Xinhua News Agency, Beijing, May 13 - Question: how to optimize the bank lower financial income asset allocation?

　　Xinhua News Agency reporter Zhang Qianqian

　　Since the beginning of this year, the bank ’s wealth management yield has not changed last year ’s downward trend, and it has continued to fall. However, medium and high-risk investment methods such as stocks and futures have not matched the needs of stable investors. How to optimize asset allocation? Experts recommend that stable investors extend their investment duration, diversify their allocation, and focus on wealth management products issued by wealth management subsidiaries.

　　According to data from Rong 360 Big Data Research Institute, the average yield of RMB unstructured wealth management products in April this year was 3.89%, a 7 basis point drop month-on-month, and four consecutive months of decline, the largest decline in nearly 17 months.

　　The profitability of "baby" wealth management products such as Yu'ebao also continued to decline. Tianhong Yu'ebao Fund's annualized return on the 7th fell after falling below 2% for the first time in early April, and has fallen to 1.654% on May 12. Statistics show that as of April 26, the average 7-year annualized return rate of "baby" wealth management products has fallen for 10 consecutive weeks.

　　Experts believe that the rate of return on wealth management products is related to the level of market liquidity. Since the beginning of this year, the People ’s Bank of China has lowered the deposit reserve ratio three times, releasing 1.75 trillion yuan of long-term funds and investing 1.7 trillion yuan of short-term liquidity after the Spring Festival. Since mid-March, the Shanghai Interbank Offered Rate (Shibor) overnight interest rate has repeatedly dropped below 1%, and it fell to 0.661% on April 29.

　　"Remaining reasonably abundant market liquidity has reduced the cost of bank funds and affected the yield of bank wealth management products." Dong Ximiao, a special researcher of the National Finance and Development Laboratory, believes that the current economy is facing downward pressure and the prices of major asset classes have generally declined It also made the yield of bank wealth management products decline.

　　The chief fixed income analyst of CITIC Securities clearly expects that, considering the marked decline in global economic growth, future bank wealth management and money fund yields will be relatively low.

　　Obviously, the past 4% or even 5% yield of wealth management products may be difficult to achieve in the future. Within their own risk tolerance, investors can start optimizing asset allocation from two aspects, one is to lengthen the investment duration, and the other is to diversify the allocation, and strive to achieve a balance between returns and risks.

　　In addition, experts suggest that in the selection of bank wealth management products, more attention can be paid to wealth management products issued by wealth management subsidiaries. "Unlike traditional public financing products of banks, public financing products issued by wealth management subsidiaries can directly invest in stocks. With the improvement of investment capabilities of wealth management subsidiaries, the allocation ratio of equity assets may increase, on a solid basis. Increase the level of income. "Dong Ximiao said.

　　According to data from Rong 360 Big Data Research Institute, the average benchmark of wealth management products issued by wealth management subsidiaries in April was 4.34%, which is 45 basis points higher than the average yield of wealth management products issued by traditional banks.

　　Experts advised that the wealth management subsidiaries have lower product thresholds, longer durations and higher risks. When buying wealth management products, investors should strengthen their personal risk awareness and learn to understand the manual. The era of "buying money with closed eyes" is over.

　　"If customers cannot accept floating income wealth management products, large deposit certificates and time deposits are more suitable choices." A wealth management manager at a joint-stock bank outlet said that the current 2-year large deposit certificate interest rate can reach more than 3%. Recently, some banks have large deposit certificates, and investors can also pay attention to long-term time deposits. The interest rate generally rises on the basis of the deposit benchmark interest rate.