The ups and downs of 2021 have come to an end. With the disclosure of the annual reports of major securities companies in China, what was the record of asset management of securities companies last year?
Among the securities companies that have disclosed the annual report, the income of asset management business is positive, but there are still great differences in the scale of different securities companies. The income of asset management business in Citic Securities Company Limited(600030) , Gf Securities Co.Ltd(000776) 2021 exceeded 10 billion, and the leading position of the industry is stable. Specific to a single asset management product, the income is "ice and fire", and the annual loss of some products is more than 70%.
What are the specific benefits? The financial Associated Press reporter sorted out and checked the performance data related to asset management of securities companies in 2021.
has obvious profit making effect, and the income of asset management business of 15 securities companies exceeds 1 billion
According to choice data, a total of 15 securities companies earned more than 1 billion yuan in asset management business last year, including mainly head securities companies and small and medium-sized securities companies. The top 20 among the top 20 in terms of revenue from the business that comes from the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the ranks of the top 20 of the ranks of the top 20 of the ranks of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the list of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the top 20 of the list of the top 20 of the list of the top (RMB 2.162 billion), Everbright Securities Company Limited(601788) (RMB 1.987 billion), China Securities Co.Ltd(601066) (RMB 1.789 billion), China Merchants Securities Co.Ltd(600999) (RMB 1.736 billion), Shenwan Hongyuan Group Co.Ltd(000166) (RMB 1.479 billion), Sealand Securities Co.Ltd(000750) (RMB 1.479 billion) China International Capital Corporation Limited(601995) (RMB 1.415 billion), Tianfeng Securities Co.Ltd(601162) (RMB 1.096 billion), First Capital Securities Co.Ltd(002797) (RMB 1.088 billion).
It is worth noting that the asset management income of securities companies also includes part of the income of their public fund companies. For example, Citic Securities Company Limited(600030) consolidated asset management income includes the contribution of Huaxia Fund. In 2021, Huaxia Fund ( Citic Securities Company Limited(600030) 62.2% shareholding) achieved an operating income of RMB 8.015 billion, a year-on-year increase of 45%, making a great contribution to the growth of Citic Securities Company Limited(600030) asset management business.
The same is true of Guangfa asset management. The company consolidates Guangfa fund. In 2021, GF realized an operating income of 9.346 billion yuan, which made a great contribution to the asset management income of Gf Securities Co.Ltd(000776) . From the perspective of the whole industry, there are not a few securities companies that consolidate the statements of holding fund companies. The fund industry has developed greatly in recent two years and made a great contribution to income.
As of April 17, 2022, the number of existing securities companies' collective financial products was 7773, while as of December 31, 2021, the number of securities companies' collective financial products was 6185, a slight increase.
From January 2022 to January 2022, the fastest growing number of products on record since January 2022, the fastest growing number of products on record since January 2022, the fastest growing number of products on record since January 2022. From January 2022 to January 2022, the fastest growing number of products on record from January 2022, the fastest growing number of products on record since January 2022, the fastest growing number of products on record since January 2022, the fastest growing number of products on record since January 2022, the fastest growing number of products on record are respectively: Venture Capital Securities (50), venture capital securities (50), '600venture' Shenyang Commercial City Co.Ltd(600306) 0030 30 (20), Everbright asset management (20), CAITONG asset management (20), Huaxin securities (19), Guojun asset management (18) Sinolink Securities Co.Ltd(600109) (14), Huafu securities (14), Huaan Securities Co.Ltd(600909) (14), China Merchants asset management (13), Soochow Securities Co.Ltd(601555) (13).
In terms of product types, from the perspective of the total number and share of asset management of newly established securities companies, according to the statistical data of choice, as of April 17, 2022, the number of asset management plans of newly established securities companies this year is 637. Although it has increased quarter on quarter, the scale is still relatively low. From the perspective of structure, mixed type, bond type and alternative investment type account for 9.19%, 88.28% and 0.77% respectively.
Since 2017, the proportion of securities companies in the allocation of non-standard assets has increased, especially in the allocation of securities and bonds, which have a strong proportion in the standard assets. At present, the bond investment of securities companies' collective plan is maintained at about 60%, and the proportion of bond asset allocation is higher in the period of large downward range of yield. According to the 2020 annual report, the proportion of securities companies' collective plan to bond allocation is 60%, the proportion of stock allocation is 10.4%, and the proportion of non-standard asset allocation is only 12.9%.
Comparing the filing data of asset management products of securities companies in 2021, the overall competition pattern can also be seen from the distribution of product quantity. The top 20 securities companies with product filing in 2021 are GF asset management (820), Changjiang Securities Company Limited(000783) (205), China International Capital Corporation Limited(601995) (172), Citic Securities Company Limited(600030) (163), Dongzheng Ronghui (157), CAITONG asset management (135), Yinhe Jinhui (101), Huaxin securities (98), Everbright asset management (93), China Merchants asset management (91) Guojun asset management (82), China Securities Co.Ltd(601066) (80), capital securities (79), Tianfeng asset management (67), century securities (65), Zheshang asset management (64), Shenwan Hongyuan Group Co.Ltd(000166) (61), Founder Securities Co.Ltd(601901) (59), Huatai asset management (59), Huaan Securities Co.Ltd(600909) (58).
In 2021, the total number of products recorded was 3828, and 2709 of the top 20 securities companies recorded products. That is to say, the top 20 securities companies accounted for nearly 70% of the product records, of which the number of Guangfa asset management products ranked first accounted for 21%.
At the same time, it can also be seen that under the active management transformation, the management scale of securities companies has achieved restorative growth, and the month on month growth rate has become positive. Among them, the overall growth rate of head securities companies is faster with excellent active management ability, but the total number of new issues is still low.
asset management product revenue inventory, strategic placement product revenue leading
After sorting out the income data for the whole year of 2021 and excluding the class B shares held by self owned funds, the products at the top of the income ranking are mainly customized war matching products of the science and innovation board and the gem, which have brought huge profits to the participants.
Among them, the highest earning ability is the "strategic placement of China Merchants Asset Management Zhuzhou Huarui Precision Cutting Tools.Co.Ltd(688059) science and Innovation Board" with China Merchants asset management as the manager, with an annual return of 302.85% in 2021.
The product was established in November 2020 with a total scale of 160 million yuan. It is only participated by senior executives and core employees of the company. The funds are used for the strategic placement of Zhuzhou Huarui Precision Cutting Tools.Co.Ltd(688059) ( Zhuzhou Huarui Precision Cutting Tools.Co.Ltd(688059) . SH) IPO.
The second place is the "strategic placement of Guoxin Dingxin No. 8 gem" with Guosen Securities Co.Ltd(002736) the annual return of 299.53%.
The annual yield of "Xinda Wuxi Autowell Technology Co.Ltd(688516) 1" with Xinda securities as the manager in the third place reached 231.95%. Similarly, "Xinda Wuxi Autowell Technology Co.Ltd(688516) 1", established at the same time as early as December 2019, is a customized war matching product for Wuxi Autowell Technology Co.Ltd(688516) ( Wuxi Autowell Technology Co.Ltd(688516) . SH) executives and core employees, with a scale of 68 million yuan. In May 2020, Wuxi Autowell Technology Co.Ltd(688516) successfully landed on the science and innovation board, and the stock price continued to hover between 50 yuan and 90 yuan after listing.
In addition, "Guoxin Dingxin No. 2 strategic placement on the science and Innovation Board", "Xinda Wuxi Autowell Technology Co.Ltd(688516) 2", "founder Xinke No. 2", "Guoxin Jinpeng grading No. 1", Guoxin Dingxin No. 5 strategic placement on the growth enterprise board "," Guoxin Dingxin No. 10 strategic placement on the science and Innovation Board "and" Minsheng securities Qitian Technology Group Co.Ltd(300061) No. 1 "all have a yield of more than 120%.
However, there is no lack of head securities companies in the asset management products of "professional loss". Among the products with negative annual rate of return, among the top 10 products with income, Zhongshan securities is the manager's "Zhongshan robust income sub-A (2016)", and the return since 2021 is -81.86% Bottom The Pacific Securities Co.Ltd(601099) securities is the manager's " The Pacific Securities Co.Ltd(601099) Hongshanhu Fuhua No. 1", with a return of - 59.26% since 2021.
" Citic Securities Company Limited(600030) Xinhang Zhiyuan No. 1" with Citic Securities Company Limited(600030) as the manager ranked third from the bottom in 2021 with a revenue of - 38.77%. Among the products ranked in the bottom 10, Citic Securities Company Limited(600030) a total of four asset management products ranked among them. " Citic Securities Company Limited(600030) Shanghai Hong Kong Shenzhen Xinghuo No. 1", " Citic Securities Company Limited(600030) Shanghai Hong Kong Shenzhen No. 1" and " Citic Securities Company Limited(600030) Shanghai Hong Kong Shenzhen No. 6" earned - 31.72%, - 28.35% and - 26.58% respectively. In 2021, the Shanghai stock index rose or fell by 4.8%, and the income of Shanghai and Shenzhen 300 in the same period was - 3.1%.
wealth management structure changes, and the asset management business of securities companies has a long way to go under the "inflection point" of scale
In the context of the changing situation of the real estate industry, the breaking of the rigid exchange of trusts, the implementation of new asset management regulations and the net worth management of products, the process of residents' wealth from investment real estate and non-standard financial management to standardized net worth financial products is still continuing.
After the implementation of the new regulations on asset management, the overall management scale of asset management of securities companies was reduced to 8.24 trillion yuan, and seeking public fund license has become the focus of the transformation of asset management companies of securities companies.
The scale of asset management of securities companies has become an "inflection point", and the transformation trend of public offering is obvious. Securities companies have the advantage of asset side enterprise resources; At the same time, the strategy side has the advantages of research driven, OTC options and other derivatives trading qualifications and convenient Multi Strategy Research and development; Product diversification can better meet the individual investment needs of customers at all levels. Compared with banks and third-party institutions, there is no obvious short board, which is expected to become a major engine for the revenue growth of securities companies.
The asset management business of securities companies carries the hope of wealth management transformation of securities companies, but it still needs time to precipitate to accumulate customer base and customer trust. There is a long way to go.
