二级债基

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建信基金:投资正当“时”丨“秋”色斑斓如画,投资恰如其“分”!
Xin Lang Ji Jin· 2025-10-09 09:48
专题:北京公募基金高质量发展系列活动 新时代、新基金、新价值 昼夜在此刻达成微妙的平衡,暑热与寒凉在天地间悄然交割。秋分如同一杆天平,一端盛着丰饶的收 获,一端载着沉静的期许。 万物皆有时,进退皆有度,投资也是如此,需顺势而为,做到恰如其分。建信基金《投资正当"时"》第 30话,看看秋分给我们带来了哪些投资思考。 1、"三秋"大忙时,投资巧耕耘 秋分正是秋收、秋耕、秋种"三秋"大忙的时候,当棉花吐絮,农田里迎来了收获的好时机,同时,人们 抢晴耕翻土地,适时早播油菜、冬麦、冬马铃薯等作物。 二级债基指数近20年走势 数据来源:WIND,截至2025年9月5日。指数数据仅供参考,不作为任何投资建议或收益暗示。指 数过往涨幅不预示其未来表现,也不代表跟踪该指数的指数基金未来业绩。) 定投:不纠结择时,更从容地布局 在最近的市场行情中,我们除了有收获的喜悦,其实也需要适时巧耕耘。 经过前期快速拉升之后,A股短期波动可能所有放大,但这或许也有助于投资者适时布局。那么,当下 该如何进场"播种"? 固收+:既避免踏空,也缓解恐高 股市大涨之际,不少投资者跃跃欲试,但行情好并不完全等于收益好,大涨急跌、频繁买卖中可能回报 并 ...
52只权益类基金长假后“同台竞技”
Shang Hai Zheng Quan Bao· 2025-10-08 18:14
◎记者 赵明超 值得一提的是,主动权益类基金频现比例配售。其中,招商均衡优选混合基金设置了50亿元的募集规模 上限,最终认购申请确认比例仅为56.67%。华商港股通价值回报混合基金一日售罄,募集规模上限为 10亿元,认购申请确认比例为32.95%。类似的还有博道惠泓价值成长混合基金,一日结束募集,认购 申请确认比例为70.78%。 公募发力长假后的新基金发行市场。数据显示,68只基金定档长假后发行,其中权益类基金达52只。从 近期基金的发行情况看,随着市场持续回暖,基金发行热度提升,9月新基金发行规模超过1600亿元, 创下年内新基金发行规模月度新高,多只权益类基金一日售罄。在业内人士看来,居民资金借道基金入 市的热情提升,更多爆款基金值得期待。 权益类基金唱主角 从新发基金类型来看,权益类基金成为新发"主力军"。具体而言,68只新基金中,52只为权益类基金。 其中,34只基金为权益类指数基金,涵盖机器人、创业板人工智能、中证A500红利低波动、中证500、 科创板50等指数。 数十只新基金整装待发。据Choice统计,截至10月8日,根据已发布的基金份额发售公告,自10月9日开 始,将有68只基金陆续启动发 ...
中金基金:完善未来产品布局,构建高质量发展“产品矩阵”
Xin Lang Ji Jin· 2025-09-30 02:36
契合《行动方案》精神,中金基金混合资产的未来产品布局将围绕"精准化、工具化、策略化"展开,构 建层次清晰、风险收益特征鲜明、能够满足不同客户需求的产品体系。 专题:北京公募基金高质量发展系列活动 新时代、新基金、新价值 《推动公募基金行业高质量发展行动方案》(以下简称《行动方案》)的颁布,对公募基金行业服务投 资者的能力提出了更高的要求,《行动方案》也指引基金公司通过优化投资研究、产品设计、风险管 理、市场推广等资源配置,践行长期投资、价值投资、理性投资,努力给投资者带来更优回报。混合资 产业务与《行动方案》的指引方向天然契合,是服务投资者财富管理需求的重要抓手。 混合资产业务具有"覆盖类型广、底层资产多、团队要求高"的特点。产品类型覆盖"一级债基、二级债 基、偏债混合、灵活配置、偏债型FOF"等。底层资产覆盖"股票、债券、可转债、商品、衍生品、 REITs"等几乎全部二级市场核心资产。投资策略的实现既需要有宏观配置的视角,又需要在特定资产上 有深刻的理解,同时各类资产的风险收益特征又要服务于产品整体定位,因此往往体现为"团队作战"且 高效沟通协作。 《推动公募基金行业高质量发展行动方案》是指引行业前行的灯塔 ...
华安基金×工商银行︱智诚相伴共创财富未来
Xin Lang Ji Jin· 2025-09-26 06:36
Core Insights - The Industrial and Commercial Bank of China (ICBC) has launched the "828 Wealth Season" event to enhance wealth management experiences for customers through optimized product offerings, innovative online investment services, and enriched investment education resources [1][2] Product Optimization - ICBC has upgraded and expanded the "Daily Earnings" cash management services, increasing the number of associated money market funds to 106, catering to higher liquidity needs of customers [1] - The bank offers automatic purchase and redemption services for idle funds, making fund management more efficient for clients [1] Innovative Investment Services - ICBC collaborates with fund companies to analyze market trends and monthly selects "Aggressive Strategy" and "Conservative Strategy" fund product configurations [1] - The bank has introduced a "Wish Investment" feature, allowing customers to choose from various financial products for systematic investment [1] - Gold asset allocation services have been optimized, enabling customers to accumulate gold through active saving or systematic investment methods [1] Investment Education Initiatives - ICBC has launched the "Wealth Accompaniment" theme activity, utilizing interactive and gamified approaches to educate customers on investment knowledge, attracting over 6 million participants [2] - The bank emphasizes the importance of understanding risk and encourages customers to make informed investment decisions based on their individual goals and circumstances [2] Partnership with Huazhang Fund - Huazhang Fund, a core partner of ICBC, has a public fund management scale exceeding 740 billion yuan, with over 440 billion yuan in non-monetary management, serving more than 100 million investors [2] - The fund company focuses on creating long-term stable returns for investors, particularly small and medium-sized investors, through a centralized research platform and diversified investment teams [2] Future Outlook - Huazhang Fund aims to enhance its comprehensive strength through technological investments and maintain a focus on professional research capabilities and diversified product lines [3] - The fund is committed to supporting the national economic strategy and meeting the wealth management needs of the public [3]
公募配置型产品“搭桥” 铺就中长期资金入市新路径
Shang Hai Zheng Quan Bao· 2025-09-22 18:48
Group 1 - The core viewpoint of the articles highlights a shift in residents' wealth management preferences from preservation to appreciation, with public "fixed income +" and FOF products acting as a bridge to guide funds into the market [1][4] - The People's Bank of China reported that in August, new deposits from households increased by 110 billion, which is 600 billion less than the same period last year, while non-bank financial institutions saw an increase of 11,800 billion, indicating a trend of funds moving from household deposits to non-bank deposits [2][3] - The performance of public "fixed income +" and FOF products has shown significant growth, with average returns of 9.55% and 36.24% respectively over the past year, and over 300 new "fixed income +" products launched this year, indicating strong market demand [3][4] Group 2 - The trend of increasing equity allocation in secondary bond funds is emerging, driven by policy encouragement and the need for better investment returns as bond yields decline [3][5] - The "fixed income +" funds are expected to play a crucial role in balancing returns and volatility for investors, especially in a market environment where equity assets are improving and bond yields are fluctuating [4][5] - The influx of funds into "fixed income +" products is likely to favor well-managed, high-cash-flow industry leaders, providing new momentum for market stability and value discovery [5]
国联基金|债基小课堂:一图读懂债券基金的分类
Xin Lang Ji Jin· 2025-09-22 09:28
Group 1 - The article discusses different types of bond funds, highlighting their risk-return characteristics [2] - Short-term bond funds invest 100% in bonds with a typical investment period of less than one year, exhibiting relatively low volatility [2] - Pure bond funds also invest 100% in bonds but generally offer lower returns [2] - Medium to long-term bond funds typically invest in bonds with a duration of one to five years, providing a stable investment option [2] - First-tier bond funds primarily invest in the bond market (at least 80%) and can also participate in new issues and convertible bonds, balancing risk and return [2] - Mixed bond funds (fixed income +) and second-tier bond funds invest at least 80% in bonds but can also engage in stock trading and new stock subscriptions, presenting higher risk and return profiles [2] Group 2 - The article categorizes investment directions for bond funds, including interest rate bonds (government bonds, central bank bills, policy financial bonds) which are mainly influenced by policy fluctuations [2] - Credit bonds (corporate bonds, short-term financing bonds, convertible bonds) are primarily affected by the creditworthiness of the issuers [2] - Convertible bond funds mainly invest in convertible bonds, combining characteristics of both bonds and stocks [2] Group 3 - The article also mentions classifications based on operational methods, such as ordinary open-end bond funds, which allow subscription and redemption on trading days [3] - Periodically open/shortest holding period bond funds can only be traded during open periods or redeemed after a set holding period [3]
公募债券基金申报规则有了新变化 促进“固收+”产品发展
Zhong Guo Jing Ji Wang· 2025-09-16 00:23
来源:中国基金报 公募基金落实高质量发展行动方案又有新的举措。 近期,多家基金公司陆续接到通知,公募债券型基金申报规则又有新变化。根据新要求,未来一方面明 确约定最低持股比例的二级债基,原则上自受理之日起15个工作日内完成注册;另一方面,各家基金公 司上报的纯债、未设定最低股票仓位的二级债基、零售版债基的在审产品数量将控制在两只。 对此,多位业内人士表示,此次公募债券型基金上报规则的优化调整,可以说是落实监管提出的"大力 提升公募基金权益投资规模和占比"的大方针,对于引导投资者逐步加大权益类基金配置、增加资本市 场源头活水具有积极意义。 债券型基金产品注册机制 迎来具体时间表 最近发布的《机构监管情况通报》提出要进一步优化公募基金产品注册机制,如今这一最新政策迎来了 具体的实施细则以及落地的时间表。 据中国基金报记者了解,多家基金公司近期接到通知,债券型基金产品注册有了新的调整。 一方面,明确约定股票最低仓位的二级债基实施15个工作日快速注册;另一方面,每家基金公司上报的 纯债基金、未设定最低股票仓位要求的二级债基、零售版债基的在审产品加起来不得超过两只。 值得一提的是,今年年初出台的《关于推动中长期资金入市 ...
这类产品申报,新变化
Zhong Guo Ji Jin Bao· 2025-09-15 15:18
Group 1 - The core viewpoint of the news is that new changes have been made to the public bond fund application rules, aimed at enhancing the quality of public fund development and increasing the scale and proportion of equity investments [1][2][3] - The new requirements specify that secondary bond funds with a minimum stock holding ratio will undergo a rapid registration process within 15 working days from acceptance [3][5] - Each fund company is now limited to submitting a maximum of two products for review, which includes pure bond funds, secondary bond funds without minimum stock holding requirements, and retail bond funds [3][5] Group 2 - The recent adjustments to the bond fund product registration mechanism are part of a broader initiative to optimize the registration process and encourage the growth of equity fund investments [2][6] - There is an expectation that products like science and technology bonds and green bonds will also see expedited review processes [4] - The new requirements are likely to promote the development of "fixed income plus" products, which are increasingly attractive in the current low-interest-rate environment [5][6] Group 3 - Data indicates that 42 secondary bond funds have been established this year, raising a total of over 54.483 billion yuan, reflecting a growing interest in these products [5] - The demand for "fixed income plus" products is high, and their continued emergence is expected to bring additional capital into the market [6]
这类产品申报,新变化
中国基金报· 2025-09-15 15:15
Core Viewpoint - The recent changes in public bond fund registration rules aim to enhance the quality of public fund development and encourage increased investment in equity funds, thereby injecting fresh capital into the market [2][5]. Group 1: New Registration Rules - New requirements specify that secondary bond funds with a minimum stock holding ratio must complete registration within 15 working days from acceptance [5][6]. - Each fund company is limited to submitting a maximum of two products for pure bond funds, secondary bond funds without minimum stock holding requirements, and retail bond funds combined [5][6]. Group 2: Impact on Fund Companies - Fund companies are expected to adjust their product offerings to comply with the new rules, including converting previously submitted secondary bond funds without stock holdings into those with minimum stock holdings [6][8]. - The new rules are anticipated to accelerate the approval process for funds such as science and technology bonds and green bonds, which are aligned with the high-quality development goals [6][8]. Group 3: Market Dynamics - The changes are likely to promote the development of "fixed income plus" products, which are becoming increasingly attractive in the current low-interest-rate environment [8]. - Data shows that 42 secondary bond funds have been established this year, raising over 54.48 billion yuan, indicating a growing market demand for these products [8].
中邮陈晶晶:短期资金要沉淀成中长期资金 投资体验成关键
Bei Ke Cai Jing· 2025-09-05 09:08
Core Insights - The recent salon hosted by the Beijing News Shell Finance Capital Market Research Institute focused on how patient capital can stabilize the market, coinciding with the Shanghai Composite Index reaching a ten-year high of 3800 points, driven by sustained inflows of medium to long-term funds [1][2] Group 1: Market Dynamics - The Shanghai Composite Index has recently stabilized at 3800 points, marking a ten-year high, attributed to the continuous influx of medium to long-term capital [1] - Key contributors to this trend include the acceleration of long-term investment trials by insurance funds, the initiation of public fund long-term assessment reforms, and the optimization of the national social security fund investment management mechanism [1] Group 2: Fund Management Strategies - According to Chen Jingjing from China Post Fund, the potential for investment funds to enter the market is significant, with the transformation of short-term funds into medium to long-term funds dependent on their duration and overall experience regarding returns, volatility, and drawdowns [3] - Fund companies are encouraged to provide high-quality products that balance returns and drawdowns to attract long-term capital, as evidenced by the success of China Post Fund's "steady fixed income plus" strategy [3][4] Group 3: Investment Focus Areas - Fund companies should enhance their product offerings by focusing on sectors with long-term sustainability, such as artificial intelligence, clean energy, and consumer healthcare, while employing strategies that emphasize stable, absolute returns [4] - The performance evaluation of fund managers should prioritize long-term stable returns over short-term rankings to better accommodate the influx of medium to long-term capital [4] Group 4: Institutional Investment Trends - Social security funds and insurance capital are becoming the primary sources of medium to long-term institutional capital entering the market, with public equity funds serving as key allocation tools [5] - Institutional investors show a preference for passive equity funds due to their convenience, liquidity, and low-cost attributes, while active management funds are evaluated based on their ability to generate excess returns [6] Group 5: Fund Performance Metrics - As of the end of 2024, the scale of active equity funds is approximately 33.817 billion yuan, with institutional holdings accounting for about 17.5% [7] - Funds with an average institutional holding of over 30% typically exhibit a five-year annualized return greater than 10% or a 2024 return exceeding 20%, indicating that fund companies can attract institutional investors by demonstrating stock-picking capabilities in high-growth sectors or maintaining performance across market cycles [7]