Core Insights - The article discusses the rising popularity of "fixed income +" strategy products in the current market, driven by a strong stock market and a subdued bond market, highlighting their potential for enhanced returns while managing risks [1][3]. Summary by Sections What is "Fixed Income +" Strategy? - "Fixed income +" strategy products utilize a "core-satellite" investment approach, investing at least 80% in stable fixed income assets to secure steady returns, while allocating up to 20% in higher-risk assets to enhance overall returns [1][2]. Why Invest in "Fixed Income +" Products Now? 1. **Addressing Low-Interest Environment**: These products offer a way to seek higher returns in a persistently low-interest-rate environment by flexibly allocating various assets on a bond foundation [4]. 2. **Seizing Market Opportunities**: They provide a balance between offensive and defensive strategies, appealing to investors seeking higher returns without excessive volatility [5]. 3. **Balancing Risk and Return**: By diversifying across low-correlated assets, these products aim to mitigate risks and achieve stable long-term returns [6]. Representative "Fixed Income +" Products - **Agricultural Bank's "Nongyin Jinqi·Lingdong 90-Day Dual Bond Enhanced Wealth Management Product"**: This product combines ordinary debt assets with convertible bonds, achieving a recent annualized return of 4.76% over one month, significantly outperforming its benchmark [6]. - **China Merchants Bank's "Zhaoyin Wealth Management Zhaorui Zengtai 370-Day Holding Period No. 3"**: This product features a small allocation to a global commodity index, enhancing its strategy with diversified commodity investments [7][8]. - **Ningbo Bank's "QinNing Individual Stock Selection Fixed Income Class Day Open No. 1"**: This product focuses on dynamic industry selection, achieving an annualized return of 6.84% since inception, with a significant increase in asset size [8]. Conclusion - The article suggests that investors should consider diversifying their portfolios by increasing allocations to "fixed income +" products to capture market opportunities and balance risks in a low-interest-rate environment [8].

Overall Performance - The average net value growth rate of RMB "fixed income + equity" public financial products with a maturity of less than 3 months over the past six months is 1.23%, with an average maximum drawdown of 0.05% [5] - 85.58% of the products recorded positive returns in each natural month over the past six months [5] - The top three products in terms of net value growth over the past six months are: 1. Xingyin Wealth Management's "Fengli Xindong Multi-Strategy Technology Growth" with a growth rate of 7.08% 2. Ningyin Wealth Management's "Qinning Individual Stock Selection Fixed Income Daily Open 1" with a growth rate of 5.27% 3. Minsheng Wealth Management's "Guizhu Fixed Income Incremental Seasonal Earnings 90-Day Holding Period 21" with a growth rate of 4.65% [5] Highlighted Product Analysis - Xingyin Wealth Management's "Fengli Xindong Multi-Strategy Technology Growth" was established in February this year, rated R3 (medium risk), with a performance benchmark of "China Bond - New Comprehensive Full Price (1-3 years) Index Yield × 85% + ChiNext Index Yield × 10% + Current Deposit Rate × 5%" [6] - The product is based on bond assets, supplemented by public funds and cash assets, with an equity investment ratio of 1.85% as of the end of the first half of the year [6] - Ningyin Wealth Management's "Qinning Individual Stock Selection Fixed Income Daily Open 1" is rated PR3 (medium risk) and has a relatively high proportion of public fund holdings, resulting in greater net value volatility, with a maximum drawdown of 2.47% over the past six months [6] - As of the end of the first half of the year, the product's public fund holding ratio is approximately 70%, with an equity investment ratio of 16.4% [6] - The product invests in local government bonds, urban investment bonds, policy financial bond ETFs, as well as convertible bonds and exchangeable bond ETFs, with a total asset net value of less than 20 million yuan as of the end of the first half of the year [6]