Bond market volatility significantly increased the difficulty of investment fund managers greatly-superrecovery

Bond market volatility significantly increased the difficulty of fund managers to invest greatly enhance the exposure of the Sina fund platform: letter Phi lags behind false propaganda, the performance of long-term lower than similar products, how to buy funds pit? Click [I want to complain], Sina help you expose them! [bond fund manager investment shock was intensified greatly enhance the difficulty of singing] bond bull market significantly recently slowed down. With interest rates fell to historic lows, the term spreads and credit spreads are very narrow, and the central bank’s monetary policy is not as expected, the recent surge in the bond market has significantly increased, greatly enhance the difficulty of investment fund managers. (China securities) director of fixed income Shanghai a fund company told reporters that there are signs that the bond market pessimism earlier is dissipated, but after a wave of rapid rise, the bond market adjustment is not sufficient, repeated rangebound will become a major feature of a period of time in the future. In this context, the band operation will become the consensus of the majority of fund managers. In the band trading, the ability of fund managers will be fully demonstrated. On the "rhythm" success or failure in many debt fund manager’s eyes, gradually exposed with market risk, bond market volatility will be significantly increased, but the "asset shortage" positive impact on the bond market in the next period of time, the bond market in a certain range of repeated shock will be a high probability event. This is the operation of the fund manager, is both an opportunity and a challenge, can step on the quasi bond band rhythm, will determine the performance of the fund is good or bad. JP Morgan fund manager Tang Tang said surplus year after year, taking into account the rapid decline in bond yields, in a low interest rate environment, the bond market volatility will be intensified, it is particularly important to grasp the investment rhythm. At the same time, in the context of frequent credit events, select coupons, fine investment, will help reduce the combination of credit risk exposure. Tang Junjie, director of Fixed Income Fund believes that in the short term, the central bank for the current price of funds to determine, will significantly affect the trend of short-term bond yields. The easing of monetary policy will be delayed, the specific point is unknown. Therefore, the bond yields in the short term is difficult to appear in the trend of the market, the rate of interest rates will be within a range of shocks, waiting for the central bank once again revealed a clear policy signal. Fourth quarter, a good grasp of the operation of the band to enhance the performance of the fund significance. Strict risk control greet Manniu although the bond market short-term repeated shocks trend cautious, but fund managers for the bond market in the long term can still continue Manniu trend with confidence. Tang Junjie believes that although the August China economic data improved, indicating short-term economic stabilization phase, but in the long term, the disappearance of the demographic dividend, the overall economic structural reforms, yet there is substantial progress. The excess to the capacity of the industry, is still in the process of deleveraging, weak demand at home and abroad, the consumer to pull the overall economic trend of the day, real economy returns downward, the corresponding downside risk-free rate of return, bond yields are still down space. At the same time, compared to the United States, Europe, Japan, bond yields, Chinese bond yields downward there is still room for more. Fortis fund fixed on相关的主题文章: