A股市场自去年9月底反弹以来，到今年8月底已成功站上3800点，但牛市中波动依然存在，例如在今年 一季度末就出现了一定回调。在此背景下，"固收+"基金因其固收打底、权益增强的多元配置，在市场 波动中展现出平衡风险与收益的独特优势，受到更多投资者尤其是较低风险偏好投资者的青睐。据华西 证券宏观固收团队统计，全市场"固收增强"基金总规模已由今年一季度的13807.34亿元上升至二季度的 14815.72亿元，环比增加1008.38亿元。自去年四季度以来，此类产品已连续三个季度实现规模增长。 基于固收增强基金稳健为先、力争收益的产品特点，建议投资者选取风格稳健、策略明确、经过中长期 市场考验的基金产品。以国海富兰克林旗下"底仓产品线"之一的二级债基国富恒瑞债券（A类： 002361；C类：002362）为例，该基金由知名价值派老将赵晓东担纲管理，以利率债为主的固收仓位积 累安全垫，通过不超过20%的权益仓位追求超额收益。 Wind数据显示，截至8月末，国富恒瑞A近一年和三年回报分别达到10.71%和15.97%，均优于二级债基 同期9.92%和7.95%的平均回报。而自赵晓东2016年2月首发管理该基金以来，累计回 ...

Core Viewpoint - The article discusses the significant divergence in performance among bond funds, attributing it to the different "schools" or types of bond funds available in the market [1]. Summary by Category Bond Fund Types - **Short to Medium-Term Bond Funds**: Focus on bonds with maturities of 1-3 years, primarily investing in high-rated government bonds and credit bonds. They generally offer annualized returns higher than money market funds, suitable for short-term capital (half a year to 1 year) and conservative investors. High liquidity allows for easy redemption [1]. - **Long-Term Bond Funds**: Invest in bonds with maturities of 5-10 years, typically offering annualized returns higher than short to medium-term bond funds. These funds are suitable for long-term idle capital and investors who can tolerate volatility over a period of 1 year or more [2]. - **Pure Bond Index Funds**: Track specific bond indices (e.g., government bonds, policy bank bonds) and generally provide slightly lower returns than actively managed funds. They are suitable for investors preferring transparency and low-cost allocation, with moderate liquidity requiring attention to index rebalancing cycles [2]. - **Enhanced Bond Funds**: Comprise at least 80% bonds and may include convertible bonds or stocks (up to 20%). They typically offer higher returns than pure bond indices and are suitable for investors seeking yield enhancement while being able to accept short-term drawdowns [2]. - **Mixed Bond Funds**: Invest 60%-80% in bonds and 20%-40% in stocks, generally exhibiting higher volatility. They are suitable for investors with strong risk tolerance and are recommended for long-term holding (3 years or more) [2].