Approaching the end of the year, a number of wealth management companies set off another rate "** war". According to incomplete statistics from the reporter of China ** Daily and China Securities Taurus, since December, a number of wealth management companies such as Bank of Communications Wealth Management, CMB Wealth Management, CNCBI Wealth Management, and Everbright Wealth Management have issued rate adjustment announcements, and some companies have directly reduced the rates of some products to 0%.
The reporter learned from the investigation that this round of rate adjustment of wealth management companies mainly involves fixed management fees, sales service fees, excess performance remuneration, etc., and the scope of the reduction covers a variety of product types such as fixed income, cash management, and equity, and the rate concessions are mostly phased arrangements.
For example, CMB Wealth Management issued an announcement on the rate adjustment of a number of wealth management products on December 19. Among them, the sales service fee of "Zhaoying Rijin No. 16" cash management products will be reduced to 0% from December 20 to December 21;The fixed management fee of the "Zhaorui Zhuoyuan Stable Two-Year Fixed Income No. 3 Enhanced Fixed Income Wealth Management Plan" will be increased from 03% to 0%.
At present, we have a number of products that are carrying out phased rate discounts, and the activity intensity is still relatively large, mainly low-risk products, and you can seize the time to allocate a part. The financial manager of a business outlet of China Merchants Bank in Beijing introduced to reporters.
In addition, some companies have launched a model of "no management fee for breaking the net". According to the announcement of a hybrid product previously launched by IB Wealth Management, "within one year from the date of establishment of the product, when the cumulative net unit value of the wealth management product on the day before the valuation date is less than 1, no investment management fee will be charged on the valuation date".
In this regard, a number of industry insiders told reporters that reducing the rate of wealth management products is conducive to improving the relative attractiveness of wealth management products and helping wealth management companies expand the scale and market share of wealth management products.
Xue Hongyan, vice president of Xingtu Financial Research Institute, said: "The intensive fee reduction of wealth management companies is a short-term operation method, which helps to enhance the market competitiveness of products, and is also in response to the policy guidance of the regulatory authorities on fee reductions for asset management products and concessions to investors. ”
However, some industry insiders pointed out that the rate "war" is not a long-term solution, and it is not the only consideration for customers to choose wealth management products. And blindly fighting the "best war" may lead to the company's profit margin being compressed, affecting the company's long-term development. Wealth management companies still need to focus on the diversification and differentiation of products and services, focus on improving investment and research capabilities, effectively manage risks, and launch more market-competitive products.