Convertible bonds' risk-return profile improves; funds adjust positions to capture structural opportunities

Recently, the convertible bond market has undergone a round of adjustment, and product net values have come under pressure in tandem. Industry insiders believe that the risk-return profile of the convertible bond market has improved somewhat, but valuation pressure has not yet been fully cleared. Many fund managers have already adjusted their positions accordingly, guarding against potential risks while seeking out structural allocation opportunities.