The bank financial management with a market scale of nearly 30 trillion yuan is facing the first big challenge after the net worth transformation.
Since March, a large area of net worth of bank financial products has retreated, among which the number of products falling below the face value is also increasing. According to the data released by China financial network, as of March 15, 2022, there were 1676 financial products with cumulative net value lower than face value, accounting for about 5% of the total amount of financial products in the duration.
The securities market in March was not stable, and both the stock market and the bond market experienced violent fluctuations, which was an important reason for the large-scale net worth withdrawal of the bank financial management market.
For the first time, 10 financial management companies issued a joint announcement that they are firmly optimistic about the long-term value of the capital market and should treat short-term fluctuations rationally.
the first big challenge in the era of net worth
At present, the rectification task of bank financial management business has been basically completed. Data show that by the end of last year, the balance of net worth financial products was 26.96 trillion yuan, accounting for 92.97%.
However, bank financial management, which has just preliminarily completed the comprehensive transformation of net worth, will face the new challenge of large-scale withdrawal.
ICBC, CCB, BOCOM, BOC, xingyin, Puyin, ningyin, Suyin, Nanyin and Huihua have begun to communicate with investors to dispel doubts about the fluctuation of net value and convey confidence in China’s securities market.
BOC wealth management said that after the new asset management regulations, most products must be valued by the market value method, and the net value needs to timely and truly reflect the impact of market fluctuations. Therefore, it seems that the fluctuation of product net value has become greater. However, the floating loss of short-term book does not mean that the product will eventually lose money. We should rationally treat the short-term net value fluctuation of the product and focus on the long-term perspective.
“The large-scale net worth withdrawal of bank financial products this time is mainly due to the fact that these products are mainly equipped with bonds and stock assets, with bond assets as the core. When stocks and bonds encounter a ‘double kill’, the net worth of financial products is bound to withdraw.” A person in charge of the research department of a large state-owned bank told reporters.
Bank Of China Limited(601988) financial management market 2021 annual report also confirms this point. By the end of last year, the total investment assets of financial products were 31.19 trillion yuan, a year-on-year increase of 8.02%. The asset allocation of financial products is mainly fixed income, and the balance of investment in bonds, non standardized creditor’s rights and equity assets is 21.33 trillion yuan, 2.62 trillion yuan and 1.02 trillion yuan respectively.
From the perspective of the types of products impacted this time, there are not only fixed income and “fixed income +” varieties, but also mixed and stock long strategies are more seriously impacted.
chest thunder face like Pinghu
How to deal with this big challenge and do this “must answer” for investors? A number of bank financial management companies have passed on their confidence in China’s securities market.
Peace, not luxury; Danger, no fear; In a letter to investors, Huihua wealth management uses golden sentences from Sun Tzu’s art of war to inspire and inspire investors’ confidence.
“What is the confidence of having a thunderbolt in the chest and a face like Pinghu? This stems from the careful analysis of the market and the confidence in the sound development of China’s economy.” Huihua financial management said that confidence is more important than gold! The market will test the patience of holders in various ways. In the long run, every downward adjustment of the market will breed new investment opportunities.
Puyin financial management said that it deeply felt the firm determination of the government to stabilize growth. The 5.5% GDP target was at the upper limit of market expectations. The company had full confidence in the equity market.
financial management still needs further specialization
In the face of this retreat of the market, how to achieve more stable returns through more professional management has become the most concerned topic in the industry.
Accelerating customer stratification is considered to be a more clear and feasible choice after this round of adjustment. Dong ximiao, chief researcher of Zhaolian finance, said that we should pay attention to investor education and stratification. The fluctuation of bank financial net worth should be a normal response under extreme market conditions, but it does not necessarily meet the needs of low-risk customers. In the future, we need to consider more detailed customer needs and stratification. Financial institutions need to further improve their investment and research capabilities, balance the relationship between product robustness and profitability, and launch products with rich term and diversified risk levels.
Industry insiders believe that adhering to the idea of long-term investment and large asset allocation is a required course in the face of market fluctuations.
Huihua financial management said that the market assets rotate obviously and fluctuate greatly, and a single portfolio is difficult to provide investors with stable and smooth returns when the market is weak. Because only a reasonable asset allocation plan can prepare enough patience and good attitude when the market goes down. At the same time, we also need to avoid short-term investment and adhere to long-term investment. “Time will eventually stand on your side”.
Everbright financial sunshine orange earnings steady series management team said that in the future, it will pay attention to further improve the proportion of stable income assets and improve the product safety cushion as much as possible. At the same time, we will carefully adjust the equity assets. On the one hand, we will have confidence in the long-term return of the stock market, on the other hand, we will closely follow the market and strengthen the grasp of the band; Further balance Multi Strategy asset positions, and adhere to long-term, correct and effective arrangements.
