种一棵树，最好的时间是在十年前，其次是现在。 在固定收益这片广袤土地上，十年前便把短期纯债、中长期纯债、一级债基、二级债基、偏债混合型等不同品种"树苗"栽种齐全的基金 公司，数量并不多。 Choice数据显示，截至2025年6月30日，10年前就把上述5类品种均布局齐全的基金公司仅有5家。 从基金管理人维度看，能够在十年前就谋篇布局，布局齐全产品线，既说明其在大固收领域配备的投研团队实力比较强，也说明公司在 细分品类布局上富有远见。 这些产品中，广发聚鑫、广发聚利LOF、广发双债添利和广发集利一年定期开放债券都是最近十年由同一位基金经理管理的产品。 广发聚鑫是由广发基金副总经理张芊管理的二级债基，迄今运作已超过12年，截至7月28日，基金自成立至今以来的累计回报达 181.10%，成立以来年化回报达到8.88%。 广发聚利、广发双债添利则是由债券投资部副总经理代宇管理的一级债基，成立以来净值增长144.59%和76.46%，区间年化回报为6.6% 和4.52%，这三只非持有期产品截至今年6月底的规模均超百亿。 从组合管理视角看，这些产品都积累了十年的实盘管理经验，更难得的是，有些产品最近十年都是由同一位基金经 ...

Core Viewpoint - The investment strategy emphasizes risk control while pursuing stable returns for investors, particularly in fixed income products [1][4]. Group 1: Investment Philosophy - The primary goal is to provide relatively stable returns for investors with a low to medium risk appetite, ensuring a strong focus on risk management [1]. - The investment approach combines macro perspectives with trading strategies, focusing on a core position in pure bonds to provide beta returns, while using interest rate fluctuations and convertible bonds to enhance alpha returns [4][5]. Group 2: Investment Strategy and Performance - The investment manager, Song Qianqian, has a background as a trader, which has ingrained a strong risk awareness and liquidity management skills [2]. - The performance of the managed products shows a high success rate, with 12 out of 14 quarters achieving positive returns, resulting in a quarterly success rate of 86% [1][3]. - The strategy involves dynamic adjustments based on market conditions, focusing on the relative value of assets, such as credit spreads and yield curves [5]. Group 3: Product Management - The managed products include a variety of fixed income funds, such as short-term and medium-term bond funds, with a focus on different risk profiles [1][2]. - The pure bond fund, favored by fund of funds (FOF), has a market value held by 42 FOFs amounting to 613 million yuan [3]. - The investment team employs a comprehensive research approach for convertible bonds, ensuring strict credit quality control and providing a curated pool for flexible allocation [6].