从直接原因看，持续的低利率环境，让无风险收益率长期在低位徘徊。如果固定收益类产品的收益难以 跑赢通胀，"资产荒"的焦虑，将驱动资金转向收益更高的地方。 当含"权"产品成为进击低利率的"长矛" 资本逐利而行。在利率持续走低的背景下，居民资产流向悄然生变。 过去一年间，低风险类资产的回报率正在全方位走低。曾经备受青睐的货币基金，其年化收益率已经逼 近1%；绝大多数银行理财产品的年化收益率也低至2%左右；保险公司分红险等理财型产品，其预定利 率也将下调至2%以下。上述产品收益率的持续下行，对于投资者来说，其吸引力已大不如前。 在流动性宽松的背景下，资金也在流向潜在收益更高的地方。从最新发展态势看，含权产品开始升温， 二级债基与"固收+"基金的热度逐步攀升。 以南方益稳稳健增利债券基金为例，该基金7月28日发行，8月4日就宣布提前结束募集，募集规模上限 高达50亿元，作为二级债基，可投资不超过基金资产20%的权益资产。此外，今年二季度，大成元辰招 利债券基金规模增长超70亿元，景顺长城稳健增益债券基金、景顺长城景泰纯利债基金等均超50亿元。 "固收+"基金"受宠"，缘于居民资产配置正在转向含"权"产品。 事实上，理性 ...

上天天基金APP搜索【777】注册即可 领500元券包，优选基金10元起投！限量发放！先到 先得！ 随着市场反弹，大量资金借道基金入市。 ETF往往具有较强的"低买高卖"特征，8月6日市场上涨，当日超70亿元涌入权益类ETF。此外，近期， 绩优主动权益类基金频频限购，新基金发行市场也显著回暖，多只权益类基金发行规模超过10亿元，含 权类"固收+"产品更是出现按比例配售。 单日超70亿元涌入ETF 股票型ETF重现净申购。8月以来，资金持续流出股票型ETF，8月6日，资金面发生逆转。随着市场走 强，当日50亿元涌入A股ETF。从资金流向看，多只宽基ETF获净申购。据Choice测算，南方中证 1000ETF净申购额为12.05亿元，易方达中证A500ETF、南方中证500ETF净申购额均超过5亿元。部分行 业主题ETF也明显吸金，国泰证券ETF净申购额为6.32亿元，易方达机器人ETF净申购额也超过2亿元。 港股主题ETF持续吸引资金涌入。8月6日，港股主题ETF净申购额为21亿元，其中富国港股通互联网 ETF净申购额为7.55亿元，华夏恒生科技指数ETF、汇添富港股通创新药ETF、广发港股创新药ETF等净 申 ...

Core Viewpoint - The South Fund's "South Stable" bond fund has successfully raised over 5 billion RMB in just 6 trading days, reflecting strong investor demand for low-volatility products and the effective collaboration between Guangfa Bank and South Fund [2][4]. Group 1: Fund Performance and Market Demand - The "South Stable" bond fund is the largest newly issued non-holding period secondary bond fund this year, indicating a significant market interest in such investment vehicles [2]. - The fund aims to provide long-term stable returns by using high-quality bond assets as a base while flexibly allocating up to 20% in equity assets to enhance returns [4]. - The fund managers, Liu Shukun and Liu Yicheng, bring extensive experience to the table, focusing on leveraging their strengths to create a robust investment tool [4]. Group 2: Strategic Partnerships and Brand Development - "Guangfa Select" is a key brand for Guangfa Bank in the fund business, emphasizing professional service to help clients achieve long-term stable returns [6]. - The "South Stable" fund is the third product under the "Guangfa Select" brand, following the successful launches of "South Yu Stable" and "South Hao Stable," showcasing a consistent strategy to enhance client profitability [6]. - The collaboration between South Fund and Guangfa Bank has a 17-year history, marked by successful joint efforts in public retail business [6]. Group 3: Future Outlook and Industry Development - The public fund industry is expected to continue leveraging its professional capabilities to empower the real economy and enhance investor satisfaction under the guidance of the "Action Plan for Promoting High-Quality Development of Public Funds" [7]. - South Fund and Guangfa Bank plan to maintain their collaborative efforts to support investors in achieving wealth growth, contributing to the industry's transition to a new phase of high-quality development [7].

Core Viewpoint - The "fixed income +" strategy is gaining traction as a new consensus in the market, focusing on the combination of stocks and bonds to rebalance risk and return, becoming a core focus for household asset allocation [1]. Group 1: Fund Overview - The Southern Yiwen Stable Income Bond Fund, managed by Southern Fund and custodied by Guangfa Bank, officially launched on July 28, with strong investor interest on the first day [1]. - As a low-volatility secondary bond fund, Southern Yiwen employs a stock-bond hybrid strategy aimed at controlling risk while maximizing returns, aligning with the characteristics of secondary bond funds [4]. Group 2: Brand and Management - Southern Yiwen is part of the "Guangfa Selected" series, a key brand in Guangfa Bank's fund business, which aims to provide professional services for long-term stable returns to investors [4]. - The fund will be co-managed by experienced fund managers Liu Shukun and Liu Yicheng, both of whom have extensive backgrounds in investment management [4][5]. Group 3: Fund Managers' Expertise - Liu Shukun, with nearly 21 years of experience and over 13 years in investment management, emphasizes a research-driven, value-investing approach, focusing on large-cap and value stock opportunities [4]. - Liu Yicheng, possessing 17 years of experience and over 15 years in investment management, specializes in comparative research of major asset classes and is adept at convertible bond investments, particularly in a declining bond yield environment [5].

Core Viewpoint - The "fixed income +" strategy is gaining traction as a new consensus in the market, focusing on risk and return rebalancing, becoming a core focus for household asset allocation as risk-free yields decline and equity market activity increases [1] Group 1: Fund Launch and Strategy - The Southern Yiwen Stable Income Bond Fund, managed by Southern Fund and custodied by Guangfa Bank, has officially launched, with strong investor subscription on the first day [1] - As a low-volatility secondary bond fund, Southern Yiwen employs a mixed equity and bond strategy aimed at controlling risk while maximizing returns, aligning with the characteristics of secondary bond funds [1] - The fund is part of the "Guangfa Selected" series, which aims to provide professional services to help clients achieve long-term stable returns, showcasing the bank's advantages as a financial product platform [1] Group 2: Fund Managers - The fund will be co-managed by seasoned fund managers Liu Shukun and Liu Yicheng, both of whom have extensive experience in investment management [2] - Liu Shukun, with nearly 21 years of experience and over 13 years in investment management, emphasizes a research-driven, value investment approach, focusing on large-cap and value stock opportunities [2] - Liu Yicheng, with 17 years of experience and over 15 years in investment management, specializes in comparative research of major asset classes and is adept at convertible bond investments, aiming for long-term excess returns [2]

Core Viewpoint - The launch of the Southern Stable Income Bond Fund aims to meet the growing demand for stable and high-yield investment products in a complex market environment, focusing on low volatility and high certainty [1][2] Group 1: Fund Overview - The Southern Stable Income Bond Fund will officially launch on July 28, 2025, and is designed to provide a flexible investment tool that balances stability and returns [1] - The fund adopts a low volatility strategy and references annuity investment concepts, targeting long-term stable investment experiences for investors [2] - It is classified as a low-volatility secondary bond fund, with equity positions controlled between 5% and 20%, aiming to maximize returns while managing risks [2] Group 2: Investment Strategy - The fund employs a dynamic adjustment of stock and bond positions, utilizing annuity risk control methods to achieve maximum returns while controlling risks [2] - The investment strategy includes participating in new stock subscriptions to enhance returns, selecting high-rated credit bonds and money market instruments for the bond portion, and focusing on undervalued high-dividend value stocks and competitively strong growth stocks for the equity portion [2] Group 3: Management Team - The fund is co-managed by experienced fund managers Liu Shukun and Liu Yicheng, who have extensive backgrounds in equity and fixed income investments, respectively [3] - Southern Fund, as a leading asset management institution in China, boasts a strong mixed asset research team and rich experience in pension fund management [3] - The company has established a comprehensive risk management system to strictly control credit risks, ensuring the safety of investors' funds [3]