Convertible bond funds lead debt base gains in July
Original title: Convertible bond funds led the rise of the bond base in the previous July, when China and Europe rose by more than 20%Up to 98% of the debt base had achieved positive returns in the first seven months.
Statistics show that the ChinaBond Total Wealth Index increased during the year.
11%, the average return of pure bond funds this year.
3%, under estimates, the first-tier debt base with new functions converted the average return of 3 in the first seven months of this year.
4%, and the average yield of the secondary debt base of the configurable equity asset position is 5.
Judging from the rankings, convertible bond funds overlapped the top of the list without any surprises, while the increase in Bosch convertible 成都桑拿网 bonds and China-Europe convertible bonds increased by more than 20% in the previous July, becoming the crown and runner-up.
Specifically, the BOE convertible bonds enhanced A and C’s net value yields were 22 respectively.
The second quarter report showed that its stock assets were 17.
49%, bond assets are 79.
67%, while convertible bond assets accounted for 84% of the fund’s NAV.
91%, about 85 in the first quarter.
A slight decrease of 94%.
In the second quarterly report, the fund manager introduced that the convertible bond market itself has experienced a quarter of absolute growth and the absolute price is high. It is estimated that the recovery is obvious and the conversion rate is high. Affected by the decline in the equity market and its pessimistic expectations, a wave of convertible bond market appearsObviously adjusted, the maximum adjustment range from the high point reached 10%, and then rebounded in the recovery of equity market sentiment, and finally the CSI convertible bond index closed down 3 in the second quarter.
In the “combination, we insist on the strategy of selecting superior coupons first, and found a prospect of the fundamentals of the coupons. The position remains at a neutral high position, and the basic configuration of leading companies in finance, consumption and emerging and development directions is maintained.
“In the case, still good gains in the first seven months.
Among Bosch’s few holdings of convertible bonds, three of the top ten heavy stocks in the second quarter were insurance stocks and one bank stock, showing its favor for the large financial industry, and more insurance companies just releasedThe second quarterly report shows that the overall performance has been greatly improved, which has enabled the fund’s performance to form a strong support.
China-EU convertible bonds A and C also obtained 21 in the first seven months.
With a yield of 01%, bond assets also reached 77 in the second quarter.
33% of its convertible bond assets account for 110% of the fund’s net asset value.
The fund manager said that in the second quarter, the convertible bond market followed a certain degree of adjustment in equity. The adjustment range significantly exceeded the property rights, reflecting better defense measures for convertible bonds. Some convertible bond assets with good fundamentals entered a better 无锡桑拿网 position after adjustmentAllocation area; At the same time, the issuance rhythm of the primary market for convertible bonds is still fast. Equity adjustments have led to the return of pricing of new bonds to reasonable prices, and some high-quality convertible bonds present better allocation opportunities.
According to the analysis of Huatai Securities’s fixed income team, at present, the internal economic conditions and domestic actual policies seem to increase the probability of the internal return to the preventive model at the end of last year, and the probability of the economy surpassing expectations continues to decline.
The short-term fundamental information is positive. In July, credit demand did not seem to be strong, and industrial added value was likely to weaken.
Looking at the general direction, the bond market, especially interest rate debt risk, is still small, and further reduction is a high probability event.
Another agency believes that the current 10-year bond spread between China and the United States is about 114bp, which is higher than the “comfort” range of 80-100bp. For foreign capital, domestic bonds still have a good appeal.
If the number of interest rate cuts by the Federal Reserve increases during the year and the spread between China and the United States widens, the expansion of imports will increase, which will benefit the domestic bond market.
The current bullish tone of the bond market has not been completed, and the macro environment is generally positive for the bond market. Although economic data may be repeated, the overall trend is still downward.
At the same time, with the economic downturn, monetary policy will usher in a certain space, the short-term interest rate of bonds may decline, and the long-term interest rate trading space will also appear.
From the drop list, under the situation of diversified bond market trends and credit risk, there are also a small number of bond fund performance changes, and Chuangjinhexin Prestige Pure Pure Bonds fell by 10 in the previous July.
09%, ranking first in the decline.
The second quarterly report shows that its policy financial debts account for 112 of the fund’s net asset value.
97%, mainly CDB 1804, and the bond fell 0 in the second quarter.
33%, the first quarter is also dominated by policy financial debt.Golden Eagle, which ranked second in the decline, had a net debt, and its net worth fell by 6 in the first seven months.
27%, check its heavy warehouse bonds in the first and second quarters for policy financial debt and government bonds.
For the first seven months of bond funds, the top 40 ranking securities referred to as the gradual unit net value scale for the first seven months of July. Scale securities referred to as the gradual unit net value for the first seven months of July. Percentage increase in the scale of the exchange rate.
2248 Chuangxin Trust Pure Bond-10.
00052 Bo Shi convertible bonds strengthen C22.
7973 Golden Eagle enjoys pure debt-6.
00483 China-Europe Convertible Bond A21.
48304 China-Europe convertible bonds C21.
4778 Chuanghexin Zuntai Pure Bond-5.
00305 Changsheng Convertible Bond C20.
2082 Galaxy Terry I-3.
60106 Changsheng Convertible Bond A20.
In 1981 Nanfang Changyuan Convertible Bond C-3.
10417 Huaan convertible bonds A20.
0118 Soochow Dingli -3.
58388 Huaan Convertible Bond B20.
4066 Soochow Dingyuan double debt C-3.
04299 Huitianfu Convertible Bond A18.
9823 Nanfang Changyuan Convertible Bond A-3.
142410 ICBC Credit Suisse Convertible Bonds18.
641.3077 Soochow Dingyuan double debt A-3.
000711 Changxinlifa 18.
6763 Western Gain wins C-3.
450312 Huafu Convertible Bonds18.
5700 Haifutong Ruifu-3.
963213 Huitianfu Convertible Bond C18.
2827 Hui’an Wenyu -3.
354414 Southern Greek yuan convertible bonds 18
5907 Western Gain wins A-2.
059415 Win Win Taylor C17.
0000 Furong Fugan C-2.
047716 Xinjiang Qianhai United Swimming Yi pure debt A17.
6799 Furong Fugan A-2.
902617 Changan Hongye Short-term Debt C17.
0139 Soochow Youxin Steady C-2.
002318 Huabao convertible bonds 17.
5869 Soochow Youxin Steady A-2.
116019 Changan Hongye Short-term Debt A17.
0111 Rongtong Rui C-2.
006320 Penghua convertible bonds17.
140.8012 China Post Zengli -2.
010121 Huaxia Dingpei A17.
0355 Rongtong Tongrui AB-2.
134422 Huaxia Dingpei C16.
3321 Ping An Huiyu C-1.
009823 Soochow CSI Convertible Bonds16.
1936 Huaxia Dingnuo three months A-1.
909624 Tianzhi convertible bonds strengthen A16.
3223 Ping An Huiyu A-1.
003425 Tianzhi convertible bonds strengthen C16.
9088 Beixin Ruifeng has a stable income of C-1.
662526 BOC convertible bonds strengthen A16.
6679 Beixin Ruifeng stable income A-1.
517327 BOC convertible bonds strengthened B16.
5065 West gains Cheung Yat A-1.
008028 Changan Hongyuan Pure Bond C15.
0313 Castrol’s medium-term Treasury bond ETF links A-0.
051229 Huaxia convertible bonds strengthen A15.
7187 ICBC Credit Suisse Tim B-0.
222730 Changan Hongyuan Pure Bond A14.
0326 ICBC Credit Suisse Tim Fu A-0.
230231 Qianhai Kaiyuan Xianghe A14.
7778 Dacheng Jingrong C-0.
000032 Qianhai Kaiyuan Xianghe C14.
2470 Tianzhi Xinli C-0.
000133 Fu Anda enhanced earnings A14.
4945 Hongta Red Clay Merchants C-0 for one year.
064734 Cathay Pacific Convertible Bonds13.
3554 CCB Runli enhanced C-0.
356335 Fu Anda enhanced earnings C13.
7338 Harvest’s medium-term Treasury bond ETF links C-0.
011936 Ping An Huicheng pure debt 13.
0067 Sea Fortis is steadily gaining A-0.
026837 Rich countries convertible bonds13.
3839 Yinhua Credit Season Red H-0.
567138 Boshi Credit Bond A13.
9482 Haifutong convertible bonds preferred -0.
055439 Boshi Credit Bond B13.
9482 China Post Ruili enhanced -0.
069740 Yifangda Yuxin C13.
6372 Dacheng Jingrong A-0.
4899 Source: Wind data (scale terminated June 30)