Since the beginning of 2023, the global bond market and equity market have fluctuated, and the yields of bonds and money funds have declined one after another, thus affecting the net withdrawal of low-risk wealth management products and fund products.
Will low-risk products not lose money? In fact, once low-risk fund products encounter credit risk, bond market bear market and other factors, it will also lead to a sharp withdrawal of low-risk fund products.
We found that the largest medium-and low-risk fund in history withdrew at a high speed. The most typical default year of this bond is 20 16. At that time, various factors caused tight liquidity, frequent inter-agency bond defaults, rapid decline in the bond market, and the default rate of the bond market reached the highest level in history of 0.9%. Affected by this, the yield of 10-year government bonds endorsed by the state rose rapidly, and remained at 2.7% at the end of 10. In just one month, it broke through the previous high point and quickly rose to nearly 3.4%.
By 2020, the stock market will go up rapidly, and there will be a diversion effect of funds, and the bond market will be short of funds, which has undergone continuous adjustment for half a year.
If you count the pure debt funds in 20 16 and 2020, you will find that in fact, low-and medium-risk products will not only have a retracement, but also the retracement range is far greater than everyone's imagination. Excluding medium-risk varieties such as convertible bonds, in 20 16 years, the withdrawal rate of 47.95% pure debt products exceeded 2%; In 2020, 40% of pure debt products will have a refund of more than 2%.
These retracement data have sounded the alarm for investors, even if they invest in low-risk and low-yield pure debt products, they can't escape market fluctuations. However, investment in high-risk products such as convertible bonds and stocks has been withdrawn.
Since the beginning of this year, affected by the Russian-Ukrainian war and the Federal Reserve's interest rate hike, the stock market has also fallen sharply. In the volatile market, the "retracement rate" has replaced the original "return rate" and become the most concerned index for investors. Wind's data shows that from the beginning of this year to March 29th, the 300-year retracement of Shanghai and Shenzhen stock markets reached 16.32%, and the growth enterprise market index fell by 2 1.97%.
Among all the fixed-income products, we find that the overall performance of Penghua Zhao Hua's hybrid fund (fund code A: 009822c: 009823) still exceeds the index and benchmark performance in the same period. Especially in the control of retracement rate, Penghua Zhao Hua has retraced 1.82% since 2023, and the index of partial debt hybrid funds has retraced 4.5 1% in the same period, and the benchmark of performance has retreated 6. 10%, ranking the top 3 of its kind (* * * 42 similar products). The fund has shown good stability since August 2020. Since its establishment, the annualized Sharp ratio is 2.04, ranking 3/42 among its kind.
At the same time, from the beginning of the year to March 29th, nearly 1,000 partial debt hybrid funds in the whole market 1 138 withdrew more than 2%, accounting for more than 84%. Judging from the single withdrawal control, Penghua Zhao Hua has surpassed most similar products. In fact, the rate of Penghua Zhao Hua 1.82% is not only among the best in similar products, but even better than the exit rate of some low-risk pure debt products.
As a fund category with both stocks and bonds, fixed-income products test the investment and research capabilities and operational management capabilities of the fund management team. In this year, when the overall market fluctuates greatly, it is rare for the management team of Penghua Zhao Hua to have such hard-core retracement control ability.
Related Q&A: Is the medium and high-risk foundation wiped out? Generally speaking, medium and high-risk funds may lose money, but they will not lose all their money for the following reasons:
1, only when the net value is 0, will all losses occur, and the net value of the fund will not appear as 0. When the net value reaches the contract conversion conditions, it is converted into shares, and the net value returns to 1 yuan. In this way, the fund can continue to operate, so there is no loss.
2. For example, if an investor buys a fund with a net value of 1 1,000 yuan in 3 yuan at a high level, and the net value drops to 0.5 yuan one year later, the fund assets are still 1 1,000 * 0.5 = 500 yuan (excluding the handling fee), which is not a loss.
3. When the net asset value of the fund is less than 50 million yuan for 60 consecutive days, or the number of fund share holders is less than 200 for 60 consecutive days, liquidation will be conducted, and there will still be a sum of money after liquidation.
4. The fund also has a stop loss line. If the target of the fund manager's investment falls sharply, it will stop the loss in time to reduce the loss of investors.
Fund is an asset management method of collective plan. After the purchase, investors "enjoy the benefits and take risks". Generally speaking, the risk is smaller than that of stocks and futures, and you won't lose all.
Related questions and answers: Is there a risk in low-risk financial management? Strictly speaking, all bank wealth management products are risky. The popular saying is that your principal may be lost. Unlike time deposits, when you deposit money, it is clearly printed on the receipt or passbook. What is the interest rate? If it expires for a long time, the bank will pay unconditionally when it expires. Therefore, there is a saying that financial management is risky and investment needs to be cautious.
The wealth management products sold by banks are generally issued by banks themselves or wealth management subsidiaries. In order to meet the requirements of regulatory agencies, the risk levels of wealth management products are classified. Generally speaking, from 1 level to level 5, which are PR 1, PR2, PR3, PR4 and PR5 respectively, the risk gradually increases from 1 level to level 5. The risk level of wealth management products corresponding to the medium and low risk level is PR 1 to PR3.
From my experience in working for so many years, under normal circumstances, no matter which bank you go to buy wealth management, the bank will ask you to make a risk assessment first, that is, to see your risk preference, so you must choose according to your own reality. After your risk level results come out, you can basically only buy the corresponding level of wealth management products.
I hope this explanation will help you.
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