Upholding integrity and striving for the long term, Liu Wenliang from Southern Fund seizes convertible bond opportunities through industry cycles

Liu Wenliang from Southern Fund has built a convertible bond investment system that combines both offensive and defensive strategies based on industrial cycle analysis, adopting an investment style of "economic growth + cyclical resonance." His investment strategy includes deeply exploring equity-type convertible bonds, diversifying the allocation of balanced convertible bonds, conducting swing trading on large-cap convertible bonds, and positioning in low-priced, oversold debt-type convertible bonds. The net asset value growth rates of the Southern Changyuan Convertible Bond and Southern Guangli Return Class A shares over the past year were 60.74% and 37.33%, respectively, significantly surpassing the performance benchmark during the same period