Today, Bian Xiao will take you to learn how to avoid exchange rate risks in the new year.

Make good use of all kinds of unique weapons for investment

QDII products managed by Wu Xiangjun are outstanding. WIND data shows that as of June 30th, 10, among the top ten products with yield this year, Wu Xiangjun's products occupy two seats, Cathay Pacific's Nasdaq 100 ranks first, Cathay Pacific's overseas high-yield ranks ninth, and another product he manages, Cathay Pacific's American real estate ranks 14th.

Wu Xiangjun introduced the uniqueness of the global absolute income of Cathay Pacific issued this time:

The Fund does not directly purchase overseas stocks or bonds, but invests in overseas publicly issued absolute return funds, that is, funds that hold absolute returns in their names, or funds that pursue value-added while minimizing risks for the purpose of obtaining long-term positive returns.

The reason for issuing such a special product is that the recent expectation of RMB depreciation has greatly increased the attractiveness of overseas investment. Many customers have dollar investment needs, but they suffer from few channels. The risk of absolute income fund is relatively low, the income can generally exceed that of bonds, and the volatility is relatively small. In the future, we will try our best to control the volatility of our products below 5% to make them more suitable for the needs of low-risk preference customers.

In addition, after the stock market began to fluctuate greatly in June, the absolute return fund with quantitative hedging strategy was recognized by investors for its good anti-volatility. However, due to the government's efforts to stabilize the market and strengthen supervision, many hedging tools released in the past can no longer be used. This also makes domestic hedge funds lack effective hedging tools and cannot realize the fund's strategy.

However, the investment direction of Cathay Pacific's global absolute income is overseas funds. Although there are similar strategies with some domestic hedging products, overseas financial markets are more mature and the number of financial instruments far exceeds that of domestic ones, so the strategies and means of this fund are much richer than those of similar domestic products. More weapons will also help to better implement the strategy and tactics of fund managers.

It is worth noting that the investment scope of this new fund will include global markets such as Europe and Asia in addition to the US market. However, these assets are denominated in US dollars, and the currency risk has been completely hedged, so investors do not have to worry about taking on additional exchange rate risks.

The direction of money is confusing.

In recent years, the monetary policies of major economies in the world have been introduced frequently, which has constantly stirred up criss-crossing ripples in the global capital market.

Bank of China cut interest rates for the sixth time in1October 23rd 10 years after1took the initiative to depreciate sharply in August; 10 year 10 On October 28th, the Federal Reserve announced that it would keep interest rates unchanged and said it would raise interest rates in February 10. At the same time, the European Central Bank plans to expand quantitative easing in June 5438+February; On the other hand, the Bank of Japan has repeatedly increased unprecedented monetary easing.

Reflected in the money market, it shows that the US dollar continues to strengthen against other major currencies: since April last year, the US dollar has appreciated by more than 20% against the euro; The dollar rose against the yen for three consecutive years, with a cumulative increase of 55%. The appreciation channel of RMB against the US dollar has ended for many years, and it has depreciated by about 5% since June 65438+ 10 last year.

For domestic investors, the future of the stock market is uncertain; Under the effect of lowering the basic interest rate, the yield of fixed-income products continues to fall, and the negative interest rate approaches; Now the exchange rate risk is coming, just like looking at flowers in the fog, clearing your mind.

Experts help you see the trend of exchange rate.

Cathay pacific fund recently issued the first QDII absolute income public offering FOF- Guotai Global Absolute Income Fund, and the reporter interviewed Wu Xiangjun, the fund manager of the fund. Relying on years of overseas investment experience, Wu Xiangjun explained the recent complicated market and told reporters the original design intention of the new product.

According to the data, Wu Xiangjun, American nationality, master's degree, 1 1 year securities fund experience. Before joining cathay pacific fund in May 2008, he worked as a senior analyst at SecurityGlobalInvestors. Now, in addition to the four product managers of Guotai QDII, she is also the head of international business. He has rich overseas market investment experience and keen judgment on the international economic situation. On the performance and monetary policy of the world's major economies, Wu Xiangjun said:

I think the appreciation of the US dollar against the RMB will last for quite a long time. The reason is that, according to the market economy theory, when the national economy is strong, the currency will generally appreciate, and when the economy slows down, the currency will depreciate. At present, China's economic growth rate is slowing down, while the American economy stands out in the world. The dollar is also appreciating against other major currencies, including the Australian dollar, the euro and the Japanese yen, because the economies of Europe and Japan are also relatively weak. Now that Europe is still carrying out quantitative easing, the euro will depreciate.

A few years ago, when China's economy was growing at a high speed, China's central bank kept raising interest rates and the RMB appreciated against the US dollar. The RMB is cutting interest rates. Under normal circumstances, the RMB will depreciate and it will take a long time. The strong expectation of the Fed's interest rate hike also contributed to the appreciation of the dollar. For various reasons, I think the trend of RMB in the next few years should be weak.

I believe that through the above study, you must know something about this knowledge point. I hope you know more about this knowledge, so that you can sum it up like a duck to water in the market.

Statement: Futures information comes from cooperative media and institutions, and is the author's personal opinion, which is for investors' reference only and does not constitute investment advice. Investors operate accordingly at their own risk.