Last year's double drop must have brought a lot of pressure to many fund investors, so Bian Xiao will tell you how to choose a fund after the interest rate cut.

Following the fifth "interest rate cut" by the central bank in June 5438+ 10 this year, the current market interest rate is almost negative. Financial experts advise not to leave money in the bank account. In the era of negative interest rates, it is also possible to realize the "Qian Shengqian". The key is to choose investment products with mature operation, stable performance and controllable risks as the allocation target. For example, the three-year fixed-term pure debt-based Jinmen Minsheng Plus Bank in the subscription period saw a steady increase in profits. Since its establishment, the annualized rate of return of the fund has exceeded 9%, which is the first choice for long-term stable investment.

Minsheng Canada Bank, as a fixed pure debt fund, has a steady increase in income and strives to achieve a balance between income and liquidity. Closed operation effectively reduces liquidity shock, protects funds from redemption shock, and makes full use of leverage arbitrage to obtain relatively stable coupon income; In terms of liquidity, funds can be listed on the exchange (LOF) or traded on the exchange, which is more flexible. In addition, the dividend frequency is high, and it has been distributed 8 times since its establishment, which makes up for the liquidity problem of regular open funds.

According to the data of Galaxy Securities, as of June 165438+ 10/3, Minsheng Canada Bank has steadily increased its share of A, and the rate of return this year is 10.45%. Since the establishment of 165438+ 10, the net growth rate is 29.5 1%, and the annualized rate of return is 9.02%.

Experts suggest that risk factors are also an aspect that investors need to fully consider when choosing products. Minsheng Canada Bank is a pure debt fund and does not invest in equity products such as convertible bonds, exchangeable bonds and stocks. It mainly invests in urban investment bonds with strong security and high yield among credit bonds, and the income fluctuates stably. At the same time, the fund is escorted by the "Golden Bull" collection team of Minsheng Plus Bank. Yingsheng

How should fund investors choose different fund products under the background of interest rate reduction? The author reviews the performance of different types of fund products in different interest rate adjustment cycles in China since 2003, and finds that all types of fund products have performed well in the context of interest rate reduction, except for the unsatisfactory rate of return of money funds. However, under the same background of raising interest rates, the product performance of the same fund type is quite different. What is the reason?

First of all, the performance of various fund products with the securities market as the investment target is closely related to the overall performance of the stock market. However, the performance of the stock market depends on the amount of funds entering the market. Since 2006 54 38+0 M2 was included in the margin of brokerage clients, the growth rate of M2 can be used as a weather vane for the change of capital entering the market. During the whole period of the author's investigation, the corresponding average values of the above three different periods were 16.97%, 22.73% and 14.75%, which partly explained the difference in the yield of fund products.

Secondly, it takes a long time for the transmission path of interest rate adjustment to be fully reflected. The trend of medium and long-term stock price index is not only influenced by interest rate trend, but also sensitive to economic growth factors and non-market macro-policy factors. If the influence of economic growth and non-market macro-policy factors on the stock market is greater than that of interest rate, the trend of stock price index will deviate from the long-term trend of interest rate. Therefore, it is difficult to generalize the impact of interest rates on the long-term trend of the stock market, and thus the impact on the yield of fund products is different.