债券基金投资组合的常见品种

Bond Fund portfolio of common varieties

Bond funds mainly invest in fixed-income categories of financial instruments, including the issue of domestic law and the listing of the bonds, central bank bills, Jinrong Zhai, enterprise (corporate) bonds, convertible bonds, asset-backed securities.
Bonds are bonds issued by the State, is the central government to raise the issue of financial funds and a government bonds, are issued by the central government to investors, in a certain period of time commitments to pay interest and repay principal of the debt maturity of debt certificates. Since the issuance of treasury bonds is the main countries, it has the highest rating, is recognized as the safest investment instruments.
Central bank bills that the central bank bills, the central bank is to regulate the excess reserves of commercial banks to the commercial banks to issue short-term debt certificates, its essence is the central bank bonds. The reason is "the central bank bills" is to highlight features of its short-term (from the central bank bills issued, the shortest period of three months, the longest and only one). The purpose of issuing central bank bills is to return funds, the market surplus funds will be frozen at the central bank to ease market pressures faced by inflation, monetary policy is a kind.
Financial bonds by banks and non-bank financial institutions issuing bonds. As banks and other financial institutions in a country's economy accounts for more special status, the Government of their operators have strict supervision, therefore, the creditworthiness of financial bonds are usually higher than that of other non-financial institutions bonds, default risk relatively small, compared with High security. Therefore, the interest rate financial bonds are usually lower than the general corporate bonds, but higher than the risk of smaller government bonds and bank deposits.
Corporate debt is engaged in production and trade, transportation and other economic activities of the bonds issued by enterprises. At present, China's corporate bonds, corporate bonds have a place, focusing on corporate bonds, corporate bonds with the coupon, with the balance of the benefits of corporate bonds, certificates of deposit, product quotas short-term corporate bonds and corporate financing, such as vouchers.
August 14, 2007, the SFC issued and implemented the "corporate bonds issued to the pilot," signifies that China's corporate bonds issued officially started. Bonds is now a debt of the listed companies. Corporate debt mainly by the National Development and Reform Commission audit, corporate bonds and the SFC to conduct audits. Compared with corporate bonds, corporate bonds some risks, not the general credit rating of listed companies, mainly from investment in bonds and credit risk, therefore, in order to compensate for credit risk on the corresponding increase in interest rates.
Convertible bonds are convertible bonds referred to. It is in a specific period of time, according to specific conditions converted into ordinary shares of corporate bonds. Convertible bonds with both the characteristics of bonds and stocks, with claims of equity and convertible nature. Convertible bond holders also enjoy under certain conditions, the bond will be sold back to the issuer's right to the issuer under certain conditions, have the right to mandatory redemption of the bonds. Double the right to choose is convertible bonds of the most important financial characteristics, it is there so that investors and issuers to the risk of a certain income limit within the scope of and can use the characteristics of hedge stocks, was more determined The proceeds.
Asset-backed securities and asset securitization similar to Zimu, the actual asset securitization is a way. And asset securitization in terms of popular will is the lack of liquidity, but could have expected income assets, in the capital market through issuing securities on the way to be sold to obtain financing, to maximize assets increased mobility. Asset-backed securities to pay for the asset-backed securities from a pool of cash flow. Asset securitization to pay the principal amount of time often dependent on the recovery of the principal amount of assets involved, such principal amount of recovery time and the corresponding asset-backed securities to pay the principal of time inherent unpredictability, is different from the asset-backed securities Other main features of a bond.