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“Fixed income plus” girl is a natural investor From Contemporary Yangji girl’s Illustrated Book

The following is the “Fixed income plus” girl is a natural investor From Contemporary Yangji girl’s Illustrated Book recommended by And this article belongs to the classification: Industry information.

“Women are natural investors.” This sentence comes from Warren Buffett’s golden sentence, which seems to be of great practical significance in 2021 when the market is volatile.

After the A-share market entered the lunar new year, the market suddenly appeared “cold in the late spring”, and the Shanghai Composite Index soon dropped 200 points. While most people’s equity account assets are shrinking rapidly, some wise women easily keep their steady happiness.

Recently, Tianhong foundation has released a set of illustrated books of contemporary dependency girls (guchou + chapter), involving 2.38 million “guchou +” fund holders who are “both offensive and defensive, suitable for men and women, old and young”. Among them, there are many interesting discoveries about dependency girls.

According to the report, the average holding amount of pension girls is 23000 yuan, twice as much as that of boys; 80% of pension girls hold for more than three years, with an average holding time of 1408 days.

The girl who has been holding the fund for a long time has a considerable income: the average rate of return of holding the fund for more than three years is more than 30%, which highlights the advantage of “fixed income +” – the withdrawal of products is relatively small, and the holding experience is better. Take Tianhong Ankang health care of Tianhong fund as an example. By the end of 2020, the annual income of Tianhong Ankang health care fund has exceeded 8% in the past eight years, and it has achieved positive income every year.

Charm “solid income +”

“Fixed income +” fund is known as the “advance can attack, retreat can defend” reputation. It looks tall, but it’s grounded.

The investment target of “fixed income +” consists of two parts, one is “fixed income”, the other is “+”. The former is allocated to bond assets with low risk and relatively stable return. This part of the allocation can be understood as the bottom position, which is used to obtain the basic income, and usually occupies the vast majority of the entire portfolio; the latter is to invest in other assets with greater risk than bonds, so as to obtain higher income. Generally speaking, the risk assets behind the “+” include new assets, convertible bonds, secondary market stocks, stock index futures, treasury bond futures, etc.

Considering the differences of assets and strategies, fund companies usually launch a variety of different “fixed income +” products. However, there are two main types of fixed income + funds in the market: partial debt hybrid funds and secondary debt funds. Both of these funds can participate in stock market transactions and have the opportunity to create better returns for investors.

In the total amount of 20 trillion public offerings, “fixed income +” has a place, especially in 2020, the total management scale of “fixed income +” fund will reach 1.05 trillion yuan, which is 2.53 times of the end of 2019.

In the first two months of 2021, although the stock market is in full swing and the equity funds pop up from time to time, many investors shoot “bullets” at “fixed income +”. Wind statistics also show that the total scale of debt biased hybrid fund + secondary debt base raised reached 138.983 billion yuan, up nearly 390% from 28.558 billion yuan in the same period last year.

“Fixed income +” has also become one of the favorite investment varieties of this year’s girls. They are strict with fund products like big brand bags.

Speak for asset allocation

Gary Brinson, the father of asset allocation, said that successful asset allocation contributes 90% of the investment income.

The “fixed income plus” products are the most typical representatives of asset allocation: “bonds + stocks”, “bonds + convertible bonds + innovation”, “bonds + stocks + stock index futures” Isn’t it to put asset allocation into a product?

In other words, fund managers do asset allocation work for investors: investors can choose to buy and hold for a long time.

In fact, “fixed income plus” strategy does not only mean the simple superposition of stock assets and bond assets, it also requires fund managers to allocate assets reasonably, so as to build a harmonious portfolio. Through the fund manager’s professional asset allocation, the “fixed income +” strategy fund has the opportunity to grasp the assets with better cost performance at different stages.

In the shock market or the recent sharp decline, the advantages of “fixed income +” strategy have been fully reflected.

Because there will be a “seesaw effect” between the bond market and the equity market, and “you go up and I go down”, taking stocks and bonds as a portfolio is a good way to spread risks and deal with fluctuations.

When the risk comes, the investors will not bear large fluctuations like the stock funds, and will not panic when they fall; when the opportunity appears, they will try their best not to be short and get the investment income beyond the pure debt funds. The characteristic of “seeking first, then winning” makes “fixed income +” the most comfortable variety for investors, which is a kind of stable happiness.

Therefore, the “fixed income +” product essentially has a certain “pension like financing” attribute: stable style, pursuit of absolute return; perfect matching of stocks and bonds, not too anxious, timing, long-term market test; long-term matching of funds and investment targets, etc.

Taking Tianhong Ankang health care as an example, as of the end of last year, since its establishment, the cumulative return rate of the fund was 91.7%, and the annual return rate was 8.37%, which exceeded the benchmark return rate of the same period by 54.95%. During the same period, the maximum withdrawal rate was 8.82%, which occurred during the stock disaster period, and the maximum withdrawal rate in the rest of the period was no more than 3%, which was far lower than the average of 24.39%. During this period, the market is unpredictable and various styles are staged in turn.

It is worth mentioning that relying on the management and trading experience of trillions of yu’ebao, no matter how large the scale is and how complex the product strategy is, Tianhong is able to manage “fixed income +” with ease.

Fund “experience” is very important

In fact, Buffett is a relatively stable long-term investor. He once said: “the stupidest motive in the world to buy stocks is that stock prices are rising.” Since the year of the ox, there has been an adjustment in a shares, and “Mr. market” has taught a lesson to the investors who were crazy to catch up with the high prices a few days ago.

Like Mr. Buffett, Jiang Xiaoli, general manager of Tianhong fund’s fixed income department, is in awe of securities investment. She often said, “I hope to bring you a good experience of buying funds.”.

“In an epic shock, it’s irresponsible to bet on either side easily. I adjust my position and try to avoid volatility through constant hypothesis testing. Our goal is not to lose a lot of money. It doesn’t matter if you lose a little money. In a certain market, you can make more money. ” Jiang Xiaoli said.

There are many “fixed income +” products on the market. The biggest difference between Jiang Xiaoli and other fund managers is that her goal is to strive for steady returns and absolute returns. Under the premise of controlling the withdrawal as much as possible, she maximized the income and made the holder gain a good experience.

In the past eight years, Tianhong Ankang self-care, which is managed by Jiang Xiaoli, is one of the representative products of Tianhong’s “solid income +” and has made positive profits every year. Before the “debt disaster” in 2016, Jiang Xiaoli identified the risks ahead of time and avoided the significant withdrawal of products. As a result, she has won the double recognition of investors and the industry. She has won the golden bull award, which is known as “the Academy Award of the fund” four times. At present, she manages a number of fixed income funds, and the scale of the funds under management exceeds 10 billion.

More than once, she emphasized the “holding experience.”. “Fund holders experience the product through returns and withdrawals. As a fund manager, before I decide to make an investment, I should think about whether it is appropriate to calculate the ratio of risk to return. ” Jiang Xiaoli said, “I’m a cautious person as a whole. I’m relatively averse to risks. When I’m really uncertain, I tend to avoid risks. Put the judgment of risk return in the front, in the long run, the withdrawal of fund products and sharp ratio will be relatively better. “

In the market, some people compare “fixed income +” to a bowl of porridge. On the basis of white porridge, with the strategies of stocks, convertible bonds and stock index futures, it becomes a bowl of eight treasures porridge full of fragrance.

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