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长城基金:多重利好下,转债行情仍可期
Xin Lang Ji Jin· 2025-11-06 07:29
Group 1 - The core viewpoint of the articles highlights the resilience of the convertible bond market amid fluctuations in the A-share market, with convertible bonds showing less adjustment than underlying stocks and maintaining high price and valuation levels [1] - The convertible bond market is experiencing positive signals from the supply side, including an increase in the number of issuance plans and a faster approval pace, which may lead to marginal improvements in the market [1] - Long-term optimism for the convertible bond market is supported by four key factors: a positive policy stance towards the capital market, the revaluation of Chinese assets amid US-China trade tensions, a long-term trend of asset allocation towards equity markets, and a tightening supply of convertible bonds due to declining stock levels [1] Group 2 - The "fixed income enhancement" funds focusing on convertible bond allocation may become an important choice for investors seeking to balance risk and return, allowing for more flexible engagement with structural opportunities in both the convertible bond and equity markets [2] - The company has developed a diverse "fixed income+" product matrix, emphasizing refined investment management to meet the varied and differentiated investment needs of investors in a complex capital market [2]