2. Lightning risk: Many bond foundations allocate corporate bonds. Once there is a problem with corporate bonds, it means that this bond fund has stepped on thunder. For example, the recent thunder of Xinwei Group attracted six bonds, and the thunder of Kangdexin in the early stage also had a certain impact on bond funds.
3. Liquidity risk: When the central bank's monetary policy tightens and funds flow out, the market liquidity becomes temporarily tense and bonds cannot be exchanged, which will also make bond funds have certain risks.
Therefore, when choosing bond funds, it is best to choose more advanced bonds, such as government bonds, policy bonds, local bonds, etc., with lower risk and higher risk of credit bonds.
Extended data:
The profit source of bond funds mainly comes from the coupon income of fund investment bonds and the difference income of buying and selling bonds. Interest income is the interest income generated by the bonds held by the bond fund itself during the holding period, which is relatively stable.
Before the maturity of bonds, if the market is good, you can get the bid-ask difference by selling bonds, get excess returns, and invest the realized liquidity in bonds to get higher interest.
When the repo rate is lower than the bond coupon rate, arbitrage can be carried out through repo transactions. The specific operation is to pledge the bonds held through repurchase business, and the funds obtained will continue to be invested in the bond market, thus obtaining leverage income.
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