Starting from New Year's Day this year, the "new asset management regulations" are officially implemented. Bank wealth management products will undergo a net value transformation, break the "guaranteed guaranteed and reliable repayment" and return to the original source of wealth management on behalf of customers. In addition to deposit business, other wealth management products will be borne by investors at their own expense. At the same time, bank wealth management subsidiaries have been established one after another and have gradually taken over most of the original bank wealth management markets. In 2022, it will compete with other financial institutions to make efforts in the equity market.
The era of "guaranteed financial management" is over. If investors want to continue to choose banks or bank wealth management subsidiaries as the main financial management channels, what aspects should investors pay attention to?
NO.1
NO.1
Net value transformation effect is significant
On April 27, 2018, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange jointly issued the "Guiding Opinions on Standardizing the Asset Management Business of Financial Institutions", requiring that "financial institutions should implement net value management for asset management products", and asset management business ushered in new regulations. According to the original arrangement, the transition period is the end of 2020. In July 2020, the People's Bank of China issued a notice saying that taking into account the impact of the epidemic, in order to smoothly promote the implementation of the "new asset management regulations" and the standardized transformation of asset management business, the transition period of the "new asset management regulations" will be extended to the end of 2021.
While the policies are constantly improving, with the gradual establishment of bank wealth management subsidiaries and the large-scale issuance of net value wealth management products, we are also ready for the end of the transition period.
On December 29, 2021, Guangfa Bank’s wholly-owned subsidiary Guangfa Bank held an unveiling ceremony. As of the day of the establishment of Guangyin Wealth Management, 29 bank wealth management subsidiaries have been approved for establishment, including 25 bank wealth management subsidiaries and 4 Sino-foreign joint venture wealth management companies, including 22, including the six major state-owned banks' wealth management subsidiaries, have been approved for opening.
In 2021, with the continuous growth of the bank wealth management subsidiary camp, the scale of net value products is also steadily increasing. According to data released by the Banking Industry Financial Management Registration Center, as of the end of September 2021, the scale of bank wealth management continued to reach 27.95 trillion yuan, a year-on-year increase of 9.27%; the net value ratio exceeded 86%, an increase of 26.08 percentage points from the same period in 2020.
NO.2
Why are financial products net valued?
Previously, bank wealth management products mainly included two categories: expected return type and net value type.
Net-value wealth management products do not have a fixed rate of return of expected income wealth management products. The bank uses the raised funds to invest and regularly publishes the net value of the product based on actual investment situation. Investors take the investment risks themselves when purchasing bank net value wealth management products. The bank does not guarantee the capital guaranteed by investors. If the investment raised funds makes a profit, investors will have profits; if the investment raised funds loses, investors will suffer corresponding losses in the principal of the investment purchased by investors.
Since net value products do not "guaranteed principal" and do not "guaranteed expectations", why should regulatory authorities promote net value?
In fact, only by realizing the net value of financial products, can the benefits and risks be truly reflected. "Financial management has risks, so you need to be cautious when investing." In the past, expected return-based wealth management products unilaterally emphasized returns, which misled investors' expectations of financial management risks. The risks do not exist, but are borne by the bank that issued the wealth management products. This not only causes financial products that promise high returns to attract a large amount of funds, but real low-risk products are "unwilling to" and the effect of optimized allocation of financial resources cannot be achieved. Moreover, the financial institutions that issue products assume the obligation of "hard-reform" can easily cause risks to accumulate and eventually lead to systemic financial risks.
Therefore, after implementing net value management for financial products, it will not only promptly reflect the investment returns and risks, but also develop the habit of "buyers are responsible", but also facilitate the healthy operation of the financial market.
NO.3
How investors operate
financial products in 2022, and require investors to "buyers to be responsible". So how should investors who do not have rich financial management knowledge deal with it?
Compared with the previous "fool-style" bank wealth management, the most important thing in purchasing net worth financial products is to read the "three books", namely "product manual", "risk disclosure book" and "information of investors' rights".Investors can learn from these information about the flow of funds raised by financial products, potential profit space and risks, how to redeem products to obtain returns, and the investment results in the most unfavorable investment situation.
It is worth noting that at present, banks not only sell wealth management products issued by self-operated or their wealth management subsidiaries, but also sell wealth management products issued by other financial institutions such as wealth management subsidiaries and fund companies. Investors should make good identification.
Take Bank of Communications Wealth Management as an example. According to the information released by its official website on December 17, 2021, the company has as many as 18 financial product sales agencies, including its parent company Bank of Communications, as well as financial institutions such as Ant Commercial Bank and Everbright Bank.
In addition, before purchasing financial products, investors can also log in to the "China Financial Management Network" to conduct "three checks", namely, check institutions, personnel and codes, and then understand the authenticity and compliance of the product.
Finally, investors also need to understand their "risk preferences" and risk tolerance. The China Banking and Insurance Regulatory Commission has issued guidance, clearly stating that before purchasing bank wealth management products, banks must first evaluate investors' risk preferences, and recommend corresponding wealth management products on this basis.
(Yandu Media Reporter Zhang Jingtao)
Yanzhao Metropolis Daily "Fortune World"
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