Yu'ebao's income is lower, where is your change?
Expert: The “Jubao” effect of money funds has not disappeared
Yesterday, a news that "Yuebao's income was lower than the one-year fixed deposit rate" was hotly searched. Some netizens raised the question: "Is Yu'ebao not a current account? Why should it be compared with a regular interest rate?" The Beijing Youth Daily reporter learned that, as a cash management tool relying on currency funds, Yu'ebao should make deposits against the standard demand.
At present, the annualized rate of return of the various money funds connected to Yu'ebao has indeed fallen to about 1.5% to 1.8% on the 7th, but most banks' current deposit interest rates are only 0.3% to 0.35%, so the income of Yuyuebao is still in demand deposits More than five times the interest rate. However, at present, the annualized rate of return of a large number of bank-based current wealth management products exceeds 3%, and the minimum is 2.20%. Some investors have transferred the remaining money back to the banks.
Monetary fund yields continue to fall
Yesterday, a reporter from the Beijing Youth Daily checked the currency fund connected by Yu'ebao and found that the 7-day annualized return rate of Baoying Currency A, BOC Salary Wallet Currency, Changsheng Tianlibao Currency and Huatai Berry Currency A was below 1.5%. The 7-day annualized return rate of a few funds such as Tianlibao and Guangfa Money Bag Currency A is still higher than 1.7%, with a maximum of 1.73%.
In fact, the decrease in Yu'ebao's yield is not due to the poor performance of Yu'ebao's docking funds, but that the return of all money funds continues to decline. The rate of return of money funds is closely related to loose market funds. Since the beginning of this year, affected by the epidemic, the central bank has adopted a variety of measures to invest liquidity. The loose funds have led to the continued decline in market interest rates and the unavoidable decline in the yield of money funds. In addition to Yu'ebao, the change in the yield of Internet current wealth management products such as Qiaotong and other money funds fell across the board.
According to the report released by Rong 360 Big Data Research Institute, its sampled 73 Internet baby products are connected to 274 currency funds, and after deduplication is 154, these Internet baby products last week (May 25-May 31) The average 7-day annualized rate of return is 1.63%. Among these 154 currency funds, there were only 14 babies with an annualized return rate of more than 2% on the 7th of last week, accounting for 9.1%.
Bank current wealth management products generally exceed 3%
With the increasing decline of Internet baby's income, some smart investors have transferred the current funds back to the bank. Of course, instead of going to the survival period, they buy the current wealth management products of the banking department. They can also be used flexibly, and the rate of return is much higher than that of baby wealth management.
Yesterday, a reporter from the Beijing Youth Daily inquired about the current wealth management products of many banks and found that products with an annualized return rate of about 3% on the 7th were relatively common, and products with relatively high return rates were almost all sold out.
Everbright Bank currently has 8 current+ products, and the expected annualized return rate is between 3.05% and 3.70%, with a minimum starting point of 10,000 yuan and a maximum of 10 million yuan. The higher the threshold, the higher the income. Among the 4 products, the return rate is also related to the holding time. The longer the holding time, the higher the return rate. If it exceeds 90 days, it can reach a maximum of 3.70%.
The 7 reference wealth management products of Minsheng Bank have a minimum reference annualized return rate of 2.95% and a maximum of 3.90%, with a starting point of 10,000 yuan each. The higher the threshold, the higher the rate of return of products. The longer the holding time of two products, the higher the rate of return, which can be 3.80% or 3.9% for more than one year.
In addition to these joint-stock banks, which have always had a relatively high rate of financial returns, the current state-owned bank's current wealth management products also have a non-juvenile rate of return of more than 3%. For example, the 6 current financial management of Bank of Communications currently on sale, the minimum reference annualized rate of return is 2.6%, the highest is 3.11%, the starting amount is 10,000 yuan.
Internet baby has a lower threshold and is more flexible
It should be noted that Internet babies can be invested for 1 cent, and the bank's current financial management threshold is basically 10,000 yuan, and some even hundreds of thousands or millions, so it is not necessary to buy it.
In fact, Yuebao and other Internet baby products are used as cash management tools and can be used for consumption and are flexible and convenient to use. It is still a popular coin purse. It is understood that Yuyuebao has access to 29 funds, of which Tianhong Yuyuebao's quarterly report shows that its net assets in the first quarter increased by 15.08% compared with the fourth quarter of last year.
Pan Helin, Executive Dean of the Digital Economics Research Institute of Zhongnan University of Economics and Law, said that among the many liquidity management products, for risk-averse investors, currency funds are still a good choice for hedging. Cash management and other financial products such as commodity-based products are also relatively good cash management tools. Therefore, the “Jubao” effect of monetary funds such as Yu'ebao has not disappeared, and it is still a cost-effective cash management tool.
Wang Gang, a researcher at the Development Research Center of the State Council, suggested that you rationally view the recent changes in the yield of monetary funds and strengthen your understanding of asset allocation. Live money management prioritizes asset security and liquidity. If you seek higher returns, you can choose other wealth management products on Alipay, put the cakes on different plates, and plan your asset allocation appropriately.
Text/Reporter Cheng Jie