"Fixed Income+" products experience a redemption wave as net values drop significantly

WealthCoffee · 2026-03-24T09:23:51+00:00

Against the backdrop of intensifying geopolitical conflicts, global stock market volatility has increased, leading institutional investors to redeem "fixed income plus" funds. In mid-March, massive net redemptions appeared in the market, A-share indices hit new lows for the year, and most hybrid bond funds and bond funds experienced significant declines in net value.

WealthCoffee

2026-03-24 09:23:51

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Caixin: As geopolitical conflicts intensify, global stock market volatility has also increased. Some institutional funds that are more sensitive to withdrawals have chosen to temporarily take profits and redeem “Fixed Income+” funds.

According to research reports from Huachuang Securities, from March 16 to 20, the “Fixed Income+” funds experienced continuous net redemptions in a single week, with the redemption on March 20 reaching the highest level since the second half of 2025. By the end of 2025, the stock allocation ratio of secondary bond funds in the entire market reached 13.9%.

On March 20, the Shanghai Composite Index fell below 4,000 points. Among a total of 3,760 hybrid, primary bond, and secondary bond funds, 2,906 had negative net values that day. On March 23, major A-share indices hit their lowest levels of the year. The 133 “Fixed Income+” products with the largest single-day net value declines all fell by at least 1.5%, with the overall market average decline at 0.53%.

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