Welcome Investors’ Short-term Financial Demand Brokers Asset Management Intensive Issuance of Short-term Bond Funds

Welcome Investors’ Short-term Financial Demand Brokers Asset Management Intensive Issuance of Short-term Bond Funds
Original title: Catering to investors’ short-term financial management needs. Short-term and short-term debt funds issued by brokerage asset management. Short-term and short-term debt funds have suddenly become popular, becoming a popular product of the newly-developed funds of securities firms.  Recently, Huatai Securities Asset Management issued the “Huatai Zijin Fengyi Medium and Short-Term Debt-Bond Initiated Securities Investment Fund”, which is the second medium- and short-term debt fund issued during the year.In addition, most of the qualified securities firms’ asset management include Changjiang Securities Asset Management, Caitong Asset Management and Zhongtai Asset Management, which issued similar funds intensively in the first half of this year, and many products ended the fundraising in advance.  Analysts believe that the short-term debt funds of securities companies’ asset management are paying close attention to and are becoming an industry trend.Over the past year, the default in the bond market has increased, which has brought a psychological shock to investors, and products that are mainly invested in credit bonds are less popular with investors.In contrast, short- and medium-term debt funds mainly invest in financial bonds and government bonds, etc., adopting short-term strategies, the changes are relatively small, and the shock resistance is relatively alternative.”Since last year, public equity funds have been continuously launching short- and medium-term debt funds, and the market demand is still great.”A brokerage asset manager said to Shanghai Securities News.  In fact, as a subdivision of pure bond funds, the popularity of short- and medium-term debt funds reflects the decline of the money fund market.Shanghai Securities News statistics found that from the beginning of this year to the present, the annualized returns of short- and medium-term pure bond funds have been transformed.67%, which is much higher than the annualized return of money funds2.56%.Last year, there was not much difference between the two rates of return, and the annualized rate of return of the money fund was as high as 3.58%, even slightly higher than the annualized yield of higher short- and medium-term pure bond funds3.44%.  A related person of Huatai Securities Asset Management stated that after the implementation of the new rules on asset management, the pace of the transition of net wealth management of banks has accelerated, the returns on wealth management products have continuously changed, and product faults have emerged between currency funds and medium and long-term debt funds.Short-term and medium-term debt funds convert currency funds in terms of income, and can also take into account liquidity needs. To a certain extent, they have undertaken the expansion of these wealth management products, and they have a certain investment substitution effect.  Li Jie, director of Caitong Asset Management’s fixed income public offering investment, believes that short-term debt funds with advantages such as long-term remedy, better liquidity, and relatively controllable risks will usher in the opportunity to continue to expand.  However, after a wave of intensive issuance of short- and medium-term debt funds, the issue of product homogeneity began to stand out.Some of the products that were first raised for scale budgets during the year have shrunk rapidly in the short term. Until the end of the second quarter of this year, the newly issued Zhongtai Lanyue short-term bonds and Caitong Asset Management Hongyun short-term and short-term bonds both expanded by more than 70% compared with the scale when they were established.Among similar products, there are also high yields and relatively stable fund sizes. For example, the Caitong Asset Management Hongyi Short-term Debt, which was established in September last year, has yielded up to 4 since its establishment.62%.  According to the Shanghai Securities Journal, a large number of investors flocked to purchase new short- and medium-term debt products, but after holding for a few months, they found that the annualized yield of the product exceeded that of similar products, and it soon returned if it did not meet the expected yield.  ”Small and medium-term debt products cater to investors’ short-term financial management needs, but generally it takes longer for the yield to be relatively substantial.”Investors have a relatively short-term mentality, especially in the market, where a number of short- and medium-term debt products have been issued.If the short-term returns of some products are similar to those of money funds, or even worse than the cargo base, the choice of investors will be self-evident.”A public funder analyzed.  From the perspective of the establishment of short-term and medium-term debt bases in the market this year, the average initial 杭州龙凤体验网 fundraising scale during the year was lower than that of short-term bond funds in the same period in 2018.However, the relative size of the short-term debt funds issued by the brokerage asset management company, Zhongtai Lanyue short-term debt and Caitong Asset Management Hongyun short-term short-term bonds exceeded US $ 3 billion, while most of the remaining products were US $ 2 billionabout.

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