Wind data shows that 1,530 bond funds in the entire market have yielded green in the first half of the year, of which 203 products have fallen by more than 5%
Researcher of "Investment Times" Qi Wenjian
The first half of 2022 has concluded, and the performance of public funds has recurred due to the changes in the market. While equity funds show off their "dismal" results, the performance competition of bond funds is also fierce. Which bond funds have achieved good results in the first half of this year? Which companies are leading in performance?
Recently, the Punctuation Finance Research Institute and the Investment Times conducted detailed statistics and research on all public funds based on data from Galaxy Securities, Haitong Securities, Wind and other multiple parties, and panoramicly scanned the changes in the Chinese fund industry in half annual.
Wind data shows that as of June 30, there were 5,425 bond funds in the market that could obtain the performance of the first half of the year (including bond QDII and bond FOF; various shares were calculated separately, the same below), with an average return rate of 0.37%, of which 1,530 bond funds had negative returns in the first half of the year.
It should be noted that during the research process, when stating the performance of the first half of this year, the bond funds established in 2022 were excluded. In addition, based on Haitong Securities data, researchers from the "Investment Times" counted the performance of pure bond funds and debt-biased funds under various public fund companies in the first half of the year, and excluded companies that could not count the yields of the above two types of products.
Haitong Securities data shows that the performance of pure bond funds under 130 fund companies in the first half of this year was counted, and all achieved positive returns; while 143 fund companies with performance of bond-oriented funds under the first half of this year were counted, and 61 companies received negative returns, accounting for 42.66%.
More than 28% of the products recorded negative returns
In the first half of this year, the equity market generally fell, and the bond market also showed a certain degree of adjustment. Against this background, the average yield of 5,425 bond funds included in the sample in the first half of 2022 was 0.37%. Among them, 3,895 achieved positive returns, accounting for 71.8%.
Specifically, the best performer was Guolianhuifu Bond C, which dominated the market with a yield of 38.11%. Following closely behind is Anxinmin Steady Growth A, with a yield of 12.42%. Ranked third is Anxinmin’s steady growth C with a yield of 12.19%. The yields of Anxin Balanced Increase of Profits A and C both exceed 9%, 9.97% and 9.69% respectively, ranking fourth and fifth respectively.
The top ten bond funds also include Anxin Wenjian Jushen holding A, C, Baoying Rongyuan convertible bonds A, C, and Bank of Communications for one year, with stable returns, all with a yield of more than 6%.
also includes 9 funds including China Merchants Ruiyi, Huashang Hengyi Steady, Yongying Hexiang A, GF Asset Management Global Selection Holdings RMB A for one year, Hongde Yutai A, and other 9 funds in the first half of the year have a yield of more than 5%.
Researchers from the Investment Times found that among the top 30 bond funds with yields, there are 19 debt-oriented mixed funds, and 6 mixed bond-type first-tier funds and mixed bond-type second-tier funds. In terms of management scale of
, three funds including Anxin Steady Profit A, Zhejiang Merchants Fengli Enhancement, and Anxin Steady Profit C exceeded 5 billion yuan, with a scale of 10.744 billion yuan, 6.417 billion yuan and 7.419 billion yuan respectively.
Compared with this, Anxin Balanced Profit C, Guolianhuifu Bond C, Baoying Rongyuan Convertible Bond A/C, Bank of Communications Stable Income, Jinyuan Shun'an Ansheng C, Bank of China Securities Jurui A/C and other products have a scale of less than 100 million yuan.
In addition, in the first half of 2022, there were 1,530 bond funds in the entire market with yields green, accounting for 28.2%. Among them, the net value of 203 funds fell by more than 5% this year.
In the last list of bond funds performance in the first half of this year, the net value of products such as Jiahe Panshi A/C, Penghua Global High-yield Bond USD Cash, and Southern Changyuan Convertible Bond A/C all fell by more than 16%, ranking in the bottom ten. Among them, Cathay Pacific managed by Wu Xiangjun ranked last with a high return of -40.39%.
Researchers from the Investment Times further found that among the 38 bond funds with a drop of more than 10%, as many as 15 funds with "convertible bonds" in their names, and 17 international (QDII) bond funds.
Among the bond funds that fell more than 10% in the first half of the year, only Huaxia convertible bond Enhanced A, Jinying Yuanfeng A, GF convertible bond A, and Southern Xiyuan convertible bonds with a scale of more than 1 billion yuan.
The debt-biased performance of three companies fell by more than 5%
The investment capabilities of a fund company may not be summarized by the performance of a single fund, but the overall strength needs to be observed.
counts the absolute returns of pure bond funds under fund companies in the first half of this year. Among the fund companies with a scale of more than 100 billion, Xingzheng Global Fund has an absolute return of 1.99%; Huatai-Prudential Fund ranks second with an absolute return of 1.87%. The worst overall performance is Bank of China Fund, with its pure bond funds having an absolute return of 1.25% this year, 0.74 percentage points behind the first place (management scale statistics as of the end of the first quarter of this year, the same below).
. A fund company with a scale of between 100 billion and 10 billion yuan, Dongxing Fund’s pure bond funds took the lead with an absolute return of 3.85%; followed by Huatai Securities Asset Management, with an absolute return of 2.8%. The absolute return of pure bond funds under Taixin Fund, which ranks at the bottom, is 0.14%.
Among fund companies with a scale of less than 10 billion, Beixin Ruifeng Fund won the first place with an absolute return of 2.64%, while Xinwo Fund ranked last with an absolute return of 0.27%.
From the perspective of debt-oriented funds, the performance of each fund company is another situation. China TaiPrudential Fund, a fund company with a scale of more than 100 billion yuan, performed the best, with its debt-oriented funds having an absolute return of 2.84% in the first half of the year; Caitong Securities Asset Management followed closely with an absolute return of 2.03%. The worst overall performance is Qianhai Kaiyuan Fund, with its debt-oriented funds with absolute returns of -4.69%; the second-to-last is Great Wall Fund, with debt-oriented funds recording an absolute return of -3.2%.
Among the fund companies with a management scale of between 100 billion and 10 billion, the one with the best absolute return performance of its debt-oriented funds this year is Zhejiang Merchants Fund, with an absolute return of 4.61%. The second is Green Fund and TEDA Manulife Fund, with absolute returns of its debt-oriented funds in the first half of the year 3.37% and 2.88% respectively. The most unsatisfactory overall performance is Nord Fund, which has only achieved an absolute return of -4.47% this year. In addition, the absolute returns of debt-oriented funds under the three companies, including Founder Fubon Fund, Shanghai Bank Fund, and China Overseas Fund, all fell by more than 4% in the first half of the year, namely 4.39%, 4.27% and 4.08% respectively. The performance differentiation among fund companies with a scale of less than 10 billion is more obvious. The absolute return of Xinghua Fund's debt-oriented funds in the first half of the year was 2.49%, ranking first among the companies with a scale of less than 10 billion yuan. Fuanda Fund performed the worst, with an absolute return of -9.82%.
It is worth noting that among the statistical samples of debt-biased funds, the absolute returns of debt-biased funds under Tianzhi Fund and GF Securities Asset Management both fell by more than 5% this year, down 6.37% and 5.53% respectively.
