Second, the increase of market uncertainty increases the option value of convertible bonds;
Third, the relatively low index and the increase in investment in convertible bonds by QFII and insurance companies have further locked in the downside risks of convertible bonds;
Fourth, the persistent downturn in the market and the constant revision of convertible bond prices have enhanced the aggression of the rebound or reversal of convertible bonds in the market.
At present, the stock nature of the whole convertible bond market is strengthening, and the debt nature is also very prominent. Its advantage is that when there is misjudgment in the market, the cost of error correction is extremely low; Once the stock market rebounds, the convertible bond market can also enjoy the same benefits.
Extended data:
Investment strategy of convertible bond fund;
1. Keep high positions, select varieties and hold centralized positions.
Due to the limited risk and unlimited income in theory, convertible bonds are particularly suitable for holding excellent varieties in heavy positions. The first half of 2005 also proved the effectiveness of this operation idea.
2. The valuation of basic stocks is based on full circulation.
In stock investment, based on full circulation, we should increase the research on "consideration" and make use of the investment opportunities brought by the uncertainty of A shares to create good returns.
3. Increase the position ratio of convertible bonds of strong stocks, and balance profitability and security by using market fluctuations.
In the period of market downturn, we should increase the positions of convertible bonds with strong stocks, improve the stocks of convertible bonds by possible conversion price adjustment, optimize the positions of convertible bonds, and balance the profitability and security of convertible bonds.
Baidu Encyclopedia-Convertible Bond Fund