Medium and short-term bond funds suffered a withdrawal of more than 20%, and the largest withdrawal of products exceeded that of last year

Disturbed by the international situation and overseas markets, coupled with the poor expectations of China's capital and monetary policy, the short-term interest rate of the bond market has risen for a time since February this year. The medium and short-term bond funds mainly invested in short-term bond assets also recorded the largest pullback this year, with more than 20% of the medium and short-term bond funds retreating this year, which has exceeded the level of last year, Some funds also recorded negative returns during the year. Many industry insiders believe that the large withdrawal of short-term debt funds is expected to be a short-term phenomenon. From the perspective of prolonging the period, short-term debt funds can still create positive returns of more than 100bp per year. They are an alternative investment tool for monetary funds. In the current environment, short-term leverage strategy combined with credit selection strategy can improve the cost performance of asset allocation of medium and short-term debt funds.