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急速赛车开奖官网168:Yinhua Fund Zou Weina: At the time of bond market allocation

时间:2018/4/2 17:57:53  作者:  来源:  浏览:0  评论:0
内容摘要: After more than a year of "winter", the bond market has seen some signs of warming recently. Recently, the reporter interviewed t...

After more than a year of "winter", the bond market has seen some signs of warming recently. Recently, the reporter interviewed the fixed-income star fund manager - Yinhua Fund fixed income deputy director Zou Weina, listening to her interpretation of the 2018 bond market investment opportunities.

Bond bears entering the end stage

“We are relatively optimistic about this year's bond market. After rising in January and February, although the arrival of the inflection point is still not confirmed, it should be at the end of the bear market.” Zou Weina's point of view is very clear.

She said: “We believe that macroeconomic fundamentals will bring certain opportunities for the bond market this year, and with the approach of the new asset management regulations, the market is basically digesting strong regulatory expectations. Multiple factors support the bond market.”

In terms of operations, Zou Weina believes that the most important thing now is to look at the valuation of the securities and see if it is cheap enough. She said: "We had expected that the fund will loosen at the end of last year and added some leverage in advance. The effect was very obvious at the beginning of this year. Many of our targets of interest have a yield rate of 5.3% to 5.5%, and 3%. Compared with the cost of financing, it has considerable configuration value. Nowadays, the bond market is more attractive to some allocation funds, and many institutions are paying attention to our products.”

Select Coin Management Risks

Debt Market Investment for Security The sexual requirements are high. In the first quarter, there were credit risks on multiple bonds. How to avoid “thundering” from the source? Zou Weina believes that in 2018, we must guard against credit risks and take evasive attitudes toward corporate bonds that are small in scale, have a weak shareholder background, or are in a business with a low degree of prosperity.

Zou Weina said that for 7 years of fixed-income products in 2018, interest rates and debts and high-grade credit bonds all have opportunities, but the two types of opportunities are very different. She said: "Holding the interest rate debt needs to withstand loneliness, interest rate bond growth will be greater during the year, but when it is still uncertain. Holding credit debt will not bring much surprises, but there is a very stable vote Interest income, and the volatility will be much smaller than the interest rate debt. In general, both types of opportunities are worth participating in, and the risk of low-grade credit bonds can not be underestimated.”

It is reported that the Yinhua fixed-income team began in 2008. Construction, the current membership of more than 60 people, the average length of service close to 8 years. As of the end of 2017, the total management scale of the team reached 333.9 billion yuan, which is a true industry flagship.





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