Financial Outlook: Earnings Are Not As Good As Monetary Fund.

Due to the stock market crash and the recent fluctuations in the bond market, many capital reserve funds have fallen below the face value, which seems to have cast a shadow over its hot selling in the primary market.

And investors are beating drums in their hearts: this year, the guaranteed fund income is not as good as the Monetary Fund.

In terms of earnings this year, the average yield of guaranteed funds is not as good as that of Monetary Fund, but the difference between them is less than 2%.

Data show that as of May 24th this year, the guaranteed fund's arithmetic average yield is -0.63%, the average arithmetic yield of IMF is 0.98%, the difference between them is 1.58%, the difference is only equivalent to the subscription fee of an equity fund, and the attraction of IMF earnings is not obvious.

In the eyes of professionals, the average yield of the guaranteed fund in the last 5 months is not comparable to that of the IMF.

But in the long period of time, the yield of guaranteed funds is more imaginative.

According to statistics, the first guaranteed fund and the first Monetary Fund in the whole market were born in 2003. Since May 24th, the cumulative yield of two funds has been 408.47% and 44.33% respectively, with an annual yield of 13.39% and 2.27% respectively.

It is worth mentioning that the capital preservation fund suffered a 25% withdrawal in the 2008 financial crisis.

The maximum retracement is zero, but the earnings charisma of the guaranteed fund still shines.

"The new guaranteed fund is equivalent to providing a virtual option for investors to share the stock market opportunity."

Wang Yuke, an aspiring fund manager of GF, introduces that most of the assets will be invested in low-risk assets such as bonds, bank deposits and so on.

When the fund portfolio is built enough security cushion, a small portion of assets can be invested in high-risk species such as stocks or options to obtain excess returns.

Once there is investment opportunity in the stock market, the yield of the guaranteed fund will show enough flexibility and the proceeds will have enough imagination.

The third party Research Institute analysts pointed out that the capital preservation fund almost does not invest in equity assets before building enough safety cushion, so the capital preservation fund is also equivalent to the bond fund, which may cause some losses in the short term because of market fluctuations, but it still belongs to the low risk domain.

When the safety cushion is established, the capital preservation fund sets up some equity assets, showing the upward elasticity of earnings.

The IMF mainly invested in short-term bonds.

Such money market instruments are essentially cash management tools. Although they will not lose money, the income space is also very narrow. In recent years, the average annual income level has remained between 3% and 4%.

It is understood that GF steady margin is the third "stable" series of guaranteed products launched by GF fund. Its brothers fund, GF, the stable and secure capital, and GF steady Xin Bao were set up in February 4th and March 21st respectively.

Compared with the guaranteed fund established in the same month, the "stable" series fund performed well.

Data show that in February this year, a total of 8 guaranteed funds were set up. Up to May 20th, the net value of GFA has been increased by 0.5% since the establishment of the company. It has been ranked the first fund in the same period. Since the establishment of the company, the ratio of SHARP has been 0.0648. It is the only product with a SHARP ratio that is positive in the capital reserve fund established in the same period.

Since its establishment, the net value of GF has been increased by 0.3%, ranking the third in the same period. Since its establishment, the net value has been retraced to 0. Since its inception, the SHARP ratio has been 0.0961, ranking second in the same period.

The research center points out that the SHARP ratio reflects the unit risk within the fund.

Beyond the risk free rate of return.

The larger the SHARP ratio, the higher the risk return of the fund's unit risk. It shows the advantage of GF in the capital preservation fund strategy in the current fluctuating market.

To this end, the industry believes that the gf's stable capital reserve fund is currently on the bond market adjustment, which has a high long-term allocation value.

Zhou Xin, an analyst at Chaoyang fortune fund research center, also pointed out: "the capital preservation fund is essentially a strategy of losing time and not losing money. During the period of the capital market, the trend of the stock market is going down, it can keep the valuable principal and even bring some benefits to investors. When the market rebounding, it can be resurrected again."

The GFA steady fund is about to start in May 30th. It is such a product with high risk and benefit price ratio. Wang Yuke, a prospective fund manager, has 9 years' experience in securities business. His investment philosophy is "pursuing the risk return and cost performance ratio of asset allocation".

Wang Yuke believes that the moment is a good opportunity for capital preservation funds to build positions.

At present, bond market is in a concussion market where risks and benefits coexist. In order to seize the opportunity of market fluctuation, the government will seize the opportunity of the market fluctuation, and get the coupon income from the allocation of high-grade credit bonds, and on the other hand, grasp the trading opportunities from the fluctuations.

Among them, investment targets are high quality credit varieties in GF bond investment credit bank, so as to fully guarantee asset safety.

In addition, gf will also enhance its earnings through the new arbitrage.