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人的一生中,有许多的阶段,每个阶段都有各自的目标,需要资金支撑。年轻的时候求学、买房成家,中年时候养育孩子、照顾老人,年老后退休、养老等这些生命各个阶段的生活目标都需要资金的援助。现代金融服务于经济的方方面面,正是基于民众的这些需求,国外兴起了针对人的生命周期推出的目标理财规划,给民众的人生做好资金规划配置。发展到今天,这种针对生命周期的目标理财规划被广泛运用到子女教育、买房、养老等方面。根据多数学者的研究显示,投资者在进行中长期投资时最关键因素的就是资产配置。投资者在进行长期投资时不仅要关注资产配置比例还要考虑到投资期限的匹配度。通常,投资者资产主要投资到股票、债券及现金资产等,不同资产的安全性、收益性、流动性不同,因而必须要按照每个人实际情况统筹考虑。例如,投资者在接近用钱的时候,往往其投资期限比较短,此时其投资组合应当主要考虑安全性和流动性,那么投资组合中固定收益类如债券配置比例应当较高点,而股票配置比例应该低点。生命周期基金是一种自动调整资产配置比例的基金,其根据投资者所处的生命阶段,按照该阶段的风险收益特征配置各个资产比例。例如,在生命周期基金的前期,其对股票等权益类证券或基金的投资比重较高,因而其风险与收益水平也都比较高;后续时间里,生命周期基金投资于股票等权益类证券或基金的比例开始逐渐下降,同时不断增加对债券等固定收益类证券或基金的投资比例,同时其投资的风险与收益水平相应的也都下降;到了基金的后期,其主要投资于那些低风险证券或基金,此时基金投资更加注重安全性和流动性。本文就借大成财富2020基金为例,来进一步了解这种类型的基金。
In human life, there are many stages, each stage has its own goal, the need for financial support. When young, studying, buying a house, raising a child in middle age, caring for the elderly, retirement after retirement, and supporting for the rest of the world all require financial assistance for their life. It is precisely because of these needs of the public that modern financial services are provided in all aspects of the economy. Overseas target planning for wealth management has been launched in response to the life cycle of the people and funds have been allocated to people’s lives. Today, this life-cycle target financial planning is widely used in children’s education, buy a house, pension and so on. According to most scholars’ research, asset allocation is the most crucial factor that investors make when investing in the medium and long term. Investors in the long-term investment not only pay attention to the proportion of asset allocation but also take into account the maturity of the investment match. Generally, investors’ assets are mainly invested in stocks, bonds and cash assets. The security, profitability and liquidity of different assets are different. Therefore, they must be considered in accordance with the actual conditions of each individual. For example, when investors are approaching money, they tend to invest relatively short periods of time. In this case, the investment portfolio should mainly consider safety and liquidity. Then, the fixed income category such as bond allocation ratio should be higher in the investment portfolio while the stock Configuration ratio should be low. The life-cycle fund is a fund that automatically adjusts the asset allocation ratio and configures the proportions of various assets according to the risk-return characteristics of the stage according to the stage of life in which investors are located. For example, in the early stages of a life-cycle fund, its investment in equity securities or funds such as stocks takes a relatively high proportion and thus its risk and return levels are also relatively high. In the following period, the life-cycle fund invests in equity securities such as stocks or The proportion of the fund began to gradually decline, while increasing the proportion of bonds and other fixed-income securities or funds investment, while the investment risk and profit levels corresponding decline; to the fund later, the main investment in those low-risk securities Or fund, fund investment at this time pay more attention to safety and liquidity. This article by Dacheng Fortune Fund 2020 as an example to learn more about this type of fund.