The thickening of fluctuation buffer pads has quietly made convertible bond strategies popular.

"Recently, there has been a significant shift in investor sentiment, with previously cautious funds beginning to actively inquire," said a senior manager of a private equity convertible bond strategy fund. In July, which has just passed, while products such as stocks and quantitative indices generally experienced a pullback, a number of previously unremarkable convertible bond strategy products managed to withstand market fluctuations, with some even achieving positive returns. According to data from the Private Equity Ranking Network, in July, the subjective long, quantitative long, and long-short stock strategy indices fell by 9.29%, 15.38%, and 7.73%, respectively, while the convertible bond trading strategy index rose against the trend by 0.81%, accumulating a 1.35% increase so far this year, thereby highlighting its value in a highly volatile market environment.