"The lower the position, the higher the expected annualized expected return of participating in the new hybrid fund," said a Public Offering of Fund person. "The position determines the probability of successful subscription, but it is necessary to find a smaller hybrid fund so that the expected annualized expected income will not be diluted." The source said that due to the bottom position requirement of the lower limit of stock position, the impact of the new expected annualized expected return on the net value of stock funds is relatively limited; Bond funds are restricted by the new regulations and no longer participate in offline placement; So the hybrid fund is a good choice.
Then, how do we recognize and allocate the hybrid funds in many types of segmentation?
According to this subdivision, we divide hybrid funds into four basic types:
One: partial stock hybrid fund. As the name implies, this kind of hybrid fund takes stocks as the main investment direction, and they, like the front waist of the team, bear the function of assisting the attack. Judging from the upper limit of stock investment, such funds can be divided into partial stock funds with upper limits of 95% and 80% respectively. The former can directly act as a "shadow striker" when the stock market is good.
Two: flexible allocation of funds. This is a fund with a large proportion of flexible allocation between stocks and bonds. From the upper limit of stock investment, it can be divided into 80% and 95% flexible allocation funds. Generally speaking, the greater the range of stock investment ratio, the higher the investment flexibility of the fund. Specifically, the stock investment scope of domestic flexible allocation funds includes 30%-80%, 0%-95%, 30%-95% and 40%-95%, among which the flexible allocation fund with the stock investment ratio of 0%-95% has the highest flexibility and is called "total football". Take the products of Orient Fund as an example. The investment range of small and medium-sized stocks in Oriental Growth is 30%-80%, and the investment range of Dongfang Long, Dongfang Liqun and Dongfang Multi-strategy stocks is 0%-95%, which shows more flexible characteristics in the investment process.
Three. Equity debt balance fund. This kind of fund does not take a certain kind of assets as the main investment direction, and the investment in stocks and bonds is relatively balanced, aiming at pursuing long-term stable expected annualized expected returns by constructing a dynamic balanced combination of stocks and bonds.
Four: partial debt hybrid fund. Generally speaking, the upper limit of the stock investment ratio of such funds does not exceed 50%. They mainly invest in assets such as bonds with fixed expected annualized expected returns, just as the "low back" players in the team mainly assume the function of assisting defense.
According to the above configuration ideas, investors can pay attention to the products of fund companies with relatively excellent investment management ability when screening products. Take the Eastern Fund as an example. According to the data of Galaxy Securities Fund Research Center, as of June 6, Dongfang Long, Dongfang Select, Dongfang Growth Small and Medium-sized, and Dongfang Liqun all ranked in the top 1/2 echelon of similar funds.