Original title: September debt base “getting together” to resume large-amount subscription fund manager said the future bond market is positive
Our reporter Wang Siwen
Recently, many debt bases have “opened the door to welcome customers” again, and have resumed large-amount purchases and other transactions. Industry insiders believe that under the turbulence and volatility of the A-share market, the attractiveness of bond funds for funds continues to increase, and the superimposed cross-season funding demand is relatively strong, which is the main reason why bond funds have resumed large-scale purchases after the suspension.
Regarding the trend of the bond market in the second half of the year, public offering participants believe that the policy level is positive for the bond market, and the risk of a sharp rise in interest rates is relatively small.
Debt-based attractiveness to market funds rises
On September 17, Yinhua Fund issued an announcement stating that it will resume the subscription, conversion and transfer and regular fixed-amount investment business of Yinhua Anxin short-term bond bond fund investors from September 22 to meet the financial needs of investors. On the same day, Zheshang Securities Asset Management announced that its subsidiary Zheshang Huijin Juying Medium and Short-term Bonds will resume large-amount purchases, large-amount conversion transfers and large-term fixed-term investment services starting on September 22.
Recently, there are other bond funds such as Wanjia 1-3 year policy financial bonds pure bond bonds, Penghua Jinli two-year regular open bonds, Invesco Great Wall Jingtaifengli pure bond bonds, and Dacheng Bloomberg’s 1-3 year bonds. Centrally resume subscription, large-amount subscription or individual investor subscription business.
In response to this phenomenon, a reporter from the Securities Daily found that the above-mentioned debt bases were all “opened to welcome customers” recently after the suspension of large-value subscriptions, large-value conversion transfers, and large-term fixed investment businesses were announced in early September. . On the whole, since September, there have been at least 25 debt bases (a total of A/C share statistics) in the entire market after the suspension has been announced and large purchases and other transactions have resumed.
A number of debt-based products announced that the resumption of large-amount purchases is mainly to meet the financial needs of investors. Some fund managers also analyzed that the demand for cross-season funds is relatively strong, and bond funds may open up subscriptions at the end of the season to attract more funds.
In fact, under the recent volatility in the equity market, the attractiveness of bond funds for funds has indeed risen, which is also reflected in the newly issued market for public funds. It is understood that the four bond funds held by GF Wenrui for 6 months, China Post Yuexiang for 6 months, Yifangda Yuefeng for one year, and Harvest Steady and Profitable for one year, these four bond funds were officially established in September. And the scale of initial offerings exceeded 4 billion yuan, ranking among the forefront of the scale of initial offerings of newly-issued funds in September.
On this basis, many debt-based products announced the early termination of the fundraising, and the actual fundraising period was significantly shorter than planned. For example, Nanfang Xingjinli’s one-year regular open bond fund began to raise on September 15, and the original deadline for fundraising was 12. On the 14th, the final closing date was advanced to September 15th, and the first fundraising was completed in only one day.
The bond market may still run low
Since the beginning of this year, the stock market has been volatile. The recent market’s strong and weak switching has been more obvious. The stock market has continued to fluctuate. Some investors have begun to turn their attention to lower-risk bond funds.
In this regard, a person from the Public Equity Fixed Income Department in North China said, “Compared with equity funds, bond funds have always had the characteristics of focusing on risk control and being more stable. It can be held for a long time in the form of fund fixed investment, diversify investment risks and increase the probability of profitability.”
Looking ahead to the bond market, Rabo, Director of the Public Bond Investment Team of the Industrial Fund’s Fixed Income Investment Department, told reporters, “The recent economic and monetary policy is positive for the bond market, and the risk of a sharp rise in interest rates is relatively small.”
Wang Kun, fund manager of the Penghua Fund’s fixed income headquarters, said in an interview with a reporter from the Securities Daily: “In the first half of this year, the regulatory policies were relatively strict, but the recent credit policy and infrastructure policy were more active than those in the middle of the year. The credit situation has improved marginally. From experience, if the performance of the above policies appears, the economy will gradually improve. At this point, it is possible that the bond market may run at a low level for a period of time. The closer the end of the year, the pressure The bigger it is. For bond investors, there is less room for gaming, and more importantly, the issue of rhythm.”
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