In the pricing of these two properties, there is an adjustment clause, that is, the stock fund should choose the bond yield, market quotation and market price at each stock trading time to re-evaluate the company valuation target owned by the stock fund. When there is a big deviation between the re-evaluated total net assets of the stock fund and the total net assets of the stock fund calculated by the amortized cost method, it is necessary to make relevant adjustments so that the total net assets of the stock fund can better reflect the use value of the stock fund property in book value. When this deviation occurs, the risk degree of the two is different. Bond funds are more sensitive to short-term changes in bond yields than money funds, that is, short-term fluctuations will be more significant.
Judging from the value of income indicators, the money fund shows "7-day annualized rate of return", which is more suitable for assets with a 7-day application cycle. Bond funds are mostly short-term assets, and the application cycle time is more than one quarter.
The two basic prerequisites for a project to invest in a bond fund are the sensitive level of annual interest rate and personal credit status. The decline of bond prices is inversely proportional to the annual interest rate elevator, the annual interest rate rises and the bond price falls. The sensitivity of the bond price change and the total net assets of the bond fund to the annual interest rate change is taken as the index value. The longer the duration, the greater the change of the total net assets of bond funds on loan interest.
There are similarities and differences between bond funds and loan money, and the key lies in the rate of return and risk.
How to fully grasp the information content of bond funds?
There are many bond funds in the sales market. Bond funds, like money funds, are exempt from subscription and redemption rates, and fund redemption money can be collected on T/KLOC-0 and/or T2. The term of bond fund investment in bonds is generally controlled within three years, which greatly exceeds the investment period of the money fund, and is also called "enhanced money fund".
Investors can grasp the information content of bond funds from the following aspects: (1) restrictions on the credit rating of investment bonds in the prospectus for raising and using stock funds; Description of the credit rating of bonds held in the asset allocation report of equity funds. In addition, investors must also master the investment ratio of convertible bonds and their stocks in their projects. For example, equity funds have more convertible bonds, which can improve profitability. In particular, centralized stock funds with a lot of reprints will have a much higher yield than the bond market, but it will also increase operational risks.
If you are prepared to put more than a quarter of your assets, why not invest in short-and medium-term debt funds and enjoy higher returns; However, if there is an urgent need during the period, it is better to buy a money fund in case the short-and medium-term debt base is redeemed when the net value is low. 698. How to cultivate long-term habits by buying funds?
Investing in funds is a bad habit. As a result, the transaction fee for equity funds is 2%. If you can't buy at the lowest price or sell at the highest price, the 2% redemption fee will dilute your deposit period in the past year, and ultimately endanger the completion of your overall profit target. In addition, constantly adjusting the asset allocation of their own stock funds is also the key reason for the reliability of investment funds.
The pursuit of perfect and steady management methods seems to be a matter for fund customers, which has little to do with ordinary investors, but it is not. Ordinary investors should also pursue a perfect and stable stock market. Because in the big bull market, there are great opportunities and opportunities to increase the types of stocks owned by equity funds; However, with the expansion of stock risk, the net value of stock funds will be hurt in both volatile market and bear market. Even if fund clients have strong management tools and the ability to operate stock funds, it is difficult to obtain the average profit in the sales market, which is the systematic risk of stock funds. Therefore, "stability is paramount" is also the key in the stock market.
It is the wish of every investor to buy equity funds whose net value can continue to grow. But not every investor can realize the factors that endanger the reliability of stock funds. In the whole process of project investment, there is often a situation of looking ahead and looking back. Therefore, the factors that endanger the reliability of stock funds can not be ignored, especially my subconscious factors, and we should pay more attention to them.