Diversified investment, also known as portfolio investment, can reduce risks without reducing returns. This also means that we can improve the risk-return ratio by diversifying our investments. Bian Xiao compiled the correctness of your "diversified investment" here for your reference. I hope everyone will gain something in the reading process!

Two days ago, someone said that they knew the truth that "you can't put your eggs in the same basket", so they insisted on diversifying their investments and bought a fund of 13 at one go. It is found that three of his positions are only money funds, three bond funds and the remaining seven are only stock funds. The cargo base and debt base are temporarily not listed, and holding seven equity funds sounds scattered enough. However, when I opened the heavy stocks of these seven funds, I found that 97% of the stocks were duplicates. In other words, these seven funds are similar to 1, and the number is scattered, but the risks are not scattered, let alone asset allocation.

How much money is appropriate to hold?

So how much money is appropriate to hold? How to configure it to play the role of "spreading risks"?

On this issue, Morningstar, a well-known fund rating agency, once conducted an investment experiment:

The number of funds ranges from 1 to 30, and the fluctuation degree of fund performance of each combination in five years is calculated respectively.

The results show that only 1 fund has the largest portfolio volatility, and each additional fund can obviously improve the volatility, but when the portfolio is increased to 7 funds, the volatility is not necessarily related to the increase of funds.

In other words, Morningstar thinks seven funds are more suitable.

Another fund research center said that 5- 10 is only the appropriate allocation quantity.

At present, there is no uniform standard about the optimal number of positions.

By comparing the fund portfolios of various markets, Bian Xiao thinks that it is more appropriate to control them within 10. Of course, if you have the energy and ability, you can add more.

How to allocate funds in the portfolio?

In view of the number of funds, what kind of funds can be allocated in the portfolio to spread risks and avoid repeating the mistakes of Yang Yang?

In the past, we said that stocks, bonds and cash assets have low correlation and are more suitable for portfolio allocation.

So today we will talk about it from the perspective of fund types.

0 1 money fund and bond fund

First of all, money funds and bond funds suggest holding 2-3. These funds have low volatility and are mainly used as fixed-income assets in the portfolio.

Money funds mainly invest in time deposits and bank deposit certificates, while pure debt funds are not as diverse as partial stock funds.

For the same type of fund, the difference in income may not exceed 1%~2% annualized, so there is no need for excessive diversification.

Just choose two or three ones that have been established for a long time and rank in the top 1/4 in the medium and long term.

02 partial stock funds

Next, let's look at partial stock funds.

Stock funds and hybrid funds in the market can be roughly divided into two categories:

One is a fund that invests in the whole industry and has no clear investment scope restrictions; One is a fund with a clear industry theme or style.

Know the "core-satellite" strategy?

Core assets, as the name implies, are the core and the most important part, and play a decisive role in the security and income of the portfolio, accounting for a relatively large proportion.

Usually, we choose to invest in funds in the whole industry, of which 2 or 3 will only be held for a long time.

Passive funds can choose ETFs that track broad-based indices, such as CSI 300 and CSI 500.

The criteria for active fund selection are that the fund manager has invested for a long time, experienced the market environment of bull-bear conversion, and ranked the top in long-term performance 1/4.

The performance of such funds may not be outstanding in the short term, but they must be excellent and sustainable in the long run.

Satellite assets are investment in some industry-specific theme funds, such as securities, banking and information sectors, as well as some funds with obvious style characteristics, such as growth and value style.

At this stage, the A-share market is dominated by structural market, and the performance of each sector has a certain degree of rotation, and a sector may be extremely strong in a certain period of time.

Holding such funds can more actively strive for excess returns.

However, it should be noted that the volatility of such funds is relatively large. Therefore, it is suggested that the allocation ratio in the overall fund portfolio should not be too high, and it is best to control it within 30%, which is also 2 to 3.

03QDII fund

Finally, the 1-2 QDII fund can be properly invested.

Such funds invest in overseas markets, covering overseas stocks, bonds, real estate, crude oil and other products, and their performance is not directly affected by A shares. For example, in 20 16, the Shanghai and Shenzhen 300 Index fell by 1 1%, while the S&P 500 Index in the United States rose by 9.54% and the Hang Seng Index in Hong Kong rose by 0.3%.

To sum up, the number of funds held is not as large as possible. Generally, it can be controlled within 10, and it can be increased or decreased appropriately, but don't be greedy.

In addition, when allocating the fund portfolio, goods-based debt-based, stock-based funds and QDII funds are all suitable for portfolio investment. As for the proportion of positions held by various funds, it depends on the individual's investment objectives.

Tip:

First, we should pay attention to arranging the proportion of fund varieties according to our own risk tolerance and investment purpose. Choose the fund that suits you best, and set an investment ceiling when buying partial stock funds.

Second, be careful not to buy the wrong "fund". The popularity of funds has led to some fake and shoddy products "fishing in troubled waters", so we should pay attention to identification.

Third, pay attention to the post-maintenance of your account. Although the fund is worry-free, it should not be left unattended. Always pay attention to the new announcements on the fund website, so as to have a more comprehensive and timely understanding of the funds you hold.

Fourth, pay attention to buying funds, and don't care too much about the net value of funds. In fact, the fund's income is only related to the net growth rate. As long as the fund's net growth rate stays ahead, the income will naturally be high.

Fifth, we should be careful not to "love the new and hate the old" or blindly pursue new funds. Although the new fund has inherent advantages such as preferential prices, the old fund has long-term operating experience and reasonable positions, which is more worthy of attention and investment.

Sixth, we should be careful not to buy dividend funds unilaterally. Fund dividend is the return of investors' previous income, so it is more reasonable to change the dividend method to "dividend reinvestment" as far as possible.

Seventh, we should pay attention not to talk about heroes in the short term. It is obviously unscientific to judge the pros and cons of the fund by short-term ups and downs, and it is necessary to make a comprehensive evaluation of the fund in many aspects and conduct a long-term investigation.

Eighth, we should pay attention to the flexible choice of investment strategies such as steady and worry-free fixed investment and affordable and simple dividend transfer.

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