First of all, the primary debt base is mainly investment bonds and does not participate in stock trading in the secondary market, but funds with up to 20% positions can participate in new shares.
Secondly, in addition to investing in bonds, the secondary debt base will also invest in a small number of stocks in order to obtain higher overall returns. Its risk is higher than that of pure debt funds and primary debt base, and of course the expected return is relatively high.
In addition, the convertible bond fund is relatively risky in the debt base, because it allows the convertible bonds it holds to be converted into company stocks and is closely related to the stock market.