21st Century Business Herald reporter Li Yi reports from Beijing recently, BlackRock CCB, the first pilot joint venture of pension finance, announced that its first pension finance product has obtained product code and will be issued in Guangzhou and Chengdu. It is a mixed net value product with an investment period of 10 years.
In February this year, the China Banking and Insurance Regulatory Commission issued the notice on the pilot of pension financial products carried out by BlackRock Jianxin financial Co., Ltd., which said that BlackRock group is the largest professional pension management organization in the world, has long-term pension management practice and can provide international good experience, and required BlackRock Jianxin to carry out the pilot in a stable and orderly manner, and do a good job in product design, risk management, sales management Information disclosure and investor protection to ensure prudent and compliant exhibition and hold the bottom line of risk.
On April 15, Wang Chaodi, chief inspector and director of the general office of the China Banking and Insurance Regulatory Commission, introduced at the press conference of the state information office a few days ago that since the pilot of pension financial products, the relevant work has progressed smoothly and the overall operation is stable. So far, 16 pension financial products have been successfully sold, and 165000 investors have subscribed for 42 billion yuan, of which more than 70% are investors over the age of 40 and more than 60% are investors under 200000 yuan.
China financial network shows that among the 16 pension financial products, only 5 are mixed net worth products, the other 11 are fixed income products, and the issuers of mixed products are Everbright financial.
What are the similarities and differences between BlackRock CCB’s first pension financial products and the above 16 pension financial products?
From the perspective of risk level, the fixed income category of the above 16 pension financial products is R2. BlackRock Jianxin’s first pension financial product is also R2. The company said that the financial product practices the principle of inclusiveness. It is a low-risk R2. It is purchased from RMB 1. There is no subscription fee and no excess performance reward, which is similar to other pension financial products.
From the perspective of term, the term of the above 16 pension financial products is 5 years, while the investment term of BlackRock CCB’s first pension financial product is 10 years, “reflecting BlackRock’s long-term investment philosophy needed to encourage pension investment all over the world.” The company said that after the product has been established for five years, cash dividends can be paid if the dividend conditions are met.
It is worth noting that according to the latest notice of the China Banking and Insurance Regulatory Commission, BlackRock Jianxin pension financial products can be sold in 10 pilot cities, but this time the products still choose to be issued only in Guangzhou and Chengdu, and are clearly sold to China Construction Bank Corporation(601939) customers holding ID cards in Guangzhou or Chengdu. This requirement is consistent with that of other pilot institutions.
From the perspective of product investment direction, the product will use the method of asset allocation of large categories to reasonably build the allocation combination of assets such as national debt, government financial bonds and risk assets, and use smoothing funds and other tools to properly control the fluctuation of product net value, reasonably balance the profitability and volatility of products, and strive to maintain and increase the value of assets. At the same time, in terms of venture asset investment, the product is allocated to A-share equity assets. Through a comprehensive analysis of fundamental information, investor sentiment and macro policy information, the product pursues long-term and sustainable excess income while strictly controlling risks and transaction costs.
“Through the long-term task of product innovation, participation in investor protection and investor education, we are committed to taking the concepts of risk return, long-term investment, asset allocation and pension finance into the hearts of investors, helping Chinese investors establish a more scientific investment concept and provide more rich and diverse innovative pension finance products under the background of bank finance transformation.” Qi Jiangong, chairman of BlackRock Jianxin financial management, said.
BlackRock Jianxin wealth management is registered in Shanghai. BlackRock owns 50.1% of the shares of the joint venture wealth management company, China Construction Bank Corporation(601939) through the wholly-owned wealth management subsidiary – Jianxin wealth management, 40% and Temasek 9.9%. The company obtained the pilot qualification of pension financing in January this year. It is the first joint venture financing company approved for the pilot of pension financing in China. The total scale of product raised funds in the pilot stage is limited to less than 10 billion yuan in advance.
