In the fourth quarter of last year, public funds markedly increased their bond asset holdings, with a notable 12.44% growth in market value. Among these, convertible bonds emerged as a key strategic focus. Fund managers harbor an optimistic outlook for the convertible bond market, anticipating a sustained rise in market valuations throughout 2025. This forecast is underpinned by several favorable factors, including a tightening of supply and demand dynamics, strengthened support from the bond market's floor, and incremental capital inflows.
