Why Can Developed Countries Dual Benefits Enhanced Rise Against Falls Under Geopolitical Conflicts and Rising Risk Aversion Sentiment?

Since the beginning of this year, global macroeconomic uncertainty has sharply increased, and market volatility has significantly intensified. Amid ongoing risk aversion, secondary bond funds that balance bond safety with equity growth are now entering a window for allocation. GF Double Advantage Enhanced C (012747) has stood out with its excellent performance, offering a noteworthy option for investors seeking stable returns.

Capable of Rising and Resisting Declines, Outstanding Historical Performance

Historical data clearly shows that GF Double Advantage Enhanced adapts well to market changes. Regardless of shifts in market style, it consistently delivers significant excess returns. Over the past two years, both the bond and stock markets have performed differently. As a secondary bond fund that captures opportunities in both asset classes, this product has not only achieved positive annual returns consecutively but also continuously outperformed its peers, demonstrating strong offensive capability. Wind data indicates that in 2024 and 2025, GF Double Advantage Enhanced achieved returns of 6.08% and 8.50%, respectively, while the average for similar funds was 4.90% and 5.59%. Its excess returns are thus quite notable.

Looking at the past year, in a complex environment where sector rotation in stocks accelerated and the bond market remained volatile, the fund’s asset allocation and timing ability have been fully validated. As of March 12, 2026, the fund’s one-year return reached 13.12%, nearly double the 7.04% average of its peers, outperforming the peer average by almost 100%.

While “rising” is valuable, “resisting declines” demonstrates true skill. In complex markets, drawdown control is a core measure of a fund manager’s risk management. GF Double Advantage Enhanced has delivered excellent results in this regard. Data shows that over the past year, while returns have been leading, its maximum drawdown was only 2.22%, significantly lower than the peer average of 2.44%. It also exhibits a clear advantage in risk-adjusted returns. This indicates that through precise macro asset allocation, the fund manager has pursued higher returns while providing a smoother experience for investors, truly achieving the goal of “lower volatility, higher returns.”

GF Double Advantage Enhanced’s outstanding performance has been recognized by the industry. According to Galaxy Securities’ Long-term Performance Rankings of Chinese Public Funds, as of February 28, GF Double Advantage Enhanced C ranked in the top 10 among 557 similar funds (ordinary bond funds (secondary, non-A class)) over the past year.

Global Perspective: Macro Analysis for Excess Returns

Behind its excellent performance is the strong management of experienced fund managers. GF Double Advantage Enhanced is currently managed jointly by senior fund managers Zhang Yuhao and Zhu Chenjie. Zhu specializes in fixed income and fixed income+ investments, with experience managing pure bond funds, first-tier bond funds, secondary bond funds, and hybrid bond funds, developing solid macro asset allocation skills. Zhang Yuhao also has an impressive background; he started as a macro strategist on the sell side, worked for well-known overseas institutions for many years, and has a keen sense of global market trends, excelling in top-down macro analysis and asset allocation.

Their combined strength is vividly demonstrated in practice. Based on years of macro research and investment experience, key decisions for GF Double Advantage Enhanced are made decisively. In March last year, when market expectations for overseas tariffs were still optimistic, the managers preemptively assessed risks, reduced equity positions early, and significantly increased bond durations. This forward-looking strategy effectively mitigated the impact of the global market plunge on April 7.

According to the fund’s investment scope, GF Double Advantage Enhanced covers A-shares, Hong Kong stocks, and various bonds. Considering the high volatility and investment difficulty of the Hong Kong market, the fund’s managers, with macro analysis and global asset allocation capabilities, provide a trustworthy choice for investors looking to include Hong Kong assets in a “Fixed Income+” portfolio. (Information)

Risk Warning: Funds are subject to risks; investments should be cautious. This material is for promotional purposes only and does not constitute any legal document. Fund and securities products are long-term investment tools primarily designed for diversification and reducing risks associated with individual securities. These financial products differ from bank savings or other fixed-income instruments that offer predictable returns. When purchasing financial products, you may share in the investment gains or bear the losses. Before making an investment decision, please carefully read the fund’s legal documents, including the fund contract, prospectus, and product summary, to understand the risk-return profile and features of the fund. Fully consider your own risk tolerance, investment objectives, time horizon, experience, and financial situation. Based on your understanding of the product and sales suitability advice, make a rational and cautious decision. Investment involves risks; the fund manager commits to managing the fund assets honestly and diligently but does not guarantee profits or minimum returns. Investors should read the legal documents thoroughly before investing.