申万宏源转债观察 | 一级债基积极补仓,偏爱次新减持临期

申万宏源融成
Jan 28

一级债基积极补仓,偏爱次新减持临期黄伟平 王明路 徐亚摘要1. 扩容放慢,公募基金转债持仓上行斜率放缓2025Q4转债市值环比萎缩规模扩大,但公募基金扩容同样放慢,公募基金转债持仓上行斜率趋缓。截至2025年四季度末,转债市场总市值约为7255亿元(环比减少578亿),统计口径内的基金总净值为22万亿元(剔除货基和REITS,环比增加0.7万亿),口径内公募基金环比增加规模较上季度同样减少,转债市...

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