Because the investment object of bond fund-bond income is stable and the risk is low, the risk of bond fund is low, but at the same time, because bond is a fixed-income product, the risk of bond fund is low but the income is low compared with stock fund. Bond investment management is not as complicated as stock investment management, so the management fee of bond funds is relatively low. Investment bonds have regular interest returns and promise to repay the principal and interest at maturity, so the income of bond funds is relatively stable. Bond funds mainly pursue relatively fixed income in the current period, and lack appreciation potential compared with equity funds, so they are more suitable for investors who are unwilling to take too many risks and seek stable income in the current period.
Investors can buy bond funds at any time with good liquidity. Investors can redeem at any time according to the net asset value of the fund unit on the day of application, but if investors invest in bank time deposits and certificate-based government bonds, it will be more difficult to realize them, and they will have to bear high interest losses paid in advance. Compared with investors directly investing in bonds, buying bond funds can enjoy many special treatments and get higher returns. For example, it can indirectly enter the bond issuance market and gain more investment opportunities; Can enter the interbank market and hold financial bonds with higher interest rates; You can enter the repurchase market and enjoy the treatment of super institutional investors who purchase new shares by financing and the interest income of risk-free reverse repurchase; The cash assets of the fund are deposited in the custodian bank, enjoying the deposit interest rate of 65,438+0.89%, which is much higher than the deposit interest rate of 0.72% (including interest tax) for residents and enterprises; Enjoy various tax benefits. There is no need to pay stamp duty when purchasing and redeeming, and the dividends obtained can also be exempted from income tax; You can also enjoy the low transaction cost of fund bond investment.
For ordinary bonds, the two basic elements are interest rate sensitivity and credit quality. The rise and fall of bond prices is inversely proportional to the rise and fall of interest rates. The credit of a bond fund depends on the credit rating of the bonds it invests in.