Medium and high-grade debt is a kind of bond fund. According to WIND's statistics, as of June 365438+1October 3 1, 2065438,373 bond funds (A/B/C share is counted separately), only 6 bond funds take medium and high-grade credit bonds as their main investment targets or are included in their investment scope.

Bonds are creditor's rights and debt certificates issued to investors when the government, financial institutions and industrial and commercial enterprises directly borrow money from the society to raise funds, and promise to pay interest at a certain interest rate and repay the principal according to the agreed conditions. The essence of bonds is the proof of debts.

There is a creditor-debtor relationship between bond buyers and issuers. The issuer is the debtor and the investor (bondholder) is the creditor.

Bond funds, also known as bond funds, refer to funds that specialize in investing in bonds. By concentrating the funds of many investors, we can make portfolio investment in bonds and seek relatively stable returns. According to the classification standard of China Securities Regulatory Commission, bond funds refer to funds with more than 80% of fund assets invested in bonds.

Bond funds can also put a small amount of money into the stock market. In addition, investing in convertible bonds and issuing new shares are also important channels for bond funds to obtain income.

Compared with stocks and bonds, funds have the following differences:

Investors have different status. Shareholders are shareholders of the company and have the right to express their opinions on major decisions of the company; The bondholder is the creditor of the bond issuer and has the right to recover the due principal and interest; The fund unit holder is the beneficiary of the fund, which reflects the trust relationship.

The degree of risk is different. Generally speaking, the risk of stocks is greater than that of funds. For small and medium-sized investors, due to the limitation of the total amount of disposable assets, they can only directly invest in a few stocks, which violates the investment taboo of "putting all the eggs in one basket". When the stock they invest in falls due to the stock market or the financial situation of the enterprise deteriorates, their capital may be wiped out; The basic principle of the fund is portfolio investment, risk diversification, and investment in securities with different maturities and types in different proportions to minimize risks.

Under normal circumstances, the principal of the bond is guaranteed, the income is relatively fixed, and the risk is smaller than that of the fund.

The income is different. The returns of funds and stocks are uncertain, while the returns of bonds are certain. In general, the fund's income is higher than that of bonds.