According to Wind statistics, among the top-performing products in May, Jinxin Minxing A, A pure bond fund, performed relatively well, achieving A monthly return rate of 0.75%. Other funds such as Hui ‘an Jiaxin Pure Bond, Donghai Xiangrui A, and Jinying Tianyu Pure Bond A also ranked high in monthly performance. From the perspective of fund types, the top performance of medium and long-term pure bond funds is significantly better than that of short-term bond funds.

However, the average monthly performance of short-term bond funds is above that of medium – and long-term pure bond funds. Wind data shows that the average performance of medium – and long-term pure bond funds in May was 0.12%, while short-term bond funds recorded 0.18%. For bond funds, such a gap is not small, and it also reflects that the demand for short-term bond allocation under the need for duration control in the bond market remains obvious at present.

In fact, as early as the first quarter of this year, the first-quarter reports of bond funds had already shown a relatively obvious phenomenon of reduced duration. According to the research report analysis of Minsheng Securities, in the first quarter of this year, the average duration of the top holdings of medium and long-term bond and short-term bond funds decreased by 0.15 years and 0.13 years respectively to 2.94 years and 0.97 years, and the divergence in duration continued to rise slightly.