1, investment duration The investment duration of a bond is generally one term, and its yield will change with the change of market interest rate. Generally speaking, the yield of short-term bonds is higher than that of long-term bonds. There are three kinds of short-term bonds, namely short-term bonds and long-term bonds. Long-term bonds are relatively risky, and the longer the term, the higher the risk. Therefore, investors should pay attention to the choice of investment period when choosing bond funds. Generally speaking, the yield of short-term bonds is relatively low.
2. Risk-return ratio In the market, we often see that some bond funds perform well, but they always give people a feeling of instability. Therefore, when choosing a bond fund, we need to consider its security, liquidity and volatility. Risk-return ratio is an important indicator, which reflects how much risk bond funds can bear in the face of decline. The higher the risk-return ratio, the better! This is because the higher the risk, the higher the return. And if the risk-return ratio is low, the debt base may be relatively more "dangerous"!
3. Income expectation and risk-taking ability The income expectation of bond funds is the investment price and expected income of investors, and the investment price is the key to determining whether it can be profitable for a long time. Usually, an excellent bond fund manager will manage the fund in all aspects, such as internal rating and positions. Moreover, the company will allocate assets reasonably according to the industry performance and macroeconomic situation, and score fund managers from liquidity and income forecast.
An excellent fund manager also needs to have a certain risk tolerance and invest within the risk tolerance, including short-term subscription and redemption, which is what we often call leverage. For example, the short-term subscription and redemption of a bond fund is 5%, which has a greater risk of income fluctuation for investors; But if investors hold it for a long time, the risk-return ratio is 1+ 1.05=3.03. It can be seen that when allocating the proportion in the bond market, we should pay attention to the gap between the income expectation and risk-taking ability of different types of bonds.
4. The scale of the fund is a measure of the strength of the fund. Different stock funds and hybrid funds have different scales, but the overall scale must be within a reasonable range. Equity funds: Generally speaking, the larger the scale of equity bond funds, the greater the fluctuation of the net value under management. Bond funds will have different performances in different markets, different periods and different time environments, so the performance in each stage is different. In order to make investors have a better investment experience, they can choose bond funds of different sizes according to their actual situation.
5. Proportional bond funds of institutional investors are divided into ordinary bonds, convertible bonds and debt-to-equity swaps. Ordinary bond funds belong to the first-class debt base; Pure debt bond fund belongs to secondary debt base; Convertible bond funds belong to classified debts; Convertible bond funds are exponential. According to the regulations, if the proportion of ordinary debt base is higher than 40%, you must buy other funds with partial debt, otherwise it will be "inferior". Therefore, institutional investors account for more than 40%, and such companies are often "small and beautiful" products.