Seeing this, some people may ask, why haven't I heard of convertible bonds?
In fact, convertible bonds are bonds that can be converted into stocks, so convertible bonds have the characteristics of both bonds and stocks.
From the domestic and foreign markets, convertible bonds are not a mainstream investment product. It is not surprising that investors who don't know much about the stock market don't know that there is a "convertible bond".
Take A shares as an example. Up to now, the convertible bonds are only 1 12 (excluding exchangeable bonds). This is nothing compared with 3500 shares; Compared with more than 5,000 Public Offering of Fund, it is unparalleled.
But this does not hinder its current investment value. If you don't believe me, Sansijun speaks with the historical data of convertible bonds.
Wind data shows that after excluding four convertible bonds listed before 2000, a total of 1 12 convertible bonds were delisted from the exchange.
These 1 12 delisted convertible bonds have the lowest price during their existence:
(Remarks: from 2000 to the end of 20 18)
As can be seen from the above figure, during the existence of these 1 12 delisting convertible bonds, the proportion of their prices below 100 yuan is 45%. In other words, more than 50% of convertible bonds will not be less than the face value of convertible bonds 100 yuan.
The maximum prices of these 130 delisted convertible bonds during their existence are as follows:
(Remarks: from 2000 to the end of 20 18)
As can be seen from the above figure, the convertible bonds of 130 basically rose above 130 yuan. Even the prices of some convertible bonds have risen above 400 yuan.
Talking about the past of convertible bonds is to better describe the current convertible bond market.
According to the latest data, there are currently 1 12 convertible bonds (neither more nor less, just the same as the number of convertible bonds that have been delisted), and the price of 63 convertible bonds is lower than 100 yuan.
According to the above historical data, it is obvious that the current convertible bonds are at a historical low. So this is a very important reason why San Sijun pays attention to convertible bond funds.
Since convertible bond funds are so good, what convertible bond funds are worthy of attention at present?
Before introducing the specific convertible bond fund, let me talk about the risk points first. At present, the overall scale of such funds is small. After all, it is a niche market. If you haven't studied the stock market, you may not have heard of convertible bond funds.
Some people may say, isn't there a Xingquan convertible bond hybrid fund (34000 1)? The latest quarterly report of 20 18 shows that the scale of this fund is over 3 billion.
But what Sansijun wants to say is that this fund is a hybrid fund, which may not be pure compared with the fund that mainly invests in convertible bonds.
Therefore, apart from those too small funds, there are not many convertible bond funds that really deserve attention.
The following picture shows a convertible bond fund with a fund size of over 654.38 billion.
If you are interested in convertible bond funds, you may wish to choose from these funds.
I hope it will help everyone's investment.