China Net Finance, December 29 (Reporter Zhang Mingjiang) In 2023, the Internet wave will roll by, and the information age will turn the world into a global village where "chickens and dogs hear each other", and chasing "traffic" and "Internet celebrities" has also become a part of many people's lives. Looking back on 2023, some people still follow the "Tongliao Khan" to understand the world, some people break the defense from "** is expensive", some people follow the "subject three" to conquer the world, and some people absorb the positive energy of the network from the ordinary and brave life of "Uncle Ollie" who never brings goods.
Chasing "Internet celebrities" has become a specific habit of public life, and in the era when traffic is king, it is often the pride of "flying eaves and walking on the wall" or "blood falling frost" to attract people's attention. In the pursuit of investment returns, the majority of investors are easily coerced by traffic at the wrong time to see the "Internet celebrity**" for the first time, and then just like Guo Xiang in "The Legend of the Condor Heroes", they met at Fengling Ferry for the first time, and Yang was mistaken for life at first sight. And the one that is really suitable is like that Zhang Sanfeng, when he saw Guo Xiang for a hundred years, he was full of love that he couldn't beg for.
In this year's particularly "cold" market, the vast majority of pure debt** and some partial debt hybrid** still have good positive returns, but this kind of ** due to the short-term extremely low income by the third-party distribution platform and the many "senior** investment experts" who suddenly emerged on the network after 2020 can be ignored, although the public offering ** company has been emphasizing that fixed income ** should account for more than 50% of the asset allocation ratio, but because it has no "hero" halo, most investors and intimate **can't" Running in both directions".
The vast majority of pure debt** achieved positive returns during the year.
Since 2021, the market structure has been interpreted to the extreme, with frequent rotation of hot plates, and serious differentiation in the performance of equity **. Since the beginning of this year, the AI boom has driven the performance of some equity ** to soar in the first half of the year and then fell rapidly, and a few sectors have been short-lived**, but most of the sectors have performed poorly during the year, and the performance gap of the first equity ** has exceeded 110%.
According to Flush iFinD data, as of December 27, the average decline of ordinary **type** and partial stock hybrid ** during the year was more than 15%, and the overall performance was even worse than that in 2018, and most investors who held equity ** lost a lot during the year. It is worth mentioning that a large number of ordinary investors are often attracted during the period when the net value of "Internet celebrities**" rises sharply, and some investors who follow the trend at the high point will suffer greater losses.
Some investors laughed at themselves on Weibo: just because she looked at her in the crowd one more time, it has become a regret for several years.
The volatility of the equity market has increased, and after experiencing the test of net value drawdown, investors' demand for prudent financial management has generally increased. But just like Zhang Sanfeng to Guo Xiang, he may be looking back.
According to the data, as of December 27, the average of medium and long-term pure debt and short-term debt during the year was 345%, only 10 of the 3,003 (Class A and C shares are calculated separately) that have been established for one year have negative returns, and as an "asset safety cushion" pure bonds**, the performance is particularly intimate this year.
The data shows that aside from the huge redemption of bonds that have led to a sharp rise in net value, Dongxing Xingrui has a cumulative increase in net value of more than 11% in a year, and more than 20 pure bonds such as Southern Chongyuan Pure Bond A, Harvest Wilmar Pure Bond Term Bond, and Bosera Jingxing Pure Bond have risen by more than 7% during the year, and the annualized income of the three ** since their establishment has been08%, in addition, a total of 282 pure bonds** have risen by more than 5% during the year. According to the data, the annualized return of the statistically available pure debt ** in the past three years is 327%, as the most important "safety cushion" fixed income category in asset allocation**, the overall return of pure debt** this year is better than that of the past two years, and the annualized return of about 5% is not inferior to that of medium and long-term high-performance equity **.
In addition to pure debt**, some fixed income + partial debt hybrid** also achieved good returns during the year. According to the data, as of December 28, the net value of Huaxia Pantai Mixed (LOF) A this year has accumulated **921%, the annualized return of ** since its inception on December 26, 2016 is 567%。Ping An Ruixing has a one-year fixed opening hybrid A this year, with a cumulative increase of more than 849%, with an annualized return of 506%。Hongde Ruixiang One-year Holding Period Hybrid A C, Taikang Jingtai Return Hybrid A C, E Fund Hengsheng 3-month Fixed Opening Hybrid Initiator, etc., have been established for more than 2 years, with a net value increase of more than 6% and an annualized return of more than 5% during the year.
For the vast majority of ordinary investors, especially the new people, moisturizing things silently and steadily income is the most important part of asset allocation and wealth appreciation, the vast majority of equity ** in the medium and long term can not guarantee an annualized rate of return of more than 5%, and the vast majority of equity ** holders can not hold an equity class ** for more than one year, to obtain stable and positive income does not have to chase "Internet celebrity**" As the author of the Internet article said: The rivers and lakes may not be far away, why should a knight wear a sword.
Public offering** is optimistic about the opportunities in the bond market next year.
On December 22, a number of state-owned banks announced a cut in deposit rates, which is the third "interest rate cut" by commercial banks since 2023. After three rounds of cuts, the three-year fixed deposit interest rate of major state-owned banks fell to 195%, officially entering the "1 era".
Is now a good time to enter the bond market?
Du Caichao, manager of Southern Chongyuan Pure Bond **, believes that first of all, from a short-term perspective, after the adjustment from September to November, the yields of many bond varieties have fallen back to the level before the two interest rate cuts in April this year, and it is expected that the last two months may be a better time to open a position. Secondly, from a medium- to long-term perspective, there is still room for RRR and interest rate cuts in the future, so now that we have locked in bonds with high coupons relative to the future, it will definitely help for better returns in the future in the event of an interest rate cut cycle.
Nuoan** believes that a new round of downward trend in bank deposit rates has officially begun, and the market has rekindled the easing expectation of shifting from "easy money" to "easy credit". We note that the timing of this round of deposit interest rate cuts is close to the end of the year, and it shows the characteristics of "the longer the term, the greater the decline", which may improve the pattern of continuous narrowing of banks' net interest margins since the beginning of this year, which may help banks reduce their overall debt costs next year and better serve the high-quality development of the real economy. In the future, it is necessary to observe and verify whether the reduction of deposit interest rates is "for large banks to take the lead and for small and medium-sized banks to follow", and whether it will further drive down the relevant loan interest rates. For the bond market, the current fundamentals continue to recover weakly, the policy tone remains stable, interest rate cuts next year may still be expected, and the medium- and long-term trend of the risk-free interest rate pivot downward is relatively certain. At present, on the premise that the cross-year liquidity is safe, we can consider the appropriate allocation of interest rate bonds and high-grade credit bonds to lay a good foundation for investment in the coming year.
Rongtong ** believes that it may be good for the bond market. On the one hand, with the new round of deposit rate cuts, the monetary policy space is expected to be opened, and the policy interest rates such as MLF and LPR are also expected to be lowered in the future, driving interest rates downward. On the other hand, the reduction of deposit interest rates is expected to further promote the "move" of deposits to wealth management, while the decline in the cost of bank liabilities is also expected to increase the allocation of bonds and push interest rates down.
For asset allocation, GF** believes that, generally speaking, a more scientific asset allocation plan can divide funds into four main categories: cash, fixed income, equity, and alternative investment. The core part of the account allocation is still fixed income and equity, which together can account for about 70% of the account, and their respective allocation ratios can be determined according to their own risk appetite. If you are a more stable investor, you can consider increasing the proportion of fixed income.