Nan Baoyuan: Excellent performance for a long time.
Southern Baoyuan is the earliest partial debt hybrid fund established. The fund mainly invests in bonds, with the proportion between 45% and 95%, and the stock investment can fluctuate between 0% and 35%.
From the actual investment point of view, Nanbaoyuan basically keeps the stock position between 25% and 30%. After 2006, the proportion of stock investment will basically remain at the upper limit of around 35%.
In the bond investment part, Nanfang Baoyuan mainly invests in central bank bills, and the allocation ratio generally accounts for more than 60% of the bond investment part; Secondly, it mainly invests in financial bonds, and the allocation ratio is generally around 30%. The investment ratio of national debt and convertible bonds is very low, indicating that Southern Baoyuan is mainly based on liquidity and stable income.
In the part of stock investment, South Baoyuan has a sound investment idea and mainly chooses second-tier blue-chip stocks with excellent performance. The stock portfolio maintains a high stability, and the industry allocation and individual stock selection maintain a high degree of fit with the market. The stock investment part is expected to be stable, which makes the medium and long-term income expectation of Southern Baoyuan stable.
Southern Baoyuan's high proportion of stock investment makes Southern Baoyuan expect higher returns in the partial debt fund, but it also makes the risk of Southern Baoyuan slightly greater than that of similar funds. On the whole, as a partial debt fund to balance portfolio risks, Southern Baoyuan is worth holding.
Ronghua bond: the stock ratio is close to the allocation fund.
Ronghua Bond is the second hybrid fund with partial debt. Compared with South Baoyuan, the characteristics of this fund are more biased towards allocation funds.
Ronghua Bond has further relaxed the restrictions on the proportion of stock investment, and since the second half of 2005, Ronghua Bond has basically raised the proportion of stock investment to the upper limit of about 40%, reflecting that the Fund has successfully grasped the stock market trend.
In the part of bond investment, Ronghua Bond shows a relatively positive investment preference in the partial debt fund. The fund mainly invests in treasury bonds and financial bonds, each accounting for 30%~40% of bond investment. At the same time, it also focuses on convertible bonds, with an investment ratio of about 65,438+05%, and less investment in short-term liquidity varieties of central bank bills.
In the part of stock investment, Ronghua Bond also showed a relatively positive investment style. Mainly invest in large-cap stocks, while allocating a considerable proportion of mid-cap stocks. The idea of stock selection basically belongs to the mainstream, but the relatively scattered combination has not improved the overall investment effect.
The fund manager of Ronghua Bond is mainly responsible for stock investment, from which we can also see his investment tendency. Although the performance is not outstanding from the perspective of stock investment, the ratio of stock to debt of 4: 6 makes Ronghua Bond a better investment product with medium income expectation and low risk. Recently, the fund has shown good resilience.
Galaxy income: stock investment is highly active.
According to the product contract of Galaxy Income, under normal circumstances, the bond investment ratio ranges from 50% to 95% of the fund's net asset value; The proportion of stock investment is 0-30% of the fund's net asset value; Cash accounts for 5% to 20% of the fund's net asset value.
Judging from the actual investment, the income of Galaxy is slightly conservative relative to the floating range of its investment ratio, and the stock investment ratio does not exceed 20% for a long time.
In the bond investment part, Galaxy's income is mainly invested in central bank bills and financial bonds, showing a strong liquidity management tendency.
In the part of stock investment, Galaxy Income shows a very positive investment style. Mainly invest in small and medium-sized stocks, and quickly switch stock portfolios with the changes of market hotspots. Judging from the investment effect, this flexible style is more effective for tracking market hotspots because of the small assets of the stock investment part of Galaxy Income. Therefore, although the proportion of stock investment is not high, its contribution to fund income is obvious. Especially from the recent performance of the fund, the investment in small and medium-sized stocks has made a great contribution to the fund in the near future.
Generally speaking, Galaxy's income has distinct characteristics in bond and stock investment, with conservative bond investment and radical stock investment. On the whole, Galaxy Income is a better choice for conservative investors.
2. The investment proportion and risk degree of bond, stock, mixed, monetary and balanced funds are different. Monetary funds have the lowest risk and low income, while equity funds have the highest risk and highest income. Bond-type hybrid balanced fund is in the middle, which is essentially the object of investment. Every fund company has monetary funds, and there is no handling fee for subscription, subscription and redemption.