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Mean reversion is the eternal melody for any market.

◎Reporter Ma Jiayue

Mean reversion is the eternal melody for any market.

Since the beginning of this year, the bond market has continued to strengthen against the backdrop of a scarcity of high-quality assets that can be allocated. Whether it is public funds, securities asset management or private funds, they have all welcomed a large amount of "hot money" to allocate bond assets. According to an interview with a reporter from Shanghai Securities News, many public and private equity institutions have recently taken the initiative to slow down the pace of "new products" at the sales end, and have managed investors' expectations by lowering performance benchmarks. According to data from Private Equity Ranking Network, the number of bond strategy private equity funds issued in July has been "halved" month-on-month. In addition, many private equity funds with tens of billions of yuan have increased their allocations to other types of assets such as equities, convertible bonds, and REITs to improve the balance of portfolio allocation.

Industry insiders said that in the long run, the bond market still has investment value, but against the backdrop of accelerated influx of short-term funds and frequent regulatory actions by the central bank, public and private equity institutions must strengthen investor expectation management, enrich sources of income in their investment portfolios, and avoid risk mismatches at the investor level.

If you ask which strategy is attracting attention and money this year, bond investment is undoubtedly the best.