Due to the valuation advantage of the amortized cost method, many fund companies have seen the development space for the debt-based base. In the context of the short-term interest rate downside, some fund companies have intensively reported a number of medium- and long-term fixed-debt bases, with the longest closed period of 86 months, or more than 7 years.
According to the statistics of Dongcai Choice, up to now, 17 fund companies such as E Fund, Bosera Fund and ICBC Credit Suisse Fund have applied for medium and long-term regular open bond funds. In addition to the two fund products being issued above, there are 28 fund products pending approval.
A person from the public market department in Shenzhen said: "These products are generally institutional customized products, mainly to meet the needs of institutional customers. For banking institutions, it is better to manage the holding of bonds than to invest in public funds. You can enjoy tax avoidance bonus."
From the perspective of the product closure period, the reported fund products are all over 2 years. This means that these products significantly extend the closure period compared to most of the existing debt-based debt lines. The above-mentioned bond fund manager also said that the short-term gains in the current one-year market are relatively low, and the yields of medium- and long-term varieties are considerable. This fixed debt base has fully considered the bond holding period when designing products, and adopted a medium- and long-term fixed-opening strategy.Shanghai Securities News)Zhang Mingjiang)xx