December 7th;Since the official landing of the personal pension system in November last year, the number of personal pensions has continued to grow under the dual preferential policies of tax deferrals and rate discounts. According to the latest data disclosed by the China Securities Regulatory Commission, as of the end of September, the total number of personal pensions has reached 161, which is a significant increase compared with the initial stage.
At present, personal pension accounts can be invested in four types of products: public offerings, bank wealth management, commercial pension insurance and savings deposits. Among them, the FOF model has been widely used in personal pensions**. FOF not only invests, but also directly invests in bonds and bonds, and its final investment targets include but are not limited to domestic investment, domestic bonds, overseas bonds, overseas bonds, and commodities, etc., so the public offering FOF is more abundant in the choice of investment scope and strategic portfolio, and has unique advantages in the face of complex markets.
Wind data shows that as of November 3, the average annual return of pension FOF established before 2023 was 4 52, and the partial stock hybrid ** index fell by 11 69 in the same periodThe average maximum drawdown of pension FOF this year is 9 69 and the average volatility is 6 70, which are far lower than the maximum drawdown and annualized volatility of the mixed ** index of partial stocks 38.
Jiang Hua, head of the Jianxin ** pension FOF team, believes that there is a difference between the needs of pension investment customers and the needs of traditional public offering customers, and the key to the further healthy development of personal pension ** lies in whether the pension FOF products can create market-recognized products around long-term and stable pension needs. CCB**'s FOF investment framework is mainly developed around three levels. The first is to deepen the allocation of large types of assets, from a medium and long-term perspective, combined with historical data and trend outlook, to design a product risk level that meets the needs of investors, and flexibly adjust according to the asset allocation judgment in the investment process**. The second is to improve the effectiveness of meso-allocation, and on the premise of clarifying the overall market style and investment theme, track the prosperity of the industry from specific indicators such as industry supply and demand, competition pattern, etc., and confirm it with the macro style. The third is the effective combination of qualitative and quantitative, CCB's FOF team adheres to the quantitative analysis as the basis and the manager as the core, comprehensively evaluates from the five dimensions of position style and operation change, and strengthens the whole process management of in-depth research in advance, benchmarking observation in the event, and attribution summary after the event, covering the public offering of all categories.
After many iterations and continuous deep cultivation, CCB's **FOF team has built a relatively complete product line of pension FOF. There are not only CCB preferential series target risk products covering different risk appetites such as stability, balance and aggressiveness, but also CCB Puze series target date products that match mainstream retirement years such as matching, providing investors with rich and diversified pension investment options.
*:Internet.
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