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As the bond market continues to rise, investors are also showing a certain "fear of heights". Statistics show that since last year, the CSI All Bond Index has increased by 9.05% in total, and after a brief adjustment at the end of April, it has recently hit a new high.

Trend of CSI All Bond Index since 2023

(Data source: Wind, as of June 12, 2024. Index data is for reference only and does not constitute any investment advice or return suggestion. The past increase in the index does not indicate its future performance, nor does it represent the future performance of the index fund that tracks the index.)

The bull market in bonds continues. Is the bond market too crowded? Can bond funds still be bought now?

Let the data speak for itself! Taking the medium- and long-term pure bond fund index as an example, the index has accumulated a 57.32% increase in the past 10 years, with an annualized yield of 4.77%. From the historical trend of the index, we can see that there have been several large corrections during this period, among which the largest drop was 2.71% and the smallest was 1.05%, but they "recovered lost ground" after 250 days and 58 days respectively, and then continued to rise.

Trends of mid- to long-term pure bond fund indexes in the past 10 years

(Data source: Wind, statistical period: June 13, 2014 - June 12, 2024. Index data is for reference only and does not constitute any investment advice or return suggestion. The past increase in the index does not indicate its future performance, nor does it represent the future performance of the index funds that track the index.)

Investors can seize the subsequent opportunities in the bond market by investing in high-quality bond products.Jianxin Xinyi 90-day holding period bond fund, only investing in pure bond assets, focusing on medium- and short-term credit bond coupon strategies, supplemented by leverage and riding strategies to increase returns, can be used as a powerful tool for investors to keep up with the bond market.

As for the proposed fund managers, the product will be managed by Wu Peiwen and Li Xingyou, two fund managers who focus on the fixed income field and have many years of complementary advantages and tacit cooperation experience. In terms of specific division of labor, Wu Peiwen has rich credit research experience and is responsible for the product's credit investment strategy, including credit industry rotation and individual bond qualification grasp; Li Xingyou has a deep foundation in macro and interest rate research and is responsible for the product's yield enhancement strategy, such as the allocation of interest rate bonds and secondary capital bonds and swing trading.

Judging from past investment results, the CCB Short-Term Bond A jointly managed by the two has a net value growth rate of 9.82% in the past three years, outperforming the benchmark yield of 7.98% in the same period, and has received a three-year five-star fund rating from Galaxy Securities and Haitong Securities. (Data source: performance and benchmark yield are from the fund's 2024 first quarter report, as of March 31, 2024; ratings are from Galaxy Securities and Haitong Securities, as of April 5, 2024 and April 26, 2024.)

It is worth mentioning that Jianxin Xinyi 90-day holding period bond fund is another masterpiece of Jianxin Fund's "holding period" series. This series is a low-risk investment and financial management "toolbox" launched by Jianxin Fund in recent years, involving different product types such as medium- and short-term bonds and pure bonds, and covering a variety of holding periods such as 30 days, 60 days, 90 days, and 120 days, striving to meet the diverse investment and financial management needs of investors. From the historical performance, the products in the series that have been established for more than 6 months, the Class A shares have achieved a return of more than 3% since their establishment.

(Data source: Fund 2024 first quarter report, as of March 31, 2024.)

Jianxin Xinyi 90-day holding period bond fund will be committed to continuing the same series of excellent investment "funds" and strive to create long-term sustainable investment returns for investors. Investors who want to seize bond market opportunities through "funds" may wish to focus on this product.

Note: The historical performance of similar funds managed by Wu Peiwen is as follows:

Jianxin Short-term Bond was transformed from Jianxin Yueying Anxin Wealth Management on January 13, 2020. The net value growth rate of Jianxin Yueying Anxin Wealth Management A/B in 2019 was 2.5652%/2.8644%, and the benchmark yield rate in the same period was 1.3500%. The performance period from January 1 to January 12, 2020 was less than 6 months, and the performance was not disclosed. The net asset value growth rates of Jianxin Short-term Bond A/C/F in 2020 (January 13-December 31) and 2021-2023 were 2.30%/2.20%/1.85%, 4.13%/3.99%/4.09%, 2.07%/1.98%/2.07%, 3.37%/3.25%/3.35%, while the benchmark yields in the same period were 2.36%/2.36%/1.93%, 2.85%, 2.34%, 2.64%. The fund has been managed by Chen Jianliang and Liu Si since January 13, 2020, by Chen Jianliang, Liu Si, and Wu Peiwen since May 20, 2020, by Chen Jianliang and Wu Peiwen since June 17, 2021, and by Chen Jianliang, Wu Peiwen, and Li Xingyou since September 16, 2021. The investment objectives, investment strategies, investment scope and fund managers of Jianxin Short Bond Fund have all changed accordingly. Please refer to the legal documents such as the "Fund Contract" and "Recruitment Instructions" for details.

Jianxin Ruiyi Pure Bond A was established on February 22, 2016. The net asset value growth rate of the fund from 2019 to 2023 was 2.14%, 1.20%, 6.01%, 1.91%, and 3.24%, while the benchmark yields during the same period were 1.31%, -0.06%, 2.10%, 0.51%, and 2.06%. The fund has been managed by Niu Xinghua since February 22, 2016, by Niu Xinghua and Chen Jianliang since March 14, 2016, by Niu Xinghua, Chen Jianliang, and Yan Han since November 3, 2017, by Chen Jianliang and Yan Han since January 23, 2018, by Yan Han since August 20, 2019, and by Yan Han and Wu Peiwen since January 20, 2022. Jianxin Ruiyi Pure Bond C was established on May 21, 2021. The net asset value growth rates of the fund in 2021 (May 21 to December 31), 2022, and 2023 were 8.68%, 2.49%, and 3.03%, respectively, while the benchmark yields in the same period were 1.39%, 0.51%, and 2.06%. The fund has been managed by Yan Han since May 21, 2021, and by Yan Han and Wu Peiwen since January 20, 2022.

Jianxin Xinxiang Short Bond A/C/F was established on May 19, 2022. The net asset value growth rates of the funds in 2022 (May 19-December 31) and 2023 were 1.74%/1.67%/1.73%, 3.91%/3.82%/0.12%, and the performance benchmark yields in the same period were 1.19%/1.19%/1.19%, 2.64%/2.64%/0.06%. The fund has been managed by Wu Peiwen since May 19, 2022, and by Wu Peiwen and Li Xingyou since October 18, 2022. Jianxin Xinxiang Short Bond D was established on August 18, 2022, and the performance period to December 31, 2022 was less than 6 months, and the performance was not disclosed. The net asset value growth rate of the fund in 2023 was 3.74%, and the performance benchmark yield in the same period was 2.64%. The fund has been managed by Wu Peiwen since August 18, 2022, and has been managed by Wu Peiwen and Li Xingyou since October 18, 2022.

Jianxin Xinhe 30-Day Holding A/C was established on December 29, 2022. The net asset value growth rate of the fund in 2023 was 5.17%/5.06%, and the benchmark yield rate in the same period was 2.06%. The fund has been managed by Peng Ziyun and Wu Peiwen since December 29, 2022.

The historical performance of similar funds managed by Li Xingyou is as follows:

Jianxin Short-term Bond was transformed from Jianxin Yueying Anxin Wealth Management on January 13, 2020. The net value growth rate of Jianxin Yueying Anxin Wealth Management A/B in 2019 was 2.5652%/2.8644%, and the benchmark yield rate in the same period was 1.3500%. The performance period from January 1 to January 12, 2020 was less than 6 months, and the performance was not disclosed. The net asset value growth rates of Jianxin Short-term Bond A/C/F in 2020 (January 13-December 31) and 2021-2023 were 2.30%/2.20%/1.85%, 4.13%/3.99%/4.09%, 2.07%/1.98%/2.07%, 3.37%/3.25%/3.35%, while the benchmark yields in the same period were 2.36%/2.36%/1.93%, 2.85%, 2.34%, 2.64%. The fund has been managed by Chen Jianliang and Liu Si since January 13, 2020, by Chen Jianliang, Liu Si, and Wu Peiwen since May 20, 2020, by Chen Jianliang and Wu Peiwen since June 17, 2021, and by Chen Jianliang, Wu Peiwen, and Li Xingyou since September 16, 2021. The investment objectives, investment strategies, investment scope and fund managers of Jianxin Short Bond Fund have all changed accordingly. Please refer to the legal documents such as the "Fund Contract" and "Recruitment Instructions" for details.

Jianxin Xinxiang Short Bond A/C/F was established on May 19, 2022. The net asset value growth rates of the funds in 2022 (May 19-December 31) and 2023 were 1.74%/1.67%/1.73%, 3.91%/3.82%/0.12%, and the performance benchmark yields in the same period were 1.19%/1.19%/1.19%, 2.64%/2.64%/0.06%. The fund has been managed by Wu Peiwen since May 19, 2022, and by Wu Peiwen and Li Xingyou since October 18, 2022. Jianxin Xinxiang Short Bond D was established on August 18, 2022, and the performance period to December 31, 2022 was less than 6 months, and the performance was not disclosed. The net asset value growth rate of the fund in 2023 was 3.74%, and the performance benchmark yield in the same period was 2.64%. The fund has been managed by Wu Peiwen since August 18, 2022, and has been managed by Wu Peiwen and Li Xingyou since October 18, 2022.

Jianxin Ruixing Pure Bond was established on April 26, 2019. The net asset value growth rates of the fund in 2019 (April 26-December 31), 2020-2023 were 2.26%, 3.87%, 4.47%, 2.56%, and 3.20%, while the benchmark yields in the same period were 1.89%, -0.06%, 2.10%, 0.51%, and 2.06%. The fund has been managed by Li Yingfang and Liu Si since April 26, 2019, by Liu Si since January 25, 2021, and by Liu Si and Li Xingyou since February 21, 2024.

Jianxin Ruian One-Year Fixed Open was established on June 29, 2023. The net asset value growth rate of the fund in 2023 (June 29-December 31) was 1.29%, and the benchmark yield rate in the same period was 0.90%. The fund has been managed by Liu Si since June 29, 2023, and has been managed by Liu Si and Li Xingyou since April 26, 2024.

Data source: Fund periodic reports, as of March 31, 2024.

Risk warning: Funds are risky and investment should be cautious. The fund manager does not guarantee that the fund will make a profit or guarantee a minimum return. Investors should carefully read the fund legal documents such as the "Fund Contract" and "Recruitment Prospectus" to understand the risk-return characteristics of the fund, and judge whether the fund is suitable for the investor's risk tolerance based on their own investment objectives, investment period, investment experience, asset status, etc. The fund's past performance does not indicate its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. For a single subscription/subscription of fund shares, the minimum holding period for this fund is 90 days. During the minimum holding period, fund unit holders cannot apply for redemption or conversion and transfer. Fund unit holders can apply for redemption or conversion and transfer on or after the expiration date of the minimum holding period. This fund is issued and managed by China Construction Bank Fund Management Co., Ltd., which operates and bears legal responsibility independently. The sales agency does not bear the investment, redemption and risk management responsibilities of the product. (CIS)

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