Group 1 - The recent Central Political Bureau meeting has set a clear direction for economic work in the second half of the year, emphasizing the importance of enhancing the attractiveness and inclusiveness of the domestic capital market [1] - The new emphasis on "enhancing attractiveness" marks a significant elevation of the capital market's importance, which is expected to boost market sentiment and alleviate concerns regarding domestic and external demand declines [1] - China International Capital Corporation (CICC) believes that the meeting's positive signals will support a continued upward trend in the domestic equity market, while the bond market remains favorable due to expected loose monetary policy [1] Group 2 - The Huian Quality Selected Incremental Bond Fund is gaining attention as it allows for a minimum stock allocation of 5%, compared to traditional secondary bond funds which typically have a stock allocation of 0-20% [2] - The new fund has a 6-month construction period, allowing for flexible adjustments to the investment portfolio based on market conditions, which can help in accumulating quality assets [2] - The performance benchmark for the fund is based on a combination of high-quality credit bonds from central enterprises and dividend quality indices, emphasizing profitability and growth potential [2]

日前召开的中央政治 局会议重磅定调，为下半年经济工作明晰方向和重点，诸多新提法也传递出积极 信号。其中提出要"增强国内资本市场的吸引力和包容性，巩固资本市场回稳向好势头"，而关于"增强 吸引力"的说法是首次在政治 局会议提及，将资本市场的重要性上升到新的高度。 风险提示：本文观点仅供参考，基金有风险，投资须谨慎。 目前发行进入冲刺阶段的汇安质选增利债券型基金(A类024222，C类024223)就备受关注。相较于传统 二级债基投资股票仓位为0～20%的设置，汇安质选增利债券基金股票仓位最低为5%，股票仓位在5%～ 20%，稳中求进有望更添一筹。 同时新基金没有历史包袱，有长达6个月的建仓期。面对行情波动，相对更加从容，也能充分利用建仓 期根据市场情况灵活调整建仓节奏和投资组合，把握机会逢低买入，积攒优质的筹码。 为了进一步帮助投资者提升持基体验，汇安质选增利债券型基金以"中证智选央企质量信用债指数收益 率*85%+中证红利质量指数收益率*10% +银行活期存款利率(税后)*5%"为业绩比较基准，固收基准为中 证智选央企质量信用债指数是首支以高质量发展为主题的债券型指数，聚焦央企高质量信用债，汇安质 选增利债券 ...

Group 1 - The equity market has recently reached new highs, with the Shanghai Composite Index surpassing 3600 points, leading to disturbances in the bond market due to the "stock-bond seesaw" effect [1] - The 10-year government bond yield has risen sharply to 1.73% as of July 25, marking a year-to-date high, driven by rising inflation expectations and changes in the funding environment [1] - Citic Securities attributes the recent bond market pullback to increased inflation expectations, high previous market congestion, and marginal changes in the funding environment [1] Group 2 - Huaxi Securities predicts that the bond market may have already passed its most challenging phase, with expectations of improved funding conditions supported by the central bank's actions [1] - The central bank's proactive measures, including a net injection of 100 billion yuan through MLF and a significant reverse repo operation, indicate a commitment to stabilizing the funding environment [1] - The bond market is expected to benefit from the central bank's continued support, particularly for mid-to-short-term and credit bonds [1] Group 3 - Huian Fund's research team notes that after significant redemptions, the central bank's large net injection has stabilized market sentiment, leading to cautious short-term expectations for interest rates [2] - Investors are advised to consider short-duration bond funds, which are less affected by interest rate fluctuations, as a preferred option for managing liquidity needs [2] - Specific funds, such as Huian Yongli 30-day holding period short bond fund and Huian Yongfu 90-day holding period medium-short bond fund, have consistently achieved positive returns since their inception [2] Group 4 - For investors looking to participate in equity markets while managing risk, the Huian Quality Selected Bond Fund, which focuses on high-quality central enterprise credit bonds and dividend-quality stocks, is recommended [3] - This fund has a unique performance benchmark designed to balance returns from quality credit bonds and stocks, aiming for stable growth [3] - The fund is currently available for subscription across major channels, appealing to investors seeking steady progress [3]

近期沪指一度站上3600点，有种"似曾相识牛归来"的味道。看着指数震荡上行，此前观望的部分投资者 又陷入纠结中：想入场，又担心高位站岗或是太过颠簸；不上车，又担心白白错失机遇。这种情况下， 不妨借助能攻善守的二级债基来"小试牛刀"。目前正在发行的汇安质选增利债券型基金(A类024222，C 类024223)属于二级债基PLUS版，最低股票仓位为5%，一定程度上有望满足投资者"既要又要"的需求。 从二级债基的过往表现看，也显现出攻守兼备、稳健增值的特性。以万得混合债券型二级指数为例，据 Wind数据统计，截至2025年7月24日，近十年万得混合债券型二级指数涨幅35.98%，年化波动率 4.19%，同期沪深300涨幅和年化波动率分别为-0.65%和20.36%。从年度表现看，在沪深300指数负收益 的年份，万得混合债券型二级基金指数表现也相对坚挺。 放眼中长期，在债券整体收益中枢下降、权益市场收益中枢抬升的背景下，股债价值更趋均衡，做股债 大类资产配置"固收+"产品的吸引力在提升。汇安质选增利债券型基金在债券夯实地基的同时，又通过 适度参与权益投资力争增厚收益。该基金此时发行，有助于满足低利率和高波动背景下，投 ...