In the current fund consignment market, securities companies, banks and independent fund sales institutions are three pillars. In the first quarter of this year, affected by the intensification of market shock, the downturn of new fund development, the decline of fund net value and other factors, the holding scale of institutional consignment funds also decreased. However, due to the adjustment of the statistical caliber of fund consignment, the pattern of fund consignment has changed, and the two holding scales of securities companies have increased against the trend, both exceeding 1.1 trillion yuan; The scale of banks and independent fund sales institutions has “shrunk”.
Meanwhile, Huatai Securities Co.Ltd(601688) surpassed Citic Securities Company Limited(600030) for the first time among the securities companies of the agency selling on a commission basis and became the “first brother of the new securities companies selling on a commission basis”.
two scale securities companies
increased by more than 20%
In the first quarter, the shock of A-share market intensified, and the Shanghai stock index fell by 10.65%. According to the data, according to the fund establishment date, 386 new funds were issued, with a share of 273829 billion, a year-on-year decrease of 8.75% and 74.36% respectively.
In the above context, the scale of fund consignment has also decreased. Recently, the list of the top 100 sales holding scale of public funds issued by the China Foundation Association shows that in the first quarter, the total holding scale of “stocks + mixed public funds” was 5.9087 trillion yuan, down 8.55% month on month; The total number of “non money market public funds” was 7.8841 trillion yuan, down 5.31% month on month.
At the same time, the competition pattern of consignment fund institutions is further highlighted. The reporter of Securities Daily combed the list of the top 100 fund consignment sales. In the first quarter, securities companies accounted for 51, an increase of 5 compared with the fourth quarter of last year; Banks accounted for 26, down 5 from the fourth quarter of last year; There are 21 independent fund sales institutions and 2 insurance and agency institutions, and the number has not changed.
Among them, seven securities companies have been added, including Huabao securities, First Capital Securities Co.Ltd(002797) , Minsheng securities, Southwest Securities Co.Ltd(600369) , China International Capital Corporation Limited(601995) , Western Securities Co.Ltd(002673) , and YueKai securities. Last year’s Caitong Securities Co.Ltd(601108) , Guodu securities were not listed this quarter. The number of banks decreased by 5, including Dongguan bank, Zhuhai China Resources Bank, Bank Of Changsha Co.Ltd(601577) , Dongguan Rural Commercial Bank and Standard Chartered Bank (China).
In the “holding scale of stocks + mixed public funds” on the top 100 list, in the first quarter, the holding scale of securities companies totaled 1.1366 trillion yuan, an increase of 21.02% month on month, and the proportion increased to 19.24%. The holding scale of securities companies increased by 19.4 billion yuan compared with the fourth quarter of last year. The total scale of bank ownership was 3.2469 trillion yuan, down 14.24% month on month, accounting for 54.95%; The total number of independent fund sales institutions was 1.4883 trillion yuan, down 12.62% month on month, accounting for 25.19%; The scale of insurance and agency institutions was 36.9 billion yuan, an increase of 4.5 billion yuan over the fourth quarter of last year.
In the “holding scale of non money market public funds”, in the first quarter, the holding scale of securities companies was 1.2473 trillion yuan, an increase of 22.8% month on month, and the proportion increased to 15.82%. The total scale of bank ownership was 3.8448 trillion yuan, accounting for 48.77%, a decrease of 550.4 billion yuan compared with the fourth quarter of last year. The scale of independent fund sales institutions was 2.7477 trillion yuan, accounting for 34.85%, a decrease of 129.2 billion yuan compared with the fourth quarter of last year. The scale of insurance and agency institutions was 44.3 billion yuan, an increase of 5.9 billion yuan over the fourth quarter of last year.
As for the reasons for the contrarian growth of the holding scale of securities companies selling on a commission basis, Xu Kang, head of the non bank group of Huachuang securities, said: “the main reason is the adjustment of the caliber of fund selling on a commission basis, and the net purchase of ETF funds in the secondary market is included in the holding scale. ETFs are mostly traded on the floor, and securities companies have more cooperation with fund companies, so the holding scale is large.”
Huatai Shouchao CITIC
Cheng securities company’s “agent sales brother”
In the first quarter, Huatai Securities Co.Ltd(601688) “stock + mixed public fund holding scale” and “non money market public fund holding scale” were 123 billion yuan and 131.6 billion yuan respectively, with a year-on-year increase of 44.71% and 41.2% respectively Citic Securities Company Limited(600030) the two ownership scales were 116.3 billion yuan and 131.6 billion yuan respectively, with a year-on-year increase of 10.97% and 13.64% respectively.
This is also the first time that Huatai Securities Co.Ltd(601688) “stock + mixed public fund holding scale” has surpassed Citic Securities Company Limited(600030) , and has risen from 18th to 12th in the top 100 list in the fourth quarter of last year since the list was released for the first time last year; In the “retention scale of non money market public funds”, the retention scale of Huatai Securities Co.Ltd(601688) and Citic Securities Company Limited(600030) is 131.6 billion yuan. So far, Huatai Securities Co.Ltd(601688) has become the new “agent selling brother” of securities companies.
In the first quarter, Huatai Securities Co.Ltd(601688) achieved a net income of 979 million yuan from asset management business, with a year-on-year increase of 39.74%, which is the only business with positive growth among its five main businesses Guotai Junan Securities Co.Ltd(601211) Liu Xinqi, chief analyst of non bank financial industry, said: “In recent years, Huatai Securities Co.Ltd(601688) it investment has been continuously increased, and the enabling scope and depth of financial technology business have been continuously expanded. The monthly activity of Zhangle fortune for retail customers has steadily ranked first in the industry, and the platforms such as Xingzhi and securities lending for institutional customers have accelerated the development of institutional and securities lending business. It is expected that the company will rely on the advantages of financial technology to further enhance customer stickiness and improve business efficiency.”
It is noteworthy that in the first quarter, the institutions with the fastest month on month growth of retention scale came from securities companies, and the “stock + mixed public fund retention scale” of Boc International (China) Co.Ltd(601696) , Soochow Securities Co.Ltd(601555) , Dongguan securities increased by more than 100% month on month. Among them, Boc International (China) Co.Ltd(601696) the two ownership scales increased by 294.23% and 278.18% month on month.
Western Securities Co.Ltd(002673) non banking chief analyst Luo zuihui said: “market fluctuations and caliber adjustment affect the industry performance and competition pattern in the short term. The securities companies dominated by ETF have achieved double increases in ranking and scale; however, in the long run, the focus of securities companies in the future is still on the sales of fund investment advisers and private placement products.”
