund, focusing on a scientific strategy system to enhance the "fixed income +" layout [2] - The fund aims for short-term capital preservation and strives for positive annual returns while seeking to outperform the yield of similar fixed income + products in the long term [2] - The fund maintains a minimum of 80% investment in bonds, primarily focusing on high-grade credit bonds and interest rate bonds, while flexibly allocating 5-20% in equities, convertible bonds, and exchangeable bonds to enhance returns [2] Group 2: Market Opportunities - Current market conditions provide a favorable window for "fixed income +" strategies, supported by fundamental strengths in equity assets, resilient corporate earnings, and a favorable environment for convertible bonds [3] - Economic resilience and supportive fiscal policies coexist, with positive economic data trends observed in the first half of the year, creating a conducive environment for dynamic balance between equity and bond assets [3] Group 3: Performance and Capabilities - Zhongjia Fund ranks first in absolute returns among pure bond funds over the past decade, indicating strong performance in bond investment [4] - The fund's equity investment capabilities have also been recognized, achieving a five-star rating for three and five-year periods, showcasing its competitive position in the market [4] Group 4: Investment Philosophy - The Zhongjia Fund emphasizes a long-term investment approach, focusing on rigorous asset allocation and dynamic rebalancing to create a sustainable wealth trajectory for investors [5]