Core Insights - The low interest rate environment combined with increased volatility in equity markets makes low-volatility short- and medium-term bond funds a preferred choice for investors [1] - Huashan Fund's "Fixed Income Family" has shown impressive performance in its low-volatility product line, with several funds ranking in the top 10% of their categories [1][3] Performance Summary - Huashan Tianrong's net value growth rate over the past three years is 8.79%, outperforming its benchmark of 7.84% [1] - Huashan Anpu achieved a net value growth rate of 11% over the same period, with a benchmark of 4.75%, also ranking in the top 10% [1] - Huashan Pure Bond Fund's net value growth rate is 9.33%, exceeding its benchmark of 4.76%, and received five-star ratings from Guotai Junan and Galaxy Securities for three- and five-year periods [1][3] Fund Management Strategies - The team at Huashan Anpu, led by manager Li Zhenyu, focuses on adjusting duration and leverage, concentrating on high-grade credit bonds to enhance returns [2] - The strategy involves selecting specific bonds to capitalize on trading opportunities, particularly in a steepening yield curve environment [2] - Huashan Pure Bond Fund manager Zheng Ruxi noted that the bond market's adjustment in Q3 was influenced by policies aimed at reducing low-price competition and a strong equity market, which prolonged the adjustment period [2] Market Outlook - After the adjustments in Q3, bond yields have risen to higher levels, indicating a gradual entry into a more favorable allocation zone [2] - Looking ahead to Q4, Huashan Tianrong's manager Bao Yueyu plans to focus on capturing opportunities in long-duration interest rate bonds that have become undervalued after recent adjustments [2]