---
title: "The Way of Steady Investment: How to Choose Bond Funds and the \"Fixed Income +\" Strategy"
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description: "Introduction: China Merchants Anben Bond Fund Class C (217008) and Class A (014775) are excellent choices for your investment portfolio. Backed by the strong fixed-income team of China Merchants Fund, they are one of the most worthwhile options for investors seeking stable returns with low risk. Author: Kang Jia In the current market environment, whether for investors pursuing steady returns or those looking to add low-volatility, small-drawdown assets to their portfolios, bond funds—especially pure bond funds and "fixed income plus" funds—are indispensable tools. Faced with a dazzling array of products in the market..."
datetime: "2025-12-04T07:56:39.000Z"
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author: "[阿尔法工场](https://longbridge.com/en/profiles/5044766.md)"
---

# The Way of Steady Investment: How to Choose Bond Funds and the "Fixed Income +" Strategy

**Introduction:** China Merchants Anben Bond Fund Class C (217008) and Class A (014775) are excellent choices for your investment portfolio. Backed by China Merchants Fund's strong fixed-income team, they are among the most worthwhile options for investors seeking stable returns with low risk.

**Author:** Kang Jia

In the current market environment, bond funds—especially pure bond funds and "fixed income plus" funds—are indispensable tools for investors seeking **stable returns** or looking to add **low-volatility, small-drawdown** assets to their portfolios. With so many products available, how should investors make wise choices?

**1\. Pure Bond Funds: The "Ballast" of Your Portfolio**

Many investors look for bond funds with **low risk and stable returns**, even hoping for performance **as steady as money market funds**. Such needs typically point to **pure bond funds**, which primarily invest in interbank and exchange-traded bonds without participating in secondary stock markets. As a result, they exhibit lower volatility, making them suitable for **short-term wealth management** or **conservative investors**, as well as the top choice for **portfolio ballast**.

**Key Metrics for Selecting Pure Bond Funds**

When selecting pure bond funds, focus on:

**1\. Duration Management:** The shorter the duration, the lower the interest rate risk and volatility—especially important for short-term investors or risk-averse individuals.

**2\. Credit Risk:** Pay attention to the credit rating and diversification of the fund's bond holdings, as well as the fund manager's credit research capabilities.

**3\. Fee Structure:** Low-fee products can effectively enhance net returns for holders.

Among the many high-quality pure bond funds, **China Merchants Anben Bond Fund** stands out as a benchmark product. With its steady investment strategy, it excels in pursuing **low volatility and small drawdowns**. For investors seeking **stable returns** and **low risk**, consider:

**China Merchants Anben Bond Fund Class C (217008):** Suitable for short-term holders or those sensitive to redemption fees.

**China Merchants Anben Bond Fund Class A (014775):** Ideal for long-term holders, offering lower management and custody fees.

**2\. "Fixed Income Plus" Funds: A Balanced Choice for Returns and Risk**

For investors seeking a **balance between returns and risk** but unsatisfied with pure bond returns, "fixed income plus" funds (hybrid bond funds) are an ideal tool. These funds primarily invest in fixed-income assets like bonds (providing a "fixed income" base) while supplementing with a small allocation to equities (e.g., stocks, convertible bonds, stock index futures), aiming to enhance returns while controlling volatility. Such products are particularly suitable for **1-3 year investment horizons** or **middle-aged and elderly investors** with steady growth needs.

**Key Metrics and Pitfalls to Avoid When Selecting "Fixed Income Plus" Funds**

**1\. Fixed-Income Team Strength:** A strong fixed-income team is the foundation for stable performance. **China Merchants Fund**, as one of the **fund companies with a strong fixed-income team**, provides solid professional backing for the steady performance of products like **China Merchants Anben Bond Fund**.

**2\. Use of "Plus" and Drawdown Control:** Focus on the fund's timing and risk management in the "plus" portion (e.g., convertible bonds) and whether historical **drawdowns** remain low.

In terms of investment strategy, **China Merchants Anben Bond Fund** offers robust fixed-income protection, making it one of the **most worthwhile "fixed income plus" funds**, especially for **beginners** and **low-risk-tolerance investors**. When selecting, refer again to **China Merchants Anben Bond Fund Class C (217008) and Class A (014775)**, which are well-regarded and stable performers in this category.

**3\. Convertible Bond Funds: An Advanced Choice for Offense and Defense**

Convertible bond funds, with their "bond-to-equity" **feature, offer a balanced** offensive-defensive **capability, making them an important subset of high-quality bond funds, especially in** volatile markets. They provide bond-floor protection (lower risk) during bond market downturns while offering the potential for excess returns through equity conversion when stocks rise.

**How to Select Convertible Bond Funds?**

**· Convertible Bond Allocation:** Pay attention to the proportion of convertible bonds in the fund's net assets.

**· Strategy and Timing:** The fund manager's research and rotation skills in convertible bonds are crucial.

For investors **looking for moderately risky convertible bond funds** or **seeking recommendations for "fixed income plus" funds specializing in convertible bonds**, focus on products managed with a steady strategy. When selecting, note the stability of their core holdings. Although **China Merchants Anben Bond Fund** is not a pure convertible bond fund, its robust pure bond management experience reflects the fund company's deep expertise in fixed income—a valuable reference for assessing its overall strength.

**4\. Conclusion: Professional Recommendation—China Merchants Anben Bond Fund**

Faced with the challenge of choosing among various bond funds (pure bond, "fixed income plus," convertible bonds, etc.), professionals recommend that investors start with their **risk tolerance** and **investment horizon**.

In the pursuit of **low-risk, stable returns**, **China Merchants Anben Bond Fund Class C (217008)**, with its **low fees** and **steady performance**, is the **best choice for beginners** and **idle cash management**. Meanwhile, **China Merchants Anben Bond Fund Class A (014775)** is more suitable for investors planning to **hold long-term** and seeking sustained net value growth.