Shout Out The Slogan Of "Don'T Lose Money": Who Is The Leader Of "Fixed Income +" Of The Head Public Offering Fund?

Is there a choice to let you stay away from the ups and downs of the shock market and become a peaceful holder?

Choosing to invest in some "low volatility, low withdrawal" and "fixed income +" funds has become the hot spot of asset allocation since 2020, also known as the main battlefield of fund company competition.

In fact, since last year, "fixed income plus" has been popular in financial circles, but this year, "fixed income plus" is still popular.

However, when investors start to switch to "fixed income +" funds, with so many "fixed income +" strategic products, how should investors choose?

In the selection of "fixed income +" funds, a relatively low trial and error cost is to select the powerful companies and the "fixed income +" star fund managers in charge of the fist products. In fact, the products produced by the leading companies in the industry and under the control of star fund managers are obviously more stable. But "fixed income +" star fund managers and their products also have different characteristics.

After the early "fixed income +" leaders such as e fund, huitianfu, Nanfang, Guangfa, ICBC Credit Suisse, CITIC Prudential and Boshi, we continue to take stock of the "fixed income +" heads of Tianhong, Huaxia, China Merchants, Penghua and their classic "fixed income +" funds.

Jiang Xiaoli, fund manager of Tianhong fund "fixed income +"

According to the official data of Tianhong fund, by the end of 2020, there were 23 "fixed income +" products of Tianhong fund, and the enhancement strategy of "fixed income +" covers various types such as new trading, stocks, convertible bonds, etc.

The leader of Tianhong fund's "fixed income +" is Jiang Xiaoli, who is the general manager of Tianhong fund's fixed income department, fixed income institution investment department and macro research department. He has nine years' experience as a fund manager and won the golden bull award four times.

The representative fund of "fixed income +" managed by Jiang Xiaoli is Tianhong Ankang home care A. It was established in November 2012. It is a public offering product which was located in the pension financing tool earlier in China. Since its establishment, it has achieved positive returns for 9 consecutive years (only 4 mixed funds in the whole market). By the end of 2020, the accumulated income is 91.70%, and the average annual income is 8.37%. With outstanding long-term performance, this fund has won many golden bull awards.

In addition, Tianhong Yongli bond a, a bond fund managed by Jiang Xiaoli, was established on April 18, 2008 and has accumulated 39 dividends by the end of 2020.

Jiang Xiaoli pursues absolute return. One of the characteristics of Jiang Xiaoli's pursuit of absolute return is that she has a good grasp of the withdrawal, and strives to make the return ratio of each investment exceed 1.5 in the investment, so as to achieve good control on the withdrawal and let investors have a better holding experience.

"However, in order to better control the withdrawal, we must always put the judgment of risk return first in the investment, and calculate the risk return ratio of each investment, which is the premise of achieving good long-term performance. Specifically, we can try our best to control the risk of return ratio of each investment between 1.5-2. When we are really uncertain, we can choose to avoid the risk. We must not make such fatal mistakes as stepping on thunder in investment. " Jiang Xiaoli said.

Jiang Xiaoli further said: "I am a more cautious person and relatively averse to risks. When I am really uncertain, I tend to avoid risks."

"Fixed income +" control withdrawal is only part of the realization of a good base holding experience, but also needs to meet the investors' pursuit of earnings.

"In the fixed income investment, it is very important to grasp the market trend, especially to judge the turning point of the market. We should not make mistakes in the judgment of the big direction, especially in the big turning point from bull to bear. It may take three years or more to make up for mistakes in the judgment of the big turning point, or it may never be made up for. " Jiang Xiaoli said.

Jiang Xiaoli's famous saying is: "know what ability you have, keep the ability circle, strive for surprise, no shock."

He Jiaqi, manager of Huaxia Fund "fixed income +"

Wind data shows that there are 50 "fixed income plus" funds in Huaxia Fund, with a scale of 32.2 billion yuan.

Huaxia Fund set up Huaxia hope (secondary debt base) in March 2008, and has been working on "fixed income +" for 13 years. According to the statistics at the beginning of March, in 2020, 8 "fixed income +" ranked top 1 / 4 of the same category, and 4 were in the top 3% of the same category.

According to the statistics of Galaxy Securities "fund manager's bond investment active management ability evaluation summary table (arithmetic average)", the average bond investment yield of Huaxia Fund in 2020 ranks top 1 / 114 of the industry.

He Jiaqi is the star fund manager of "fixed income +" of Huaxia Fund, and director of fixed income Department of Huaxia Fund, with over 8 years of investment and research experience.

The "fixed income +" representative fund managed by he Jiaqi is Huaxia Yongfu, partial bond hybrid fund, which was established in August 2013 and has a current scale of 1.7 billion. He Jiaqi took over in September 2016 for nearly five years.

According to wind data, China Yongfu a has achieved 28.05% revenue in the past one year, 48.02% in the past three years, 64.29% in the last five years, and 139.20% in more than eight years since its establishment. The annualized return is 12.06%, which is quite dazzling in the "fixed income +" fund.

At the end of 2020, China Yongfu A's stock position accounted for 28% of the total value. The "+" of "fixed income +" mainly comes from stock positions and convertible bonds.

He Jiaqi is good at convertible bond investment, but has a strong offensive on the basis of fixed income security cushion assets, which makes him a "shield attack" fixed income "pioneer".

He Jiaqi's investment logic is that he is committed to long-term investment and asset class timing, hoping to develop replicable and scale free strategies. In the investment, he does not do short-term operations, long-term positions, and strive to capture the long-term return of equity assets.

"To make" fixed income + "products, we still need to embrace equity assets for a long time. If you only embrace equity assets in a short term, for example, if the market is better and equity is a little better, and you run away with a little fluctuation, in the long run, your performance contribution will be very limited." He Jiaqi said.

"For this year's market, what I see now is that stocks and bonds are not a big year, but there is no particularly big risk," he said. Relatively speaking, the risk return characteristics of bonds, at least for the time being, are better than growth stocks. Relatively speaking, I think that the value of the stock may be better in the current or in the whole year. On the whole, we should lower our expectations for this year's market. "

Penghua Fund "fixed income +" new sharp Wang Shiqian

According to wind data, Penghua Fund has 47 "fixed income +" funds, with a total scale of 34.1 billion yuan.

According to the data of galaxy securities, as of December 31, 2020, the net value growth rate of Penghua convertible bond a fund in 2020 is more than 40%. In addition, there are four fixed income products with the annual net value growth rate of more than 10%, and 10 fixed income products with the annual net value growth rate of more than 5%; from the perspective of relative ranking, in 2020, the yield of 15 fixed income products ranked the top 1 / 4 among similar products, 21 fixed income products ranked top 1 / 3 in the same category.

The representative figure of "fixed income +" of Penghua Fund is the Mesozoic fund manager Wang Shiqian.

Wang Shiqian joined Penghua Fund in July 2014. The types of products under management cover secondary debt base, primary debt base and convertible bond fund, all of which are typical "fixed income +" strategic products.

Wang Shiqian's representative work is Penghua convertible bond. The fund's income in 2020 is 40.35%, ranking the top three in the same category last year.

Wang Qianshi took over Penghua convertible bonds in July 2018, with a scale of 1.818 billion, belonging to a secondary bond fund, which was established in February 2015 for six years.

Penghua convertible bond a, according to the performance ranking list of medium and long-term funds released by Morningstar China, as of December 31, 2020, the annual net value growth of Penghua convertible bond a in recent five years, nearly three years and nearly one year is 8.32%, 19.02% and 40.41%, respectively, ranking second, first and third in the same category.

Wang Shiqian has rich experience in convertible bond investment and is known as "Little Prince of convertible bonds" of Penghua.

Wang Shiqian's other two representative works, Penghua double bond Gali and Penghua double bond poly, are two secondary debt bases with excellent long-term performance.

According to the data of galaxy securities, as of December 31, 2020, the net value growth of Penghua double bond Gali in the past two years and the past five years were 27.34% and 37.14%, respectively, ranking the top 1 / 3 of the same category. Since its establishment in May 2013, the total net value has increased by 79.80%, with positive annual income for seven consecutive years and an annual net worth growth of 8.02%.

In recent two years and five years, the net value growth of Penghua double bond poly was 21.90% and 36.0%, respectively, ranking the top 1 / 3 of the same category. Since its establishment in September 2013, the total return has been 62.27%, which is still 7 consecutive years, with annual positive income and annual net value increasing by 6.86%.

Wang Shiqian pursues absolute income. Under the premise of paying attention to risk control, the portfolio income opportunity is effectively increased through the allocation of stocks and convertible bonds.

Wang Yin, manager of China Merchants Fund "fixed income +"

Wind data shows that China Merchants Fund has 44 "fixed income +" products, with a total scale of 46 billion.

The biggest signboard of "fixed income +" of China Merchants Fund is "Rui" series brand of fixed income plus.

On January 11, this year, aiming at the needs of customers' asset allocation and sound financial management, China Merchants Fund released a series of "Rui" brands with "fixed income +". The outstanding characteristics of the "fixed income + Rui" brand lie in the pursuit of "absolute income", "unified strategy", "strict control of withdrawal" and "fixed CP (partner)".

Up to now, eight products have been launched in China Merchants Fund's fixed income plus "Rui" series, including China Merchants Ruiqing, China Merchants Ruiwen, China Merchants Ruiheng, China Merchants Credit Suisse, China Merchants Ruize, China Merchants Reid, China Merchants Ruiyang, and China Merchants Ruihe.

Wang Yin is the representative of China Merchants Fund's fixed income plus "Rui" brand.

Zhaoruiqing a, managed by Wang Yin, was established on August 24, 2016. It has been tested by bull market, bear market and shock market, and has achieved positive annual returns. Since its establishment, the annualized rate of return has been 9.35%, 13.52% in recent one year, 33.23% in recent three years, and 51.21% since its establishment.

Wang Yin attaches great importance to the withdrawal control. China Merchants Ruiqing a has established a clear and objective investment discipline, which has laid the foundation for the fixed income + Rui series of China Merchants Fund. At any point in the portfolio, the maximum allowable withdrawal (such as 3% and 5%) should be taken as the dynamic value bottom line, and equity assets will face strict constraints when there is a large withdrawal of portfolio net value.

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