{"id":31493,"date":"2023-12-07T10:41:06","date_gmt":"2023-12-07T10:41:06","guid":{"rendered":"https:\/\/masterskills.org\/blog\/chien-luoc-chi-so-trai-phieu-pure-bond-index-strategy-la-gi.html"},"modified":"2023-12-23T08:17:42","modified_gmt":"2023-12-23T01:17:42","slug":"chien-luoc-chi-so-trai-phieu-pure-bond-index-strategy-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/chien-luoc-chi-so-trai-phieu-pure-bond-index-strategy-la-gi.html","title":{"rendered":"Chi\u1ebfn l\u01b0\u1ee3c ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu (Pure bond index strategy) l\u00e0 g\u00ec?"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda<\/p>\n<\/div>\n<\/div>\n

Chi\u1ebfn l\u01b0\u1ee3c ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu (Pure bond index strategy)<\/font><\/h2>\n

\u0110\u1ecbnh ngh\u0129a<\/b><\/p>\n

Chi\u1ebfn l\u01b0\u1ee3c ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu <\/b>trong ti\u1ebfng Anh l\u00e0 Pure bond index strategy<\/b>.\u00a0<\/i><\/p>\n

Chi\u1ebfn l\u01b0\u1ee3c ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu<\/i> c\u00f3 ngh\u0129a l\u00e0 thi\u1ebft k\u1ebf m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 sao cho k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p v\u1edbi k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 c\u1ee7a m\u1ed9t ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu n\u00e0o \u0111\u00f3. K\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 \u0111\u01b0\u1ee3c \u0111o l\u01b0\u1eddng v\u1ec1 t\u1ed5ng t\u1ec9 l\u1ec7 l\u1ee3i t\u1ee9c \u0111\u1ea1t \u0111\u01b0\u1ee3c trong m\u1ed9t kho\u1ea3ng th\u1eddi gian. T\u1ed5ng t\u1ec9 l\u1ec7 l\u1ee3i t\u1ee9c n\u00e0y k\u1ebft h\u1ee3p t\u1ea5t c\u1ea3 c\u00e1c ngu\u1ed3n l\u1ee3i t\u1ee9c t\u1eeb vi\u1ec7c n\u1eafm gi\u1eef danh m\u1ee5c tr\u00e1i phi\u1ebfu.<\/p>\n

Hi\u1ec3u theo c\u00e1ch \u0111\u01a1n gi\u1ea3n, chi\u1ebfn l\u01b0\u1ee3c\u00a0ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu <\/i>l\u00e0 chi\u1ebfn l\u01b0\u1ee3c c\u1ed1 g\u1eafng b\u1eaft ch\u01b0\u1edbc k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 c\u1ee7a ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu \u0111\u01b0\u1ee3c cho tr\u01b0\u1edbc.<\/p>\n

\u01afu \u0111i\u1ec3m<\/font><\/h3>\n

– Chi\u1ebfn l\u01b0\u1ee3c\u00a0ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu<\/i> \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng r\u1ed9ng r\u00e3i v\u00ec nh\u1eefng l\u00ed do sau \u0111\u00e2y:<\/p>\n

+ Th\u1ee9 nh\u1ea5t, b\u1eb1ng ch\u1ee9ng th\u1ef1c t\u1ebf \u0111\u00e3 ch\u1ec9 ra r\u1eb1ng v\u1ec1 m\u1eb7t l\u1ecbch s\u1eed, to\u00e0n b\u1ed9 nh\u1eefng k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 c\u1ee7a nh\u1eefng nh\u00e0 qu\u1ea3n l\u00ed ch\u1ee7 \u0111\u1ed9ng c\u00f2n h\u1ea1n ch\u1ebf.<\/p>\n

+ Th\u1ee9 hai, ph\u00ed t\u01b0 v\u1ea5n qu\u1ea3n l\u00ed b\u1ecb \u0111\u1ed9ng th\u1ea5p h\u01a1n so v\u1edbi ph\u00ed t\u01b0 v\u1ea5n qu\u1ea3n l\u00ed ch\u1ee7 \u0111\u1ed9ng. Ph\u00ed t\u01b0 v\u1ea5n ph\u1ea3i tr\u1ea3 cho nh\u1eefng nh\u00e0\u00a0qu\u1ea3n l\u00ed ch\u1ee7 \u0111\u1ed9ng kho\u1ea3ng t\u1eeb 15 \u0111\u1ebfn 50 \u0111i\u1ec3m c\u01a1 b\u1ea3n (basic points). Ng\u01b0\u1ee3c l\u1ea1i, ph\u00ed d\u00e0nh cho danh m\u1ee5c ch\u1ec9 s\u1ed1 t\u1eeb 1 \u0111\u1ebfn 20 \u0111i\u1ec3m c\u01a1 b\u1ea3n.<\/p>\n

+ Th\u1ee9 ba, ph\u00ed kh\u00f4ng li\u00ean quan t\u1edbi t\u01b0 v\u1ea5n v\u00ed d\u1ee5 nh\u01b0 ph\u00ed l\u01b0u k\u00ed c\u0169ng th\u1ea5p h\u01a1n so v\u1edbi qu\u1ea3n l\u00ed ch\u1ee7 \u0111\u1ed9ng.<\/p>\n

+ Cu\u1ed1i c\u00f9ng, c\u00e1c nh\u00e0 t\u00e0i tr\u1ee3 c\u00f3 s\u1ef1 ki\u1ec3m so\u00e1t l\u1edbn h\u01a1n c\u00e1c nh\u00e0 qu\u1ea3n l\u00ed b\u00ean ngo\u00e0i khi chi\u1ebfn l\u01b0\u1ee3c n\u00e0y \u0111\u01b0\u1ee3c l\u1ef1a ch\u1ecdn.<\/p>\n

H\u1ea1n ch\u1ebf<\/font><\/h3>\n

– Chi\u1ebfn l\u01b0\u1ee3c\u00a0ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu<\/i> c\u0169ng c\u00f3 nh\u1eefng h\u1ea1n ch\u1ebf. Chi\u1ebfn l\u01b0\u1ee3c\u00a0ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu theo s\u00e1t ch\u1ec9 s\u1ed1 nh\u01b0ng kh\u00f4ng ch\u1ec9 ra \u0111\u00f3 l\u00e0 k\u1ebft qu\u1ea3 t\u1ed1i \u01b0u.<\/p>\n

– H\u01a1n th\u1ebf n\u1eefa s\u1ef1 ph\u00f9 h\u1ee3p v\u1edbi m\u1ed9t ch\u1ec9 s\u1ed1 n\u00e0o \u0111\u00f3 kh\u00f4ng c\u00f3 ngh\u0129a l\u00e0 nh\u00e0 qu\u1ea3n l\u00ed s\u1ebd l\u00e0m th\u1ecfa m\u00e3n m\u1ee5c ti\u00eau v\u1ec1 l\u1ee3i t\u1ee9c c\u1ee7a kh\u00e1ch h\u00e0ng.<\/p>\n

– Cu\u1ed1i c\u00f9ng s\u1ef1 ph\u00f9 h\u1ee3p v\u1ec1 ch\u1ec9 s\u1ed1 ngh\u0129a l\u00e0 nh\u00e0 qu\u1ea3n l\u00ed ti\u1ec1n t\u1ec7 s\u1ebd b\u1ecb gi\u1edbi h\u1ea1n v\u1edbi nh\u1eefng khu v\u1ef1c th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu m\u1eb7c d\u00f9 s\u1ebd c\u00f3 c\u01a1 h\u1ed9i t\u1ed1t h\u01a1n \u1edf nh\u1eefng khu v\u1ef1c ngo\u00e0i th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu.<\/p>\n

L\u01b0u \u00fd<\/font><\/h3>\n

– \u0110\u1ec3 qu\u1ea3n l\u00ed danh m\u1ee5c \u0111\u1ea7u t\u01b0 theo chi\u1ebfn l\u01b0\u1ee3c\u00a0ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu, nh\u00e0 qu\u1ea3n l\u00ed s\u1ebd ph\u1ea3i x\u00e1c \u0111\u1ecbnh ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu n\u00e0o s\u1ebd d\u00f9ng \u0111\u1ec3 b\u1eaft ch\u01b0\u1edbc. Tr\u00ean th\u1ecb tr\u01b0\u1eddng c\u00f3 r\u1ea5t nhi\u1ec1u ch\u1ec9 s\u1ed1 \u0111\u1ec3 l\u1ef1a ch\u1ecdn.<\/p>\n

– S\u1ef1 l\u1ef1a ch\u1ecdn\u00a0ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu\u00a0s\u1ebd ph\u1ee5 thu\u1ed9c v\u00e0o:<\/p>\n

(1) S\u1ef1 ch\u1ea5p nh\u1eadn r\u1ee7i ro c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0<\/p>\n

V\u00ed d\u1ee5 s\u1ef1 l\u1ef1a ch\u1ecdn ch\u1ec9 s\u1ed1 c\u00f3 bao g\u1ed3m tr\u00e1i phi\u1ebfu c\u00f4ng ty s\u1ebd ti\u1ec1m \u1ea9n r\u1ee7i ro t\u00edn d\u1ee5ng. N\u1ebfu r\u1ee7i ro n\u00e0y kh\u00f4ng th\u1ec3 ch\u1ea5p nh\u1eadn th\u00ec nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd tr\u00e1nh ch\u1ec9 s\u1ed1 trong khu v\u1ef1c n\u00e0y.<\/p>\n

(2) M\u1ee5c ti\u00eau c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0<\/p>\n

V\u00ed d\u1ee5, t\u1ec9 l\u1ec7 l\u1ee3i t\u1ee9c c\u1ee7a c\u00e1c ch\u1ec9 s\u1ed1 kh\u00e1 \u0111\u1ed3ng \u0111\u1ec1u, song s\u1ef1 bi\u1ebfn \u0111\u1ed9ng v\u1ec1 l\u1ee3i t\u1ee9c l\u1ea1i kh\u00e1c nhau khi c\u00f3 s\u1ef1 bi\u1ebfn \u0111\u1ed9ng v\u1ec1 l\u00e3i su\u1ea5t. Do v\u1eady, nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1edbi m\u1ee5c ti\u00eau t\u1ed1i thi\u1ec3u s\u1ef1 bi\u1ebfn \u0111\u1ed9ng t\u1ec9 l\u1ec7 l\u1ee3i t\u1ee9c th\u00ec c\u1ea7n ph\u1ea3i \u0111\u1ea7u t\u01b0 d\u1ef1a theo c\u00e1c ch\u1ec9 s\u1ed1 c\u00f3 th\u1eddi gian \u0111\u00e1o h\u1ea1n trung b\u00ecnh (duration) r\u1ea5t ng\u1eafn.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: Gi\u00e1o tr\u00ecnh Ph\u00e2n t\u00edch \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n, NXB \u0110\u1ea1i h\u1ecdc Kinh t\u1ebf Qu\u1ed1c d\u00e2n)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Chi\u1ebfn l\u01b0\u1ee3c ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu (ti\u1ebfng Anh: Pure bond index strategy) c\u00f3 ngh\u0129a l\u00e0 thi\u1ebft k\u1ebf m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 sao cho k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p v\u1edbi k\u1ebft qu\u1ea3 \u0111\u1ea7u t\u01b0 c\u1ee7a m\u1ed9t ch\u1ec9 s\u1ed1 tr\u00e1i phi\u1ebfu n\u00e0o \u0111\u00f3.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31493"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=31493"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31493\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}