On February 2, the Banking Wealth Management Registration and Custody Center released the Annual Report on China's Banking Wealth Management Market (2023). As of the end of 2023, the scale of the bank wealth management market is 2680 trillion yuan, with a total of 3 new wealth management products issued throughout the year110,000, raising 5708 trillion yuan, the number of investors in wealth management products increased to 11.4 billion, creating 698.1 billion yuan of income for investors.
and the scale of existence at the end of June 2023 is 25Compared with 34 trillion yuan, the scale of the bank wealth management market rebounded by 1 in the second half of last year46 trillion yuan. Looking forward to 2024, analysts said that in the context of the decline in bank deposit rates, the deposit substitution effect of wealth management products is gradually significant, or bring new opportunities for scale growth.
The asset allocation is mainly fixed income.
According to the data, in 2023, a total of 228 banking institutions and 31 wealth management companies across the country will issue a total of 3110,000, with a total of 57 raised08 trillion yuan. As of the end of 2023, a total of 258 banking institutions and 31 wealth management companies across the country have existing wealth management products, and the existing products are 3980,000, an increase of 14 from the beginning of the year86%；The scale of existence is 2680 trillion yuan.
In terms of the type of institutions, as of the end of 2023, wealth management companies have the largest number and amount of existing products, and the number of existing products is only 1940,000, with a survival scale of 2247 trillion yuan, an increase of 1 from the beginning of the year01%, accounting for 83 percent of the total market85%。
In terms of product types, as of the end of 2023, the scale of fixed income products will be 2582 trillion yuan, accounting for 96 percent of the total scale of wealth management products34%, an increase of 1 from the beginning of the year84 percentage points; The scale of hybrid products is 086 trillion yuan, accounting for 321%, a decrease of 1 from the beginning of the year89 percentage points; The scale of equity products and commodities and financial derivatives products is relatively small, at 008 trillion yuan and 004 trillion yuan.
From the perspective of product investment, the asset allocation of wealth management products is mainly fixed income, and the balance of bonds, non-standardized creditor's rights and equity assets is 1645 trillion yuan, 179 trillion yuan, 083 trillion yuan, accounting for the total investment assets. 86%。
The number of investors is growing rapidly.
In 2023, the number of wealth management investors will continue to grow. As of the end of 2023, the number of investors holding wealth management products reached 11.4 billion, a year-on-year increase of 1784%。Among them, the number of individual investors increased by 1,686290,000, an increase of 38 institutional investors650,000.
In 2023, the overall income of wealth management products will be stable, creating a total of 698.1 billion yuan of income for investors. Among them, banking institutions have created a total of 173.9 billion yuan of income for investors; Wealth management companies have created a total of 524.2 billion yuan of income for investors, a year-on-year increase of 085%。In each month of 2023, the average rate of return of wealth management products will be 294%。
In terms of sales channels, in 2023, wealth management companies will continue to expand distribution channels other than their parent banks, and the proportion of sales amount of parent banks will continue to decline. Among the 31 wealth management companies that have opened, 3 wealth management products are only sold by the parent bank, and 28 wealth management companies have opened up the distribution channels of other banks in addition to the distribution of wealth management products by the parent bank. In addition, 17 wealth management companies have carried out direct sales business, with a cumulative direct sales amount of 026 trillion yuan. As of the end of 2023, 491 institutions in the market have sold wealth management products issued by wealth management companies, an increase of 163 from the beginning of the year.
The scale is on the rise.
The reporter combed and found that the scale of existence at the end of June 2023 was 25Compared with 34 trillion yuan, the scale of the bank wealth management market will rebound by 1 in the second half of 202346 trillion yuan.
However, this failed to change the leading edge of the public offering**. According to data from the industry association, as of the end of June 2023 and the end of December 2023, the net asset value of the public offering ** was 2769 trillion yuan and 2760 trillion yuan.
Looking forward to 2024, Liu Yu, chief fixed income analyst of GF**, said that in the context of declining bank deposit rates, the deposit substitution effect of wealth management products is gradually significant, which may bring new opportunities for scale growth.
Editor-in-charge: Ren Haopeng |Review: Li Zhen |Supervisor: Wan Junwei.
*: China ** newspaper).