The first batch of personal pension wealth management products went on sale
7 products from home institutions can be selected for a minimum of 360 days
Personal pension wealth management products are finally launched.
On February 10, China Finance Network released the list of the first batch of personal pension wealth management products. Seven personal pension wealth management products from ICBC Wealth Management, Agricultural Bank of China Wealth Management and China Post Wealth Management were officially launched.
So far, the "shelves" of personal pension accounts have finally collected four types of products: personal pension savings, personal pension wealth management, personal pension insurance, and personal pension public funds.
According to reports, the first batch of personal pension wealth management products are all open-ended public offering net worth products, including 5 new products and 2 existing products. Except for 1 product that is a mixed product, the remaining 6 products are fixed income products.
A reporter from Beijing Youth Daily saw that 4 of the 5 new products came from ICBC Wealth Management, all of which were fixed-income products, and the minimum holding periods were 365 days, 540 days, 720 days and 1080 days. The benchmarks (annualized) are 3.70%-4.20%, 4.10%-4.60%, 4.40%-4.90%, and 5.25%-5.75%, respectively.
The remaining one newly released product is "Post Bank Fortune Tianyi · Hongjin Shortest Holding 1095 Days No. 1", which is also a fixed-income product. The fundraising started on February 10 and ended on February 19. The risk level is Level 2 .
Among the two surviving products, one is the ABC Wealth Management "ABC Tongxin Smart" 360-day technological innovation RMB wealth management product, the investment nature is mixed, and the risk level is three.
Another surviving product is "Postbank Fortune Tianyi · Hongjin No. 1 with the shortest holding period of 365 days", a fixed-income type, which began to raise funds on December 30 last year and officially started operation on January 4 this year. Equity is 1.0011.
According to the "Opinions of the General Office of the State Council on Promoting the Development of Personal Pensions", the financial products that can be invested in personal pension fund accounts include bank wealth management, savings deposits, commercial pension insurance, public funds, etc.
The launch of the first batch of personal pension wealth management products marks that individual pension investors can officially purchase wealth management products through personal pension fund accounts.
In November last year, the China Banking and Insurance Regulatory Commission formulated the "Interim Measures for the Administration of Personal Pension Business of Commercial Banks and Wealth Management Companies".
The "Measures" stipulate that participants can purchase personal pension savings, personal pension wealth management products, personal pension insurance products, personal pension public offering fund products and other personal pension products through their personal pension fund accounts.
Subsequently, the Ministry of Human Resources and Social Security, the Ministry of Finance, and the State Administration of Taxation issued a notice specifying that the personal pension system will be implemented in 36 leading cities and regions including Beijing, Tianjin, Shijiazhuang in Hebei, Xiongan New District, and Jincheng in Shanxi.
By the end of 2022, the number of individual pension participants will be 19.54 million, the number of contributors will be 6.13 million, and the total payment amount will be 14.2 billion yuan.
Previously, the banks participating in the pilot had only listed three types of products: personal pension savings, personal pension insurance products and personal pension public offering funds.
Now that personal pension and wealth management products are also available, how should investors choose?
Experts from the R&D Department of Bank of Communications Financial Products said that compared with other personal pension products, the pension financial products in the pilot phase and personal pension financial products have three characteristics.
The first is robustness. The risk management mechanism is more complete, the investment strategy and philosophy are more stable, and the third-party independent custody of the non-parent bank is implemented.
The second is long-term. The term of pension wealth management products in the pilot phase is 5 years or more. The personal pension wealth management products issued in the next step have a minimum holding period of 1 year in principle, and are encouraged to hold more than 3 years.
The third is inclusiveness. The product purchase threshold is low. The minimum purchase point is generally 1 yuan, and some are as low as 0.01 yuan. The product custody fee, management fee and other rates are more favorable.
Professionals pointed out that investors should make choices based on product characteristics and their own risk tolerance.
Personal pension savings have the characteristics of long term, high interest rate, and high security, which are suitable for people with weak risk tolerance; personal pension insurance products focus on security, and are more suitable for people who cannot bear investment risks but can accept stable returns; However, personal pension wealth management products and public offering fund products do not guarantee capital or income, and have certain investment risks, but the expected returns are relatively high, and they are suitable for people with certain financial knowledge and high risk-taking ability.
Text/Reporter Cheng Jie Coordinator/Chi Haibo