In 2022, the new asset management regulations and details are fully implemented, and the public fund business has become one of the important focus of the transformation of securities companies' asset management.
Wind data shows that as of October 11, 2022, according to the effective date of the transformation, the cumulative number of large-scale publicly-funded transformation products completed by brokerage and asset management subsidiaries is 345 (based on the transaction share fund statistics, the same below). Among them, since the beginning of this year, the number of large-scale public-funded transformation products completed by securities asset management has been 103.
In the view of industry insiders, the public offering transformation of securities companies' large collective asset management products has become an important direction for the transformation of securities companies' asset management business. In the future, more securities companies' asset management will apply for public offering licenses and enter the public offering fund market.
two types of products take the lead
Wind data shows that as of October 11, 2022, according to the effective date of the transformation, the cumulative number of large-scale public-funded transformation products completed by securities asset management has been 345. In 2020, the number of large-scale renovation products completed by securities asset management was 76, 157 in 2021, and 103 since 2022.
Since the transition period of cash management products is set to the end of 2022, bond funds and money-based funds have become the focus of the public offering transformation of large collective products this year.
Specifically, for example, Xingzheng Asset Management Gold Kirin Cash Tianli, Zhongyuan Tiantian Huili Currency, Galaxy Mercury Cash Tianli, Dongguan Securities Qifeng Tianli, Shenwan Hongyuan Tiantianzeng, Shenwan Hongyuan Tiantianli are all monetary funds. The seven products that were transformed and implemented in July, Donghai Securities Cash Manager, Guohai Cash Bao, Nanjing Securities Shenzhou Tiantianli, Western Securities Yichuantong, Wanlian Securities 0,000-year Hongtiantianli, CICC Wealth Jujinli and CITIC Securities Cash Tianli, all of which are monetary funds.
In addition to securities firm margin products, bond funds are also one of the key points of the public offering transformation of large collective products. Wind data shows that since the beginning of this year, the entire market has completed the transformation of more than 40 bond funds, including CITIC Securities medium and short-term bonds, Everbright Sunshine Beidouxing 9-month bonds, China Merchants Asset Management Zhaochaoxin medium and short-term bonds, etc.
Asset Management Business Structure Continuously Optimized
At present, the securities company's asset management business structure continues to optimize, and the net value transformation results are highlighted.
China Securities Association data shows that as of the end of June 2022, the total net value of entrusted assets of Securities industry asset management business was 10.99 trillion yuan. Among them, the scale of public funds (including large collections) increased by 7.75% from the end of last year to 1.11 trillion yuan.
Some securities companies stated in their 2022 semi-annual reports that they will continue to closely promote public offering transformation and other work in the second half of the year. For example, CICC stated that it will continue to steadily promote the establishment of asset management subsidiaries in the second half of the year, focus on improving the core competitiveness of business development, build an excellent asset management brand, and promote the high-quality development of asset management business.
It is worth noting that the pace of securities companies entering the public offering track is accelerating, and they have set up asset management subsidiaries in an attempt to seek public offering fund licenses. According to incomplete statistics, currently, there are currently CITIC Securities, CICC, CITIC Construction Investment, Huachuang Securities , Shenwan Hongyuan, Guosen Securities , Guolian Securities , Huaan Securities , Dongxing Securities , Guohai Securities , Wanlian Securities and other securities companies are applying to establish asset management subsidiaries.
Edited by: Yesong
