According to Zhitong Finance APP, Allianz Investment's senior product specialist Chen Jiaying stated that as inflation continues to decline, the Federal Reserve has begun a rate-cutting cycle. Many investors should consider locking in higher returns when interest rates are high. Short-term high yield bonds in the usa can provide an attractive choice for investors. The main reason is that the coupon yield of short-term high yield bonds is higher than that of high-rated bonds, with relatively lower volatility. Furthermore, companies' financial performance in the short term is more predictable, which can provide investors with a more robust income option.

Short-term high yield bonds refer to bonds with maturities within five years, which are attractive due to a good balance between risk and return. Despite being called high yield bonds, short-term bonds typically have lower interest rate risk compared to long-term bonds. Chen Jiaying explained that because the maturity of short-term bonds is relatively short, investors can more effectively predict a company's cash flow and financial condition, making the performance of short-term bonds more stable.

In the context of the usa's economy continuing to grow, coupled with employment and inflation indicators showing signs of easing, the market for high yield bonds appears particularly favorable. Currently, the yield in the usa's high yield market exceeds 7%, with the default rate consistently below the long-term average level. Chen Jiaying mentioned that this provides support for the performance of short-term high yield bonds. Compared to other regions, the returns on high yield corporate bonds in the usa can provide investors with relatively high visible returns.

Currently, the Allianz us short duration high income bond fund managed by Chen Jiaying and her team focuses on investing in high coupon, short-term bonds. She pointed out that our goal is to provide investors with stable coupon income rather than pursuing short-term capital appreciation. Such a strategy can help investors achieve more stable returns in an uncertain market.

When discussing investment strategy, Chen Jiaying emphasized the importance of diversified investment. "Our short-term high yield bond fund will avoid excessive concentration on the risks of individual industries or companies in order to maintain good diversification." She stated that the fund management team will closely monitor the companies' cash flow and financial condition to select enterprises with robust financial performance.

In addition to the short duration bond strategy, investors may also consider another diversified asset - the income and growth strategy, which can provide investors with a one-stop option for parallel income and growth. The diversified asset income and growth strategy can focus on high yield bonds, convertible bonds, and stocks in the usa market, aiming to obtain the coupon and dividends of these assets, and distribute realized profits to investors.

She emphasized that the volatility of the diversified bond strategy is lower than that of the pure stocks strategy, providing better risk management and stable coupon income, while also capturing the potential growth of the usa stock market, making it suitable for investors to deploy in the currently expensive valuation of the usa market to achieve ideal outcomes.风险回报比。

Chen Jiaying further pointed out that the above strategy is not based on predicting market trends. The focus is on selecting companies with profit growth and the ability to capture future market share, or selecting some companies with outstanding financial fundamentals from an asset and liability perspective. In terms of the usa market, the likelihood of high-quality companies achieving profit growth in the future remains high, while small and medium-sized enterprises benefit from interest rate cuts, both providing strong long-term support for usa assets.