How to buy Y shares of pension target funds? -Qianlong.com China Capital Net

Recently, with the official launch of Y shares of the first batch of pension target funds, people are paying more and more attention to this type of fund. In fact, pension target funds have experienced more than four years of development in my country, and have achieved remarkable results.

Data shows that since the establishment of my country’s first pension target fund on September 13, 2018, as of the third quarter of 2022, a total of 187 pension target funds have been established in my country. (Data source: Wind, as of 2022/09/30)

From the perspective of historical performance, comparing the average net value of Pension FOF and the trend of the Wind Hybrid Bond Secondary Fund Index (hereinafter referred to as the “Secondary Bond Index”) since 2019, it can be seen intuitively that since May 2019, pension funds have The yield of FOF is significantly higher than that of the secondary bond base index. As an alternative financial product that also pays attention to the experience of holders, the income level of pension FOF is relatively considerable.

(The average net value or index performance does not represent the performance of specific funds, and past performance does not indicate future performance.)

The most important thing for pension target funds is to pursue long-term stability. Therefore, from the perspective of basic income risk indicators, although in a good market, on average, pension FOF’s ability to obtain income is not as good as that of partial stock funds, but the return of pension FOF The ability to withdraw control and the calmar ratio are significantly ahead of the partial stock fund index. This shows that the advantage of pension FOF is that it pays more attention to risk control ability, and the cost performance ratio of income and risk is relatively high.

(The name “pension” does not represent income guarantee or any other form of income commitment. The product does not guarantee capital, and losses may occur. Investment needs to be cautious.)

At present, my country’s pension target funds operate in the form of FOF, and there are two types of strategies that can be adopted. “Target” refers to strategies that can be divided into target risk strategies and target date strategies. Products using these two types of strategies are in a period of rapid growth.

Pension target risk funds have fixed risk levels, such as conservative, prudent, and aggressive. Citizens who buy this product do not need to constantly monitor the market and dynamically adjust positions in order to maintain the risk level. Fidelity, a large overseas asset management company, is an example For example, for its Fidelity Asset Management series of target risk funds, the stock position center ranges from 20% to 85%, and the risk level of the products also ranges from low to high.

Retirement target date funds have a risk level that changes over time. They are one-stop pension plans, usually with the year in their names. Don’t worry about reducing your portfolio risk level as you approach retirement. The target date fund has a unique glide curve design, which is an investment model in which the stock position is gradually reduced as the investment time lengthens or approaches the retirement age. The target date of Minsheng Royal Kangtai Pension is 2040. The three-year holding period hybrid fund Take China Fund of Funds (FOF) as an example. From the establishment of the fund to 2040, the central allocation ratio of equity assets will be gradually reduced to 20%.

Pension target funds are originally committed to accumulating pension benefits for investors. At present, many funds have added Y-type shares, which will be more conducive to personal pension investment. This share is a share category set up separately for the personal pension investment fund business. It can be purchased through the personal pension fund account and enjoy certain management fee rates and custody fee discounts.

Three funds under Minsheng Royal Fund have also been approved to add Y-type shares. In order to better meet investors’ personal pension investment needs and reduce investors’ personal pension investment costs, the management fee for Y-type shares after establishment will be five It can be purchased in all consignment channels.

Risk warning: The above content does not constitute investment advice and income guarantee. The above products are issued and managed by Minsheng Royal Fund, and the consignment agency does not assume responsibility for product investment, redemption and risk management. Class Y fund shares refer to a class of fund shares established separately for the personal pension investment fund business. Subscription and redemption arrangements for Class Y fund shares, capital account management, etc. shall also comply with the state’s regulations on the management of individual pension accounts. The unique risks of investing in Class Y shares include the risk that the fund may be removed from the list of personal pension funds that can be invested in the process of operation, resulting in investors being unable to continue to purchase the relevant shares. The name “pension” in the product does not represent income guarantee or any other form of income commitment. The product does not guarantee capital and may suffer losses. Investment needs to be cautious. The fund contract stipulates the minimum holding period of fund shares. During the minimum holding period, you will face liquidity constraints due to the inability to redeem or sell fund shares. Market risk, the investment need to be cautious. The past performance of the fund does not indicate its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee for the performance of the fund. Investors must carefully read the fund’s “Fund Contract”, “Prospectus” and other legal documents and announcements, and on the basis of understanding the product situation and listening to the appropriateness opinions of the sales agency, according to their own risk tolerance, investment period and investment objectives, carefully Choose the right product. The fund manager manages the fund assets in accordance with the principles of honesty, integrity and diligence, but does not guarantee certain profits and minimum returns of the fund.