Farewell To The Negative Interest Rate Era &Nbsp; Financial Concern

In February, CPI rose by 3.2% over the previous year, which is already lower than the current 1 year bank deposit benchmark interest rate of 3.5%, which means that the negative interest rate situation, which lasted for 24 months, began to appear "inflection point".

　 Good buy fund It is believed that there will be room for further decline after the CPI has dropped sharply. At present, the focus of national macroeconomic regulation and control is to maintain a reasonable and stable economic growth. The sharp drop in CPI makes the worries about inflation less conducive to the implementation of the next regulation measures. For fund investors, it is still a good stage to invest in fixed income funds.

Feng Jun, manager of the nlian bond fund, said it expects CPI and PPI to decline further in March, PPI will go into negative territory and inflation pressure will gradually ease. The downside of inflation is that the growth rate of industrial added value has declined rapidly, investment growth has continued to decline, and the total retail sales of consumer goods has been slowing down. The economic data reflect the total demand of the society is shrinking, and the industrial products are still in a strong inventory stage. The slowdown in economic growth has gradually replaced inflation as the primary concern of the market, and the need for further tightening is decreasing. At present, monetary policy is facing a shift from tight to moderate relaxation, and the fine tune has become the main keynote. Under the downward trend of inflation, the relaxation of monetary and fiscal policies may exceed expectations, which will continue to support the bond market.

Feng Jun believes that the debt market began in the fourth quarter of last year. Slow cow The market will not be short-lived. Under the expectation of weakening macroeconomic policy and gradual easing of the policy, there will be further room for short-term interest rate or long-term interest rate this year. The decline in risk-free interest rates and the easing of monetary policy will also benefit the bond market. In this context, bond funds are expected to continue to strengthen.

The League of nations Allianz Plus Bond Fund, managed by Feng Jun, ranks eighth in the net income in the past two years, and the National Alliance's confidence and gain bond fund, which is also at the helm, has reached a cumulative net growth rate of 2.72% this year, ranking thirteenth in 102 similar funds. According to Haitong Securities previously issued fixed income fund absolute income list, from January 1, 2010 to December 30, 2011, League of Nations Security Fund The company's fixed income product net growth rate was 9.93%, ranking fifth in the industry; at the same time, the company in the past two years also accounted for 3.98% of the excess return on fixed income fund, the list of excess earnings eighth. The list is the average net growth rate of the net growth rate of the active fixed income product (excluding Monetary Fund) managed by the fund company according to the weighted assets in the period.