National Day financial strategy:
A variety of financial management yields less than 4%, debt-based alternative products
With the National Day and Mid-Autumn Festival approaching, and the end of the season, are there any financial investment opportunities that can make money earn another wave of income?
A week before the holiday, the Beijing News Shell Finance reporter consulted with a number of banks. Some holiday exclusive wealth management will be sold from September 27th to 29th, and some products have entered the fundraising period.
Since the National Day Mid-Autumn Festival financial management is mainly based on medium and low risks, the expected maximum return rate is mostly less than 4%. Compared with the average expected return rate (3.77%) of the recent financial management (September 12-September 18), the advantage is not counted. obvious.
Some banks launched holiday exclusive financial management, the yield advantage is not obvious
The reporter recently consulted 8 banks including Agricultural Bank of China, Bank of China, China Construction Bank, China Xia Bank, China Merchants Bank, China Everbright, Shanghai Pudong Development Bank, Bank of Hangzhou, etc. About half of the banks have made it clear that they will launch exclusive wealth management for the National Day and Mid-Autumn Festival. Ends from October 8th to 10th.
For example, the Agricultural Bank of China has a financial management called "Anxin National Day" with a period of 230 days and an expected maximum return rate of 3.37%. It is medium to low risk. It will be sold on September 27, with interest starting on October 10.
The 3 CCB related financial management related to the National Day and Mid-Autumn Festival, the end of the fundraising time is October 8th or 9th, the maturity is 3-4 months, the expected return rate is between 3.47% and 3.55%, and the risk is medium to low.
According to the latest report of Puyi Standard, a total of 1,562 wealth management products were issued nationwide from September 12 to September 18. The average return rate of closed-end expected return products was 3.77%.
In contrast, the expected return rate of the National Day and Mid-Autumn Festival financial management of the Agricultural Bank of China and China Construction Bank is not as good as this level.
Small and medium-sized banks such as China Merchants Bank and China Merchants Bank have relatively high wealth management yields, and they mainly invest in fixed-income products. They mainly invest in bonds and other low- and medium-risk targets. The highest expected yield of some products exceeds 4%, but the maturity is also longer, generally at 1 More than years.
And compared with the wealth management issued by the Bank at other time points, the yield advantage is not very obvious.
On the China Wealth Management website, using "National Day" and "Mid-Autumn Festival" as keywords, there were only 5 search results on September 26. In addition to the 3 products of CCB mentioned above, there are also two wealth management products from Shaoxing Bank. The fundraising period is up to On September 28, the periods were 77 days and 288 days respectively, both of which were medium and low risk. Among them, the performance benchmark for the 77-day product was 3.6%.
Capital-guaranteed wealth management has been withdrawn one after another, large deposit certificates and other products take over
The so-called "performance comparison benchmark" can be regarded as a historical report card of financial products.
According to the bank's wealth management manager, after the introduction of the new asset management regulations in 2018, the supervision clearly requires the net management of bank wealth management, and customers can only refer to the historical rate of return, and the actual investment income after the product expires is as much as it is.
Another manifestation of net worth management is the continuous withdrawal of capital-guaranteed wealth management.
In the latest visits, bank wealth managers generally made it clear that the products are neither capital guaranteed nor interest guaranteed. If the risk appetite is low, it is recommended to purchase large deposit certificates and other products instead.
From the bank's semi-annual report, Bank of Communications, Postal Savings Bank of China, Bank of Hangzhou, Industrial Bank, etc. have clearly stated that capital guaranteed wealth management has been cleared.
On September 18, the Central Bank issued the Measures for the Protection of Financial Consumer Rights and Interests, again emphasizing that banks and others must not express or imply capital preservation, no risk, or guaranteed profit when conducting marketing and promotional activities.
The main person in charge of the Consumer Protection Bureau of the China Banking and Insurance Regulatory Commission stated on the same day that financial consumers should be aware that "capital preservation and high yield" are financial fraud.
"Financial products that promise to guarantee the principal's return rate of more than 6% will have a question mark. If it exceeds 8%, it is very dangerous. If it exceeds 10%, it will be prepared to lose all the principal."
For customers with low risk appetite, bank managers often recommend large deposit certificates.
Puyi Standards researcher Wang Wei also told Shell Finance reporter that investors still need to adhere to the principle of "understanding themselves, understanding the market, and understanding products" when choosing wealth management products.
Some investors with low risk appetite or low acceptance of net worth products can consider products such as bank structured deposits, large deposit certificates, and national bonds; at the same time, low-risk products such as currency funds and bond funds can also be used as risk preferences Lower investor's choice.
-Investment strategy
Pay attention to the end of the month, the end of the quarter, the end of the year and other time points, debt base, large deposit certificates, etc. can be used as substitutes
Against the background of multiple RRR cuts and prevention of capital arbitrage this year, the expected return on financial management has continued to fall.
According to the statistics of the Puyi Standard Report, at the end of the first, second and third quarters of this year, the average expected rate of return of closed-end financial management was 3.94%, 3.78%, and 3.77% respectively.
The yield of large deposit certificates also declined.
When reporters visited before the Dragon Boat Festival, banks mostly increased the benchmark interest rate of 3-year fixed deposits by 40% to 3.85% on the basis of 2.75%, which has fallen from the 50% rise last year.
At present, the interest rate of some banks' 3-year certificates of deposit has been further reduced to 3.65%.
Yields continue to decline, and capital-guaranteed products are gradually withdrawing from the market. Under this background, what are your suggestions for investors to choose products?
Wang Wei believes that in terms of specific product selection, we can still pay attention to the time points such as the end of the month, the end of the quarter, the end of the half year, and the end of the year. Because banks have certain funding needs at these points, they will launch some products with higher performance benchmarks; At the same time, you can pay attention to the bank’s first and innovative products during holidays, major anniversaries and other periods, and related exclusive products launched for specific groups of people. The latter’s related fees (fixed management fees, sales handling fees, etc.) are also Lower.
According to the wealth management manager of the Bank of Hangzhou, a period of "market-specific" wealth management has just been issued recently, with a one-year term and an expected maximum return rate of 4%. There will be no quota on September 26.
The manager of the Agricultural Bank also said that the first phase of financing with a maximum yield of 5% has just been raised in the first two weeks, and it is recommended to pay attention to it through online banking, mobile banking and other channels at any time.
Regarding the choice of the maturity of wealth management products, Wang Wei suggested that investors with long-term stable funds can appropriately allocate products with longer maturities to lock in income in advance; investors with strong liquidity needs can choose cash management products and give priority to protection Liquidity and safety.
At the same time, investors can also adopt a long-term and short-term collocation strategy to balance the profitability and liquidity of the product.
Zhang Ting, senior macro analyst at Geshang Wealth, told Shell Finance reporters that in recent years, financial management has gradually shifted to net value management. Investors can choose fixed-income-based alternative products. In addition, short-term bond funds, medium and long-term pure debt funds, Primary debt base, secondary debt base, etc. can be used as substitutes.
As for how to choose the time of entry, Zhang Ting believes that the most suitable environment for bond funds is an environment with weak economic performance and loose liquidity. Since May, bond funds have gradually increased volatility, mainly due to liquidity. With the tightening of the sexual margin and the gradual recovery of economic growth, the current bond market can still remain cautious, and the fourth quarter can choose to operate.
In terms of maturity, it is recommended to choose according to your own liquidity needs.
Cheng Weimiao, reporter of Beijing News Shell Finance