今年以来，股市持续走强，债市受"股债跷跷板"效应有所压制，在此背景下，兼顾收益增厚和风险控制 的"固收+"策略产品火爆出圈，相关产品发行发量，规模显著增长，成为理财行业一道亮丽的风景线。 作为普通投资者，应该如何不空等，不追高，把握市场投资机会？为什么"固收+"策略产品投资正当 时？如何挑选"固收+"策略产品？本期，南财理财通课题组给你支招！ "固收+"策略产品是什么？ "固收+"策略产品本质上是一种"核心-卫星"投资策略，它通过在稳健的固收资产基础上，配置少量其他 风险资产，力求在控制波动的前提下，获取比纯固收产品更具吸引力的回报。 固收打底，追求稳健收益：产品会将不低于80%的资金投资于债券等固收资产，以争取稳定的票息收 入，作为整个投资组合的"压舱石"。这部分是"固收+"策略产品稳健收益的基础。 "+"部分，增强收益弹性：在固收打底的基础上，产品会拿出不高于20%的资金投资于股票、黄金、可 转债、Reits、境外资产、衍生品等弹性更高的资产，或运用打新、量化对冲、红利高股息、被动股票 指数跟踪等多种策略，前者是"+"资产，后者是"+"策略，都是旨在增厚组合的整体收益，这部分是"固 收+"策略产品收益弹性 ...

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]