What is the absolute expected annualized expected return fund?
Absolute expected annualized expected return refers to ensuring a positive expected annualized expected return level on the basis of locking in risks and controlling the maximum retracement, regardless of market ups and downs. Its performance comparison benchmark is often linked to the expected annualized interest rate of bank time deposits or directly sets a certain historical expected annualized expected return.
Investment techniques that absolutely expect annualized expected returns often include short selling, futures, options, derivatives, arbitrage, leverage and other non-traditional assets.
The misunderstanding of absolute expected annualized expected return fund investment;
First, the absolute expected annualized expected return fund must be a fund with positive expected annualized expected return.
To put it simply, investors often regard it as a major investment goal to obtain a positive and long-term sustainable annualized expected return after risk adjustment, but investment decisions are often made based on an uncertain future.
Second, the absolute expected annualized expected return fund is a fund that invests in the fixed expected annualized expected return.
If the domestic fund product design simply regards investing in the bond market and obtaining fixed positive coupon income as a major selling point of the absolute expected annualized expected income fund, it will lead to conceptual mismatch, or more seriously, conceptual errors.
Investment strategy of absolute expected annualized expected return fund;
1, stock hedging strategy
Using stock bulls supplemented by stock index futures shorts; Mandatory market neutrality; Most of them are based on quantitative stock selection, timing and portfolio optimization models.
2. Basic futures strategy
Implement the traditional (long and short, but not high frequency or CTP) domestic private placement commodity futures investment strategy.
Investment decisions are mainly made according to the supply and demand relationship of industries or commodities and the upstream and downstream economic conditions.
3. Futures trading strategy
Major domestic trading stock index futures and commodity futures; Mainly adopts programmed ordering (such as platform interface such as CTP); Hold or predict the time scale from milliseconds (high frequency) to minutes (intermediate frequency) to days (low frequency); Adopt the ideas of trend tracking, technical form recognition, market maker-like, high-frequency prediction and so on. Mainly depends on market data, a few people will combine fundamentals, but the weight is not big.
4. Bond hedging strategy
Only invest in bonds or treasury bonds futures; Do more and do short; Possible leverage; Subjective or quantitative analysis.
5. event-driven strategy
Based on capital market events such as mergers and acquisitions, tender offer, new share issuance, private placement, high turnover, and executive increase and decrease, the future changes of stock prices are predicted and corresponding positions are established.
6. Arbitrage strategy
The application of no-arbitrage law in various financial markets, such as ETF arbitrage, block trading arbitrage, graded fund arbitrage, convertible bond arbitrage, spot arbitrage, intertemporal arbitrage, cross-species arbitrage and so on.
7. Macro hedging strategy
The asset category is not limited; Can be long and short, and can be highly leveraged; Based on the insight into the macroeconomic system; Always focus on betting. Trading all kinds of futures, options and other derivatives, trading variables are often foreign exchange, bulk commodities and so on.