The Agricultural Bank of China Convertible Bond Fund (code: 007 106) recently launched by Agricultural Bank of China Huili Fund is a fund that invests in convertible bonds, and the proportion of investment in bond assets is not less than 80%, of which the proportion of investment in convertible bonds is not less than 80% of non-cash fund assets. Convertible bonds have the dual characteristics of "stock" and "debt", and are a kind of investment variety that can be attacked and retreated. In the environment of A-share bull market, the stock nature of convertible bonds is constantly strengthened, and the price follows the price increase of related stocks, maintaining a high correlation; When the A-share market fluctuates or falls, convertible bonds will weaken and become indebted, and the price of convertible bonds will stop falling within a narrow range. Therefore, the Agricultural Bank of China convertible bond fund is more suitable for investors who are unwilling to bear the risk of partial stock funds.