The second quarter report of the public fund began to disclose!BOC Fund's multiple solid -hardened products within the season's performance exposure

On July 6, the BOC Fund disclosed the report in the second quarter of 2022. Many funds such as China Banking Ruifu's floating net value, BOC currency, and BOC Tim Sheng have successively disclosed the operation within the season. Formally kicked off. From the perspective of disclosed products, the bond market fluctuated in the second quarter, and some bonds have low income within the collapsed season.

It was the first disclosure of the second quarterly report public fundraising fund

On July 6, BOC Fund disclosed a number of funds under the second quarter of 2022. According to the reporter's disclosure of the official website of the CSRC, it is currently the first public offering agency that disclosed the second quarterly report of its products, including multiple bond funds and currency funds.

Specifically, as of the afternoon of July 6, the Bank of China Fund disclosed a total of 12 funds in the second quarter, and 8 bond funds, including BOC China Bonds 1-5 years of National Camp, BOC Zhenxiang, BOC Xinxin, etc.; Four currency funds, including BOC Ruifu, BOC institutions cash management, BOC currency, and BOC live treasures.

It can be seen that the disclosed products have been fixed in the field of investment, and the investment effect is also closely related to monetary policy. The reporter found from the seasonal income of related bond funds and currency funds that some bond funds investment portfolios were affected by the overall bond market shock in the second quarter.

Note: Some debt -based performance display sources: Fund Second Season Report

Chen Yifei, a fund manager of BOC Sheng 39 months, pointed out in the quarterly report that the overall bond market fluctuated in the second quarter, the total price index of China Bonds was flat, and the full price index of China Treasury bonds fell 0.13%. It is reflected in the yield curve, and the trend is slightly flat. Among them, the yield of 10 -year Treasury bonds from 2.79%in the second quarter was 3.27bp to 2.82%, and the 10 -year financial bond (national opening) yield raised from 3.04%to 1.21bp to 3.05%.

According to the market analysis of the bond market, other fund managers also give similar or the same views, and based on the overall shocking bond market environment, they have expressed adjustments in strategies. In the ratio of leverage, actively participate in the band investment opportunities, optimize the configuration structure, focus on the short -term period interest rate bonds, and reasonably distribute the proportion of assets.

Generally speaking, the level of yields within the conclusion of the relevant debt season is between 0.7%and 1%, and the high yield is as high as BOC Zhen's net value growth rate of 0.92%during the season. Sexual financial bonds; BOC Xinxiang achieved 0.76%seasonal yields. Unlike the aforementioned products, the fund has configured a certain number of interbank deposits in the season. Similar combinations are also found in other funds disclosed this time.

Most cargo base yields are as low as 0.5%

In terms of currency funds, the seasonal yields are below 0.5%. Except for the BOC currency B season to achieve 0.5241%yields, the rest of the products have been disclosed, and the rest are below 0.5%.

Note: Some cargo base performance display Source: Fund Second Season Report

In fact, the loosening of monetary policy in the second quarter is also one of the factors that restrict the income of the combination. The central bank reduced the deposit reserve ratio of financial institutions in April by 0.25 percentage points. Judging from the positions of the four currency funds, the reporters are mostly to increase the allocation of interbank deposits and interbank deposits.

Among the assets of each period, the vast majority of the configuration within 30 days, and some of them are close to 70%of the net asset value of the fund. Fund managers of the four currency funds stated that they must seize trading opportunities in interest rate fluctuations to ensure better returns under low -risk conditions.

Regarding the bond market and economic macro -market views, the fund managers of each fund do not have more predictions, but the analysis of other professionals in the industry, in terms of short -term dimensions, in the stage of economic recovery, the capital side should not be not too stable. It will quickly tighten that the bond market may maintain a shock pattern. In the middle period, it is also cautious about the bond market.

The reason why Great Wall Fund analysis pointed out that one is the time period for the high probability of improvement, especially the possibilities of wide credit measures will be more and more likely to see; second, the monetary policy is loose enough and it is difficult to have a bad expectation; the third is some funds. Possible influences, such as the leverage of short -term credit, has been placed to the extreme, and the improvement of the equity market has been shown in the allocation of residential assets.

Daily Economic News

- END -