The Spring Festival is approaching soon, and "workers" should collect this financial strategy. On February 4, a reporter from Beijing Business Daily noticed that recently, a number of banks and wealth management companies have launched "Spring Festival files" wealth management products to attract the attention of investors. This year's Spring Festival wealth management products are mainly low-volatility and stable, with low product risk levels, short-term investment periods, and fixed-income products. As for the reason why wealth management companies mainly promote low-volatility and stable products, some wealth management managers said that since the "net tide", wealth management companies have focused on stability in marketing. For investors, many products have a short fundraising period before their establishment, and they need to grasp the time of interest accrual to avoid the problem of capital standing guard.
The Spring Festival stalls "focus on low volatility and stability.
The Spring Festival is approaching, and many banks and wealth management companies have launched relevant marketing activities this year. On February 4, a reporter from Beijing Business Daily noticed that most of this year's "Spring Festival" wealth management products are mainly low-volatility and stable, with low product risk levels, mainly fixed income products.
From the perspective of income performance, the income performance of the wealth management products launched by the "Spring Festival stalls" has risen compared with ordinary products. Taking the "Fuzhu Fixed Income Peace of Mind 9-Month Closed No. 8" product on sale by Minsheng Wealth Management as an example, the sales period of the product is from January 31 to February 5 before 17:00, the risk level is low risk (level 2), the product type is fixed income, non-principal guaranteed floating income, the minimum purchase is 1 yuan, and the performance comparison benchmark is 32%—3.4%。According to China's wealth management network, compared with the No. 5, No. 6 and No. 7 of the same series, the performance benchmark of this product has risen by about 02 percentage points.
In addition, the yield of short-term wealth management products is also relatively gold-absorbing, and the "Yueyue Xin Wenli No. 8 A" launched by SPDB Wealth Management has an annualized rate of return of 4 since its establishment75%。However, it should be noted that the performance benchmark is the investment target set by the wealth management company based on the product nature, investment strategy, past experience and other factors, and the performance benchmark is not the expected rate of return, does not represent the future performance and actual income of the product, and does not constitute a commitment to the product return.
Regarding the reason why wealth management companies mainly promote low-wave and stable products, some financial managers said that since the "net tide" of wealth management products in 2022, in order to boost investor confidence, many wealth management companies have begun to adjust their strategies, no longer recommending exclusive wealth management products by playing the "festival card", but putting the marketing keywords on low-wave and stable, and constantly catering to investors' needs for stable income.
Liu Yinping, an analyst at Rong 360 Digital Technology Research Institute, pointed out that due to the domestic investment environment, residents' investment styles tend to be conservative, especially in the past two years, the net value of wealth management products has experienced multiple rounds of fluctuations, and investors have higher requirements for stable net value fluctuations; Before the Spring Festival, residents' short-term wealth management needs are high, combined with investors' risk appetite and liquidity needs, banks and wealth management companies launched wealth management products before the Spring Festival are also mostly short- and medium-term, stable wealth management products.
Pay attention to the fundraising period and avoid standing guard with funds.
From the perspective of the strategy of wealth management companies, most of the low-volatility and stable products are a combination of market value method valuation and amortized cost method valuation, and through the amortized cost method, the maturity income of the assets invested by wealth management product funds is evenly distributed to each day through the amortization method, so as to make the net value curve of the product smoother, which not only ensures the stability of the overall net value fluctuation, but also obtains capital gains through swing timing operation to thicken product income.
Although safety and stability are the focus of investors' attention, it is also worth paying attention to avoid capital standing guard through pre-holiday planning. Among them, it is necessary to mention the category of wealth management products, cash management wealth management products have good liquidity, and the redemption funds arrive in the account for a short time.
The disadvantage of closed-end wealth management products is that they have poor liquidity, and they cannot be withdrawn after the establishment of closed-end products until they expire. In the course of the investigation, a reporter from Beijing Business Daily found that the holding period of closed-end wealth management products with relatively high income performance is usually more than six months to more than one year, and some wealth management products have a holding period of two or three years.
For the case of a long holding period, in the process of visiting the outlets, a financial manager said, "During the closed period, investors cannot redeem the product shares in advance, and the product will automatically expire and redeem after the closed period, so investors do not have to worry." It is recommended that idle funds that have not been used for a long time can be used to purchase closed-end wealth management products".
In addition, many products have a short fundraising period before the establishment, the fundraising period of wealth management products on the eve of the holiday is usually as long as about 10 days, and the interest calculation date is the first day after the holiday or a few days after the start of interest.
The trading rules and offering period of different wealth management products are different. Liu Yinping further pointed out that for cash management products, daily opening wealth management products, basically T+1 trading mechanism, investors want to enjoy the benefits of the Spring Festival holiday, need to buy before the end of the afternoon trading session on February 7, for fixed, fixed opening wealth management products, investors need to understand the product's fundraising period, income start calculation date, open period, etc.
The wealth management market is expected to stabilize and rebound.
2023 is the "year of repair" for bank wealth management, which has experienced the haze of "breaking the net tide", and the scale of the wealth management market has rebounded significantly. On February 2, China Wealth Management Network released the "Annual Report on China's Banking Wealth Management Market (2023)" (hereinafter referred to as the "Report"), which shows that as of the end of 2023, the scale of the bank wealth management market is 268 trillion yuan, a total of 3 new wealth management products throughout the year110,000, raising 5708 trillion yuan, the number of investors in wealth management products increased to 11.4 billion.
In terms of investment income, the report shows that 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%。
Looking forward to 2024, Dong Ximiao, chief researcher of Zhaolian, pointed out that with the stabilization of China's financial market, the change of investors' risk appetite and the improvement of the capabilities of banks and wealth management companies, the bank wealth management market is expected to get out of the trough of the previous two years in 2024, showing a trend of promoting stability and seeking progress while maintaining stability. From the perspective of wealth management scale, the balance of wealth management products is expected to increase from nearly 27 trillion yuan in 2023 to 29 trillion yuan; From the perspective of the number of investors, wealth management investors are expected to continue to maintain steady growth after exceeding 100 million.
In 2024, the wealth management market will also face new patterns, new changes and new trends. In Liu Yinping's view, in the financial products, the overall investment style of bank wealth management products is relatively stable, the product income fluctuations are small, and it is still the main optional object of public wealth management, especially in the context of the continuous low deposit interest rate and the continued downturn, the investment advantages of bank wealth management are highlighted, and the scale may return to the level before the "net tide" in 2024, but it also depends on the ability of the bank to resist risks. The growth of wealth management products will also encounter obstacles.
When it comes to the next step of asset allocation, a number of wealth management companies have pointed out in an interview with a reporter from Beijing Business Daily that they will change to a large asset allocation system such as "fixed income, equity, derivatives, alternatives, equity, and cross-border" to increase the long-term proportion of equity assets; Directly participate in the convertible bonds, private placement, pledge financing and other businesses of listed companies and local high-quality state-owned enterprises, and improve the quality and efficiency of bank wealth management services for enterprises in the real economy.
Beijing Business Daily reporter Song Yitong.