This year has witnessed a significant reduction in the overall surviving scale of bank convertible bonds due to a wave of maturities and market exits. This development poses considerable challenges to the asset allocation strategies of asset management institutions. As a cornerstone of the "fixed income +" strategy employed by many asset management products, the dwindling supply of convertible bonds could lead to upward pressure on market valuations. In response, institutions are proactively seeking out a broader range of income-enhancing assets and increasing their allocations accordingly, in an effort to mitigate these challenges and adapt to the evolving market landscape.