Some fund innovations are pure innovations, and some are innovative holdings, such as SDIC UBS's new power hybrid and SDIC UBS's new opportunity hybrid. Cathay Pacific's flexible allocation hybrid and Cathay Pacific's strong profit are pure innovation funds. Although the expected annualized expected return is low, there is almost no exit and almost no risk. However, is the expected annualized expected return of pure new funds low? That's not necessarily true.
There are many types of funds participating in new shares in the market. Qu Qing, an analyst at Huachuang Securities, pointed out that the active participants in innovation are mainly pure innovation funds and partial debt innovation funds. Simply playing a new fund means that the main purpose of the fund is to play a new role, allocate some high-level short-term financing when idle, and pledge and leverage when playing a new role; A new fund with partial debt means that a fund position is used for the allocation of low-grade medium-and long-term debt, but not all of it can be used for new funds.
In pure new funds, the higher the cash ratio, the higher the expected annualized expected return, but funds generally hold short-term financial management. If we can choose varieties with higher pledge rate, the expected annualized expected income will also be significantly improved. At present, the short-term capital cost is high, and the expected annualized expected return of low-grade credit bonds is relatively low. If you want to get more profits from innovation, it is better to issue pure innovation funds and increase the cash ratio as much as possible.
When buying a new fund, investors can make more choices to see if they are simply playing a new fund before making a purchase.
Introduction reading
2065438+List of Funds Allocated to the New Fund in June 2005
What does it mean to play a new fund? What is a new fund?
What is the expected annualized return of the new fund in 20 15?