1. Financial dynamic tracking
Industry dynamics
Financial performance: financial performance of financial subsidiaries of seven listed banks
Financial management: face up to short-term fluctuations and pay attention to balanced allocation
The first batch of four pilot institutions for pension and financial management: they have been sold in ten cities, and some products have been settled in advance
Company dynamics
Everbright financial management: launch the "first shot" of financial management self purchase
Industrial Bank Co.Ltd(601166) 2022 target: the scale of financial consignment of small and medium-sized banks exceeds 100 billion yuan
Research trends: the number of financial research of CMB ranked first last week
2. Net worth financial products
Operation mode
Closed net worth accounts for the largest proportion
Net worth products are mainly closed net worth products. As of December 31, 2021, the number of existing closed-end net worth products accounted for 62.66%.
Risk level
Risk appetite gradually decreases
The risk appetite of net worth products is generally low, mainly secondary and tertiary. As of December 31, 2021, the sum of secondary and tertiary products accounted for 95.02% of net worth surviving products.
Nature of investment
Fixed income accounts for the largest proportion
Net worth products are mainly fixed income products. As of December 31, 2021, fixed income accounted for 91.69% of net worth surviving products; Equity class and mixed class accounted for 0.67% and 7.89% respectively.
Term structure
Mainly long-term products
The investment period of net worth products is mainly more than 3 months. As of December 31, 2021, among the net worth existing products, products with a period of more than 3 months account for 86.25%.
3. Issuing market
Among the 201 financial products issued in the fourth week of March 2022, 0 are Principal Guaranteed Fixed products;
There are 5 breakeven floating products, accounting for 2.49% of the market; There are 196 non breakeven products, accounting for 97.51% of the market.
Compared with the previous week, the proportion of Principal Guaranteed floating products increased, the proportion of non principal guaranteed products decreased, and the proportion of Principal Guaranteed Fixed products remained zero.
The total number of financial products issued in the fourth week of March 2022 was 201;
The circulation of products within three months was 7, accounting for 3.49%, down from the previous week;
The circulation of products in 3-12 months was 103, accounting for 51.25%, an increase over the previous week;
The circulation of products over one year was 83, accounting for 41.30%, up from the previous week.
4. Maturity market conditions
The total number of financial products due in the fourth week of March was 590, a decrease of 3.44% over the previous week.
The proportion of non principal guaranteed products increased, and the proportion of expired products of other types decreased.
Among all expired products, non Principal Guaranteed expired products account for the largest proportion. 2 Principal Guaranteed Fixed maturity products, accounting for 0.34%; 19 Principal Guaranteed floating maturity products, accounting for 3.22%; Non Principal Guaranteed expired products accounted for 96.44%.
5. Financial income
Trend in recent years: affected by the new regulations of asset management, the yield of financial products in the whole market has been declining in recent years since 2017;
Since 2017, bank financial products have been subject to strict supervision, capital has tightened, and non-standard assets have been limited;
The regulatory requirements are superimposed on the risk-free interest rate. Under the background of the decline of the risk-free interest rate, the yield of bank financial management is reduced, especially for fixed income.
6 Financial sub products
Financial sub dimension
By the end of 2021, there were 6020 existing products of TOP10 financial management subsidiary, accounting for 72.78%. Among them, ICBC wealth management, BOC wealth management and CCB wealth management products ranked in the top three, with 1607, 888 and 853 respectively.
Product dimension
By the end of 2021, the investment period of financial products issued by TOP10 financial sub group is mainly 12-24 months and more than 24 months, with 1942 and 3268 respectively;
In terms of operation mode, it is mainly closed net worth type. There are 4783 closed net worth products of TOP10 wealth management sub branch, accounting for 50.05%;
The underlying assets are mainly bonds, with 6697 bond products issued by TOP10 financial management sub branch, accounting for 24.15%.
Risk tips
The decline of economic growth exceeded expectations, resulting in the deterioration of asset quality; The acceleration of bank financial management transformation may impact the capital adequacy ratio and profit; Financial regulatory policies exceeded expectations.
