Net worth reached a new high Changsheng Fund Wang Guijun led the performance of a number of pure bond products in the management of the top of the list

Reprinted from: Financial Community

Since the beginning of the year, the seesaw effect of equity and debt assets has been remarkable. According to data from Haitong Securities (11.89 + 0.17%, diagnosis stocks), as of January 28, compared with the average decline of more than 7% of hybrid funds and equity funds, the average return level of 0.05% of bond funds highlights its "asset allocation cornerstone" characteristics. The author found that Changsheng Anyi Pure Bond A/C and Changsheng Shengyu Pure Bond A/C managed by Wang Guijun under Changsheng Fund have both increased by more than 9.7% in the past year, and since 2022, the four products have achieved positive returns of more than 1%, and the net value has reached a new high.

　　Specifically, WIND data shows that as of the close of trading on February 8, changsheng anyi pure bond A/C and Changsheng Shengyu pure bond A/C yielded 1.22%, 1.20%, 1.05% and 1.04% respectively this year, and the cumulative net value reached a new high, 1.0991, 1.0897, 1.1929 and 1.1858, respectively. Short-term performance is not bad, pulling a long period of time, Haitong data show that as of January 28, before the Spring Festival, Changsheng Anyi pure bond A, Changsheng Shengyu pure bond A, Changsheng Shengyu pure bond C, Changsheng Anyi pure bond C in the past year with a yield of 10.35%, 10.29%, 10.05% and 9.74% ranked the 1st, 2nd, 3rd and 4th of the same 1470 funds, and the four products gathered at the top of the list, bringing "stable happiness" to investors.

　　According to public information, fund manager Wang Guijun has nearly 10 years of fixed income investment research experience, and his investment style is known for its stability, and while effectively grasping investment opportunities, it pays more attention to controlling risks and portfolio drawdowns. With the help of quantitative tools, the fund manager will establish a quantitative risk budget for different portfolios according to market conditions in order to effectively control drawdowns. With its representative work Changsheng Anyi Pure Bond A as an example, according to the data of Tianxiang Investment, as of February 8, the sharp ratio of the fund in the past 1 year was 10.46, and the investment cost performance was better than that of similar funds of 92%, and more importantly, the maximum drawdown of the product in the past year was only 0.15%, far below the market average.

　　The low drawdown of the fund's performance and the sustainability of excellent returns may be corroborated by the investment ideas of fund manager Wang Guijun in the fourth quarter. In the latest release of the 2021 four quarterly report, Wang Guijun wrote that ensuring liquidity is a prerequisite for investment operations, on the one hand, appropriate participation in the trading opportunities of interest rate bonds to obtain stable returns, on the other hand, according to industry and regional analysis to select credit bond investment, in order to optimize the portfolio allocation, avoid credit risks.

　　Industry experts said that because the investment object of bond funds is mainly bond assets, it generally has low expected fluctuations, and the investment, research, risk control and other teams of fund companies are checked layer by layer, which also helps to smooth fluctuations and appropriately allocate bond assets, whether it is in the face of the current market environment of weak stocks and strong bonds, or long-term confrontation with inflation, which is more appropriate.

Risk Warning: This material is not intended as any legal document. The Fund Manager undertakes to manage and use the assets of the Fund in good faith, diligence and responsibility, but does not guarantee that the Fund will be profitable or guaranteed. Funds are different from financial instruments with fixed income expectations such as bank savings and bonds, and the risk-return situation of different types of funds is different, and investors may either share the income generated by the fund's investment or bear the losses caused by the fund's investment. The performance of other funds managed by the Manager does not constitute a guarantee of the Performance of the Fund and past performance of the Fund is not indicative of its future performance. The fund manager reminds investors to carefully read the "Fund Contract", "Prospectus" and other legal documents, pay attention to the appropriateness opinions issued by the company in a timely manner, the opinions of various sales agencies on appropriateness are not necessarily consistent, and the company's appropriateness matching opinions do not indicate that a substantive judgment or guarantee is made on the risks and returns of the fund. The risk-return characteristics of the fund and the risk level of the fund in the fund contract vary due to different factors considered. Investors should understand the risk and return of the fund, make prudent decisions based on their own investment objectives, duration, investment experience and risk tolerance and bear their own risks, and should not accept sales behaviors that do not meet the requirements of laws and regulations and illegal publicity and promotion materials.