1. Dynamic balance fund of income and risk level from February 4, 2003 to May 3, 2004 1, with a return rate of 9.20% and a dividend of 0.02 yuan per time. During the same period, the Shanghai Composite Index rose by 7.67%. From February 30, 2003 to May 30, 2004, the return rate of Guangfa Jufu was 2.33%, and the dividend was 1 time, with a dividend of 0.04 yuan each time. During the same period, the Shanghai Composite Index rose by 3.97%. By allocating high-risk stock assets and low-risk bond assets, balanced funds can obtain higher returns with medium and low risks, and their return-risk ratio is higher than that of stock funds and bond funds. According to the research data released by American Morningstar Company, in the past ten years, the returns of different types of funds in the American fund market were 8.97% for equity funds, 7.44% for balanced funds and 5.92% for bond funds, and the standard deviations of the three types of funds in recent three years were 22.4, 65,438+00.25 and 4.7 respectively. This shows that balanced funds can effectively reduce investment risks and take into account the advantages of growth opportunities. Balanced funds are suitable for relatively stable investors, and obtain stable income under the condition of effectively controlling risks.
2. Asset allocation From the perspective of industry, Guangfa Jufu has a large proportion of positions in petroleum, chemical, plastics, electronics, transportation and warehousing industries, reaching 15.27%, 5.60% and 14.78%. Compared with the dynamic balance fund, the concentration of industry investment is basically the same, and the concentration of stock investment is about 8 percentage points higher. In terms of awkward stocks, Guangfa Jufu held the highest proportion of Shanghai Airport in the first quarter of this year, with a market value of about 654.38+86 billion yuan, accounting for 7.22% of the net value. It also holds a large number of shares in Yangzi Petrochemical, yantai wanhua and COSCO Shipping. The dynamic balance fund holds the highest proportion of China Petrochemical, with a market value of about 65,438+0,336,5438+0,365,438+0,000 yuan, accounting for 3.56% of the net value. The Shanghai Composite Index peaked from April 7th to May 3rd1,with a cumulative decline of 12.46%. The varieties held by the fund in heavy positions are also facing the fate of adjustment. The scale of the two funds, asset allocation, the proportion distribution of industry investment, the choice of individual stocks and other * * * factors work together, resulting in different declines during the market adjustment.
The biggest feature of the stock-debt balance fund is that it can dynamically adjust the asset allocation. When the stock market is in a bull market, it can flexibly increase the investment ratio of its stocks and reduce the holding ratio of conservative investment tools such as bonds; When the risk in the stock market increases, the holding ratio of stocks can be reduced and the investment ratio of conservative investment tools such as bonds can be increased. The shareholding ratio of general balanced funds can be adjusted between 30% and 70%, while the shareholding ratio of general equity funds is limited between 70% and 95%. Therefore, when the stock market bulls are established, equity funds can indeed bring relatively rich returns to investors; However, when the market is uncertain or weak, the shareholding adjustment of the stock-debt balance fund is relatively flexible.