Is the equity product of the bank's wealth management subsidiary worth buying?
Experts believe that such products and public funds should not be simply compared
This year, public offerings of partial equity funds are hot, and the money-making effect has greatly increased.
From the perspective of net worth performance, equity products of wealth management subsidiaries that also mainly invest in stocks and other assets underperformed funds significantly.
Some investors therefore have doubts about the investment ability of bank wealth management subsidiaries.
Many professionals interviewed by a reporter from the Beijing Youth Daily believe that the bank’s wealth management subsidiary was just established last year, and the number of equity products issued at present is very small, and the establishment time is also very short. Some are still in the period of building positions and cannot be compared with the mature ones. A simple comparison of public funds.
Bank wealth management subsidiaries are more cautious in operating equity products than fund companies, and are more suitable for the bank's target customers.
On September 1st, a reporter from Beijing Youth Daily checked the bank's financial information official query website-China Wealth Management.com, and only found three equity products issued by bank wealth management subsidiaries: Everbright Wealth Management Sunshine Red 300 Bonus Enhancement, Everbright Wealth Management Sunshine Red Health and Safety Featured themes and ICBC quantitative wealth management·Hengsheng configuration wealth management.
ICBC Quantitative Wealth Management·Hengsheng Allocation Wealth Management was established in 2013, while ICBC Wealth Management was only established last year, so this product is not strictly a wealth management subsidiary product.
Everbright Wealth Management’s Sunshine Red Hygiene and Safety Theme Selection was established on May 26 this year. The benefits of this three-month-old product are still far from the performance benchmark.
Everbright Wealth Management Sunshine Red 300 Bonus Enhancement was established on July 24. The product is temporarily away from the performance benchmark.
Some of the mixed products issued by bank wealth management subsidiaries are also invested in equity assets such as stocks. They are similar to mixed funds. How do they perform?
A reporter from the Beijing Youth Daily found that the risks and performance benchmarks of such wealth management products are lower than equity products, and many of them outperform the performance benchmarks.
The net value of 197 of the 408 mixed products exceeds 1.04. Since most of the establishment dates are less than one year and some are only three months, the converted annualized rate of return must exceed 4%, which is likely to beat the performance benchmark .
Of course, many products are still in the closed period, and it takes time to test whether such returns can be maintained after maturity.
This year's A-shares performed well. Nearly a thousand publicly offered funds have gained more than 50%, 9 products have doubled, and 96% of funds have achieved positive returns.
Even if there was a significant correction in August due to the market adjustment of partial-equity funds, the overall profitability effect was still very attractive.
Liu Yinping, an analyst at Rong360 Big Data Research Institute, believes that the current number of pure equity products of wealth management subsidiaries is limited and cannot reflect long-term performance. If it is purely tracking index, it is not much different from ordinary index funds.
"The bank's wealth management subsidiary has just been established for one year, and all aspects of its product system and investment and research capabilities are still being improved. Therefore, the equity products of the wealth management subsidiary and public funds cannot be compared together. How can a 3-year-old child run with a 30-year-old adult?" said Dong Ximiao, chief researcher of China Merchants Finance.
Text/Reporter Cheng Jie