As bank wealth management products gradually break the tradition of "rigid redemption", the number of net value bank wealth management products has increased significantly compared with the past, and are considered by domestic commercial banks to be the development direction of the wealth management market. So, what exactly are net value financial products?
1. Overview
Net-value financial management products are similar to open funds and are open-ended, non-guaranteed income financial management products. It has no expected returns, and the banks do not promise fixed returns. The income obtained by users is related to the net value of the product, and the risk-bearing entity falls on the users.
For example, when we purchase the net value of the product is 1. On the next open day, if the net value of the product becomes 1.3, we will get a profit: 1.3-1=0.3; if the net value of the product becomes 0.8, we will lose: 0.8-1=0.2. The bank will announce its net value on fixed dates such as day, week, month, etc. according to the agreement, and we can conduct a net value query.
has three main features: 1. Since net value financial products have added liquidity to the basis of closed financial management, there are open days on day, week and month. Therefore, compared with general financial products, subscription and redemption are more flexible. 2. Due to the regular disclosure of income from the product, the information is more open and transparent. 3. It is linked to different markets, especially some high-risk markets, and the returns are greatly affected by the market conditions.
2. Calculate the specific rate of return
Assuming that the total subscription amount of of the investor is 10,000, the net value of the current financial management unit share at the time of subscription is 1.02 yuan, and the net value at the time of redemption is 1.06 yuan, then the actual redemption amount of of the investor is = subscription share × 1.06=10000÷1.02×1.06=10392.2 yuan.
Then, the actual income of of net value financial products = redemption actual amount - total subscription amount =10392.2-10000=392.2 yuan. Actual rate of return = 392.2÷10000 = 3.92%. (Note: This is the data after the subscription and redemption fee is not calculated)
3. The current situation
net value wealth management products are considered by domestic commercial banks to be the development direction of the wealth management market, but the actual number of issuances is not large and are not currently the main products of banks.
According to Puyi Standard data, in 2017, banking financial institutions issued a total of 190,721 wealth management products. Among them, there were 1,183 net value wealth management products, an increase of 56.27% year-on-year compared with 2016, but the proportion was only 0.6%. In other words, traditional bank wealth management products still dominate the mainstream in terms of quantity and yield, and the proportion of net value products can be almost ignored.
The financial manager of a joint-stock bank branch said: Since net value financial products do not have fixed financial returns like some closed financial products, the risk coefficient is relatively high. Therefore, most customers are not interested in this kind of financial products, and traditional fixed income financial products are still their favorites.
Some investors also said: The returns of net value wealth management products are really fluctuating too much, and it is better to buy bank fixed income wealth management products or fund products.
In addition, judging from the issuance of various banks, there are still many non-guaranteed wealth management products with a net worth of 3 months, and the expected yields of non-guaranteed wealth management products such as 33 days, 86 days, and 90 days are all above 5%.
To sum up, according to regulatory ideas, bank wealth management products will likely be converted into "net value" in the future. But as far as the current situation is concerned, investors are not very popular with net value wealth management products, and traditional wealth management products are still the main products of banks.
