What are the characteristics of convertible bond funds, and how are the Bosera convertible bonds bei

Yes, the product launched by Bosera is currently very small in the market, and it is normal for everyone to not know much about it. However, I have summarized five characteristics for it, so you have to remember it!

a. Convertible bonds can be offensive and defensive, and have the characteristics of both ** and bonds. Convertible bond is a kind of bond that can be converted into a listed company in accordance with the agreement during the duration of the bond, which has the dual attributes and characteristics of a bond and a bond. Investors can choose to hold the bond to maturity and obtain the bond income from repayment of principal and interest, or they can choose to convert it into ** within the agreed time.

Due to the existence of this option, when the convertible bond and the corresponding underlying stock form a linkage effect, it will follow, and in the process, the convertible bond is supported by debt and has good resistance to decline.

b. There are few similar products at present, and the configuration value is extremely prominent. In recent years, there have been few convertible bonds issued in China's market, and there are not many bond-type bonds with the core strategy of enhancing returns through flexible allocation of convertible bonds. Convertible bonds** are bonds**, the risk of bond type ** is higher than that of the money market, lower than that of hybrid type and **type**, which belongs to the variety of medium and low return risk, and the profitability of this bond type ** can be enhanced by incorporating a certain proportion of convertible bond investment in the portfolio.

c. The convertible bond market will usher in more investment opportunities. With the development of China's bond market, the scale of the convertible bond market is also expanding day by day, and the situation of short supply in the convertible bond market is expected to improve, and the expansion of the market has greatly enriched the investment targets of convertible bonds. At the same time, with the adjustment of the A** market and the expectation of a large expansion of the convertible bond market, the level of the conversion premium rate of the convertible bond market has gradually decreased, and the value of the convertible bond investment has gradually become prominent.

Therefore, with the expansion of the capacity of the convertible bond market, the improvement of liquidity and the advantage of valuation, the incremental capital inflow of more institutional investors will continue to be attracted, and the investment opportunities in the convertible bond market will also increase.

d. Created by Bosera fixed income investment team. In the field of convertible bond investment, Bosera has developed the Bosera convertible bond rating system through empirical research and analysis and long-term investment management practice, which can better analyze the investment value characteristics of convertible bonds and give full play to the management advantages of its investment team.

e. Divide the ** share into class A and class C, and investors have more choices. According to the different ways of charging subscription fees and redemption fees, the ** shares are divided into class A and class C. Among them, the sales service fee is not charged for the Class C ** share from the ** assets of this class, and no redemption fee is charged for the redemption of the ** shares of this class with a holding period of not less than 30 days, but the redemption fee is taken for the redemption of ** shares of this class with a holding period of less than 30 days.

Convertible bonds have the attributes of both ** and bonds, combining the long-term growth potential of ** and the advantages of security and fixed income of bonds, and can be converted into bonds of the company under certain conditions. The bull market is equivalent to the stock base, the bear market is equivalent to the bond base, the bull market can maximize the return, and the bear market will have a certain amount of income in the case of capital protection. Bosera can be described as an old company, and the current IPO is the most suitable for building a position in the current shock period, and it is the top five companies in the Bosera industry, and it is more trustworthy.

Convertible bonds of rich countries are also being issued.

It is already a very popular investment product, which can be divided into a variety of categories according to the mode of operation, investment targets, etc., and convertible bonds are one of them, which mainly invests in convertible bonds. So what are the advantages and disadvantages of convertible bonds**?

1. Advantages of convertible bonds**

Convertible bonds have certain requirements for investors' time and investment experience, and convertible bonds** such as Ye Yanguo can find a more reliable ** manager, then the investment will be more worry-free, just choose the right ** and sell time.

Because convertible bonds** have both equity and debt characteristics, when the market is better, the profitability of convertible bonds** is relatively strong, even more than equity**.

2. Disadvantages of convertible bonds**

The risk of convertible bonds is higher than that of ordinary bonds, and when the market is bad, aggressive convertible bonds are even more powerful than those of **type**. Therefore, in the market environment of "stock and bond double bear" and "stock bear and bond bull", it is generally not recommended to participate in convertible bond investment.

3. Precautions for purchasing convertible bonds

1. Pay attention to the scope of investment

Generally, the proportion of convertible bonds** investment in convertible bonds is not less than 80%, and most of them are not invested in the ** market, and a small part will participate in the subscription or additional issuance of new shares in the primary market, but the proportion of such investment will not exceed 20% of ** assets.

2. Pay attention to the transaction costs

Bonds** more or less have transaction costs such as subscription fees, redemption fees, and sales service fees, and the setting of transaction rates for different ** is very different. The transaction fee rate is not directly related to the expected return, so it is recommended to choose a product with a relatively low fee rate.

Today, when the concept of financial management is deeply rooted in the hearts of the people, more and more friends have begun to buy **, financial products or **. Some friends find that there are two kinds of bonds, one is convertible bonds, and the other is bonds, which look very similar. Because there are still many friends who have not figured out the difference between convertible bonds** and bonds**, I will introduce to you here what are the differences between the two.

To put it simply, the difference between convertible bond base and bond** is mainly concentrated in two aspects, one is that the investment object is different, and the other is the stability is different.

The investment object is different.

The main investment objects of convertible bonds** are convertible bonds, while the main investment objects of bonds** are treasury bonds, financial bonds and corporate bonds. Here, I would like to introduce to you what a convertible bond is.

A convertible bond is a bond in which the bondholder can convert the bond into an ordinary bond of the company as agreed at the time of issuance. If the holder does not convert the shares within the specified period, then the principal and interest can be collected at maturity and can also be liquidated in the secondary market**.

Stability is different.

Because the convertible bonds held by convertible bonds have the right to be converted into convertible bonds, the return on investment that convertible bonds can obtain will be relatively high when there is a big bull market. Compared with convertible bonds**, the expected return of bonds** is relatively stable.

What is a convertible bond**? Literally, convertible bonds are invested in convertible bonds, both bond and hybrid, although they can also be invested, but subject to the restriction that 80% of assets must be invested in, the actual proportion of their investment in convertible bonds is very small and can be ignored. Hybrid**Since it can also invest in the market**, the risk will definitely be higher than that of the bond type**, but the expected return may also be higher.

How to buy convertible bonds**?

1. For the open-ended **, the selection method of bond type and hybrid type is no different from that of ordinary **. For example, try not to buy a new **, to check whether the past performance is stable and excellent, whether the manager's investment management ability is stable, whether there is previous experience in managing the same type, how the return during the tenure, whether the company's reputation is good, whether it can control risks well, and so on.

2. If you invest in the convertible bond index, you can get a return that is roughly consistent with the trend of the convertible bond index, and judge the ability of the index to track the underlying index, and whether the error is small. There are also some graded convertible bond indexes, which divide one into two or three different shares: class A is usually fixed income, the risk return is small, generally speaking, the probability of principal loss is very low, class B and class C are usually leveraged, which will amplify the risk and return several times, and many of these graded **shares are listed and traded, that is to say, you can buy in the **account, please note that the risk and return of this kind of **investment are significantly higher than that of ordinary convertible bonds**, There may be a risk of loss of principal.

Are convertible bonds** yielding high?

The risk of convertible bonds is lower than that of pure bonds, and it is more suitable for prudent investors. It is believed that when the white horse blue chips are good, the income from investing in convertible bonds is also quite considerable, and now the average yield of convertible bonds is more than 6%. Of course, prudent investors can also appropriately allocate some P2P investments.

Convertible bonds are bonds.

A kind of DU that can be converted into a **DAO of a bond issuing company, usually with a lower coupon rate. Essentially, a convertible bond is an option attached to the issuance of corporate bonds, allowing the purchaser to convert the bonds purchased into the designated company** within a specified time frame.

Convertible bonds** are mainly invested in convertible bonds, and offshore convertible bonds** are mainly invested in convertible preferred shares, so they are also called convertibles**. Investors who hold convertible bonds can convert the bonds into ** during the conversion period, or cash out the convertible bonds directly in the market**, or they can choose to hold the bonds to maturity and receive principal and interest. The basic elements of a convertible bond include the benchmark**, bond interest rate, bond maturity, conversion period, conversion**, redemption and resale terms, etc.

A convertible bond is a mixture of an ordinary bond and an option that can be converted into **, and the difference between the convertible bond ** and the benchmark **** constitutes the value of the embedded option.

A convertible bond is a bond in which the bondholder can convert the bond into an ordinary bond of the company as agreed at the time of issuance.

Convertible bondsRefers to the issuance by the Public Copy Division, within a certain period of time.

A corporate bond that is converted into a certain number of common shares at a certain rate or **, which has both debt and equity attributes.

Convertible bondsIt is a special category, which mainly takes convertible bonds as the investment target, and convertible bonds have both equity and debt properties, and have special risk-return characteristics.

According to the different ways of charging subscription fees and redemption fees, Bosera Convertible Bond Enhanced Bond Type ** shares are divided into Class A and Class C.

Among them: Class A ** share refers to the ** share that collects subscription and subscription fees when investors subscribe and subscribe, and collects redemption fees according to the holding period at the time of redemption.

There is no subscription fee for Class C**, but a sales service fee will be deducted from the assets of this class**, and no redemption fee will be charged for the redemption of Class C** shares with a holding period of not less than 30 days, but a redemption fee will be charged for the redemption of Class C** shares with a holding period of less than 30 days. This **Class A and Class C **** are different, Class A ** is 050019, and Class C ** is 050119.

Due to the difference in fees, the net value of the Class A and Class C shares will be calculated separately by dividing the net asset value of each class on the calculation date by the total number of shares of that class on the calculation date. Classes A and C cannot be converted to each other. Investors can compare the fees of Class A and C based on their own investment horizon and investment amount.

The main difference between Bosera convertible bonds A and C is the difference in several rates.

Type A has a subscription fee, and Type C has a subscription fee

The redemption fee for Type A is not 0 until it is held for more than 2 years, while the redemption fee for Type C is 0 after 30 days, but the redemption fee for redemption in less than 30 days is very high.

There is no sales service fee for Type A, and there is a sales service fee for Type C, which is an annual rate.

The sales service fee is a kind of ** expense, which is not paid separately by the investor, but is directly deducted from the total assets. Accrued on a daily basis, withdrawn from the total assets of ** company on a monthly basis. Although there is no subscription fee for Type C, the sales service fee will be paid as long as you hold it; Although Type A pays a subscription fee at the beginning, it does not need to pay a sales service fee.

From the difference in the above rates, it can be seen that if you are sure that you can hold the ** for a long time, you should buy Type A.

If you are sure that you will redeem it if you hold it for a short period of time, or if you are not sure about your holding period, it is recommended to buy Type C.

The boundary can be placed at 2 years, that is, more than 2 years to choose type A, and lower than 2 years to choose type C.

This ** was established in November 10, and it seems that you belong to Celgene subscription.

First of all, as a bond**, it may not be realistic to perform well in 11 years, because China has entered the path of interest rate hikes. The rate hike is a big blow to the performance of bonds**.

Judging from the chart of the net value growth rate since the establishment of this **, it basically revolves around the yield curve of the Shanghai Stock Exchange treasury bonds, and in general, it underperforms the yield of the treasury bonds. In this sense, continuing to hold this ** needs to be carefully considered. If this ** wants to achieve better returns, it must work the investment of other non-bond assets, and this is a test of the manager's ability.

That's all I want to say, if you want to know more details about this, you can go to the file of the Mimi.com to find this one, and do more research. It's good for you personally.