Since April 27, convertible bond funds have rebounded, with an average yield of over 16%

Choice data shows that as of July 22, 2022, the interval of the CSI Corporation (000832) has risen by 8.86%since April 27. It can be seen that since April 27, with the continuous recovery of the A -share market, the convertible bond market has also significantly warmed up, thereby the convertible bond fund recovery significantly.

As the market has recovered significantly, as of July 22, 2022, the fund name containing the word "convertible" convertible bond funds has an average yield of 16.16%since April 27. Specific to a single fund product, Baoying Rongyuan Convertible Bonds A/C's net value growth rate is up to 56.96%/56.86%, ranking first; , Yinhua convertible bond bonds and Ping An convertible bonds A/C, the net value growth rate of the interval is 30.08%/29.99%, 28.16%, 27.51%/27.4%.

In the latest public offering fund of Baoying Rongyuan convertible bonds, the fund manager said that the convertible bond index rebounded with the stock index in the second quarter, but the internal structure of the convertible bonds was differentiated, and the high -level price and low premium price of convertible bonds returned high. On the whole, after a rebound in the second quarter, the premium rate of convertible bonds is still at a high level, and the cost performance of large -scale assets is not significant. During the reporting period, the fund strictly complied with the fund contract agreement to invest in convertible bonds as the main target, and at the same time participated in stock investment in a certain position. The structure of convertible bonds is mainly based on high -elastic mid -high parity convertible debt. The choice of ponds is mainly based on new energy, military industry, breeding, public utilities and other industries.

There are fund managers in the market that the valuation of convertible bonds at the beginning of the year is at a historic high and the overall lack of security. In the first quarter, the "Double Killing of the Price Value" with the adjustment of the equity market. With the rapid recovery of the equity market since the end of April, the convertible bond market has also ushered in a smooth repair window under the support of positive stocks.

Looking forward to the market outlook, public offerings believe that convertible debt opportunities still mainly come from the stock market. After more than 2 months of rapid repair, convertible debts are expected to be more structural opportunities, but it is difficult to have overall rising markets. One is because the valuation itself is high, and the other is because the positive stocks behind many convertible bonds have returned to a relatively reasonable position. Convertible bonds will be more and more dependent on the bottom -up vouchers, looking for the high -quality and relatively reasonable targets of convertible bond valuations.

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