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Bond funds generally pursue relatively stable returns. Xinhua Finance and Bread Finance Research Institute sorted out the performance of one-year fixed-opening bond bases established before 2023, and more than 10 bond bases have an annualized yield of more than 5% since their inception (initial fund caliber, the same below), with better long-term performance.
Some typical cases include the one-year fixed opening of Huaxia Dinghua, the one-year fixed opening A of CITIC Securities' profit increase, and the one-year regular opening A of Haifutong.
Figure 1: Some of the better-performing one-year fixed opening bases
ChinaAMC: 2 of its products are on the list
There are many products on the list of one-year fixed opening bonds under China AMC.
As of April 22, the annualized rate of return of Huaxia Dinghua has reached 5.26% since its establishment. The net value of the fund has risen by 3.47% since the beginning of this year, and the annualized return of ChinaAMC Dingcheng has reached 5.17% since its establishment. The fund's net value is up 2.95% year-to-date.
Figure 2: The net value trend of Huaxia Dinghua since its establishment in one year
Both bonds are medium- to long-term pure debt funds with an annual management fee of 0.3%, and both funds operate on a regular basis with a closed-end period of one year.
As of April 22, the cumulative rate of return of Huaxia Dinghua for more than 3 years of establishment was 17.37%, outperforming the performance benchmark by more than 10 percentage points, ranking 56/1744 in the same category, and the cumulative rate of return of Huaxia Dingcheng was 10.64% in the first year of its establishment and more than 5 percentage points of outperforming the performance benchmark, ranking 55/2083 in the same category.
CITIC Securities increased profits for one year and fixed opening A: annual return rate of 4.29%
As of April 22, the data shows that the annual rate of return of CITIC Securities for one year of fixed opening A has reached 4.29%, and the yield has been among the top since the beginning of this year.
Figure 3: CITIC Securities' net value trend since its inception of one-year fixed opening A
According to public information, CITIC Securities Profit Increase One-Year Fixed Opening A was established in October 2021, the fund manager is CITIC Securities Asset Management, the fund manager is Tian Yu, and the annual management fee is 0.6%. The collective plan operates in a regular open mode, that is, it adopts an alternating cycle of closed operation and open operation, and is open for subscription and redemption once a year.
CITIC Securities will increase profits for one year, and set a hybrid bond fund. According to the first quarter report of 2024, the collective plan mainly holds financial bonds, and the top five heavy bonds include "23 Bank of Wenzhou Perpetual Bond 03" and "23 Lu Hongqiao GN002".
As of April 22, CITIC Securities has increased profits for more than 2 years and has a cumulative return of 17.11% over the past 2 years, outperforming the performance benchmark by more than 10 percentage points, ranking 7/553 in the same category.
HFT has been open regularly for a year: Since its establishment, its performance has fluctuated greatly
As of April 22, the annualized rate of return of HFT One-Year Regular Open A has been among the highest since its establishment, reaching 7.99%. The fund's net value is up 1.52% year-to-date.
Figure 4: The net value trend of HFT since the establishment of the one-year regular opening A
HFT One-Year Regular Open A was established in October 2013, the fund manager is HFT Fund, the current fund manager is Fang Kunming, and the annual management fee is 0.3%. The Fund operates on a regular basis, with a closed period of one year commencing on and including the day after the end of each open period.
HFT regularly opens A as a hybrid bond fund for one year. According to the first quarter report of 2024, the fund mainly holds financial bonds and corporate bonds, and the top five heavy bonds include "23 CDB 15" and "19 Chengdu Bank Level 2".
As of April 22, the cumulative rate of return of HFT has been 124.2% for more than 10 years since the establishment of HFT, outperforming the performance benchmark by more than 80 percentage points, ranking 5/147 in the same category.
The performance of HFT in a year of regular opening A fluctuates greatly, and the high returns mainly come from 2014 and 2015, with yields of 46.44% and 20.82% respectively. In 2016, 2017 and 2022, the fund experienced a drawdown of -1.12%, -0.51% and -0.02% respectively.
[Read Financial Report] is a column jointly created by Xinhua Finance and Bread Finance with the interpretation of financial reports of listed companies as the main content. Xinhua Finance is a national financial information platform built by Xinhua News Agency, which comprehensively covers the global stock market, foreign exchange market and bond market, and provides authoritative, professional and comprehensive financial information services.
(Article Serial Number: 1781234444070424576)
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