The first batch of pilot pension wealth management products have been released in half a year of fundraising more than 40 billion yuan

Reporter Peng Yan

Since the first batch of pension wealth management products began raising on December 6, 2021, the advent of pension wealth management products has been released for half a year. According to statistics from China Financial Management Network, "Securities Daily" found that as of June 14, the number of pension financial management has expanded to 24. Except for two newly launched pension wealth management products, the total fundraising scale of 22 pension wealth management products currently survived for more than 40 billion yuan. It can be seen that pension wealth management products have entered a normalized issue stage.

From the perspective of analysts in the industry, the market share of future pension wealth management products will be steadily increased, and pension wealth management products will become the main fist products of bank wealth management subsidiaries. First of all, because of favorable policies to help the development; second, the pilot results show that the demand for pension wealth management products is strong, and the supply is smaller. Furthermore, pension wealth management products have long -term, stable, high yields, and inclusive products.

Pension wealth management product

The scale continues to expand

From the perspective of investment in these 24 pension wealth management products, 16 pension wealth management products are fixed income categories, and the other 8 are mixed categories. From the perspective of period types, it is mostly a closed net worth wealth management product for more than 3 years. From the perspective of the issuing agency, 5 companies involved CCB Financial Management, Everbright Finance, ICBC Financial Management, Recruitment Bank Finance, and Belle German CCB Financial Management, respectively, hold 9, 7, 4, 3, and 1, respectively. Pension wealth management products.

From the perspective of performance, the performance comparison of most products is 5.8%and 8%, respectively. It is worth mentioning that as of now, the latest net worth has exceeded 1 among the 21 recuviets wealth management products that have been disclosed in net worth, which shows the characteristics of stable operation.

In this regard, Yu Baicheng, the dean of Zero One Research Institute, said that China has entered an aging society, and the demand for pension financial products has continued to rise. Essence Therefore, in terms of product design, pension wealth management products have the characteristics of longer deadlines and more asset allocation, which are conducive to the stability of net worth.

Since the CBRC selected the pilot of pension wealth management products in September last year, in order to further enrich the supply of pension wealth management products, in March of this year, the scope of piloting wealth management products has been expanded from the "four places, four institutions" to "ten places" to "ten places" Ten institutions. However, from the perspective of the current issuance of pension wealth management products, most of the above 24 pension wealth management products come from the first batch of pilot institutions, and wealth management subsidiaries, as the second batch of pilot institutions, have not yet "launched" pension wealth management products.

In this regard, Xue Hongyan, deputy dean of Xingtu Financial Research Institute, said in an interview with a reporter from the Securities Daily that for the new pilot agencies, pension wealth management products are new products, involving product design, system construction to marketing specifications, wind style, wind wind A series of work such as control requires sufficient preparation time. In the context of accelerating aging society, pension wealth management has a broad space for development and will also become one of the important pillar businesses for future wealth management companies. Therefore, after the second batch of pilot agencies expect to be ready, the number of pension wealth management products will increase rapidly.

Yang Rong, chief analyst of CITIC Construction Investment Securities Banking industry, believes that the market size and pilot scope of pension wealth management products in the future will further expand, following the overall development principle of "small step jogging, overall advancement" Internal implementation will become the mainstay of the third pillar of my country's endowment security system in the future.

In addition, judging from the sales of pension wealth management products in various pilot areas, the pilot wealth management products launched by the pilot of the "four places and four institutions" are welcomed by the market and investors.

"Due to the relatively stable income of pension wealth management and the relatively high performance benchmark, it has inspired customers to subscribe for subscription enthusiasm. Previously, the elderly financial management ended the upper limit of raising or raising the raising scale." reporter.

Pension wealth management product

It will become the mainstream wealth management product

Since the beginning of this year, the state has successively introduced a series of policies to help pension finance. On April 21 this year, the General Office of the State Council issued the "Opinions on Promoting the Development of Personal Pension" clearly that the fund account of personal pension funds can be used to purchase financial products such as bank wealth management and savings deposits that meet the prescribed banks. In May, the China Banking Regulatory Commission issued the "Notice on Regulating and Promoting the Development of Commercial Pension Financial Business" to make principled regulations on business rules for commercial pension finance, proposed to establish a diversified development pattern, support bank insurance institutions to carry out personal pension business, advocate banks Insurance institutions have steadily promoted the development of commercial pension finance. This also marks a new period of regulating healthy development in my country.

CITIC Securities Research Report pointed out that the personal pension account was launched, and the pension wealth management products ushered in development opportunities. Promote the development of personal pensions that are suitable for China's national conditions, government policies, individuals participating in individuals, and market -oriented operations, and realize the function of pension insurance supplement. Personal pension account funds are used to purchase financial products such as bank wealth management, savings deposits, commercial pension insurance, and public funds. Pension wealth management products ushered in development opportunities.

However, Xue Hongyan said that as part of the third pillar of the elderly, the current pension wealth management market in my country is still in a blank period, the market ecology is not yet mature, and it lacks widely recognized star pillar products. Therefore, the focus of work at this stage still lies in investor education, and continuously improves the penetration rate of pension financial management through creative products.

Regarding the prospects of future pension wealth management, Yang Rong believes that first of all, the relevant systems such as tax discounts, pension personal account systems may be introduced in the future, promoting the development of pension wealth management products, will be based on the characteristics of "pension" and seek diversification and differentiated development of products; Secondly, the future pilot pilot of pension wealth management products will be further expanded, and the market size will be steadily expanded. "With the support of national policy, the strengthening of investor's pension financial management awareness, and the future pilot to expand further nationwide, under the blessing of the supply side and the common force of the demand side, the market share of future pension wealth management products will be steadily increased. Pension wealth management products will become the main fist product of bank wealth management subsidiaries. " Guoxin Securities Research Report pointed out that pension wealth management has entered a standardized era, and the development of pension financial management is huge. From the perspective of demand, with the rapid development of my country's population aging, the level of residents' income and awareness of pension gradually increase, and the demand for pension wealth management will gradually increase. From the perspective of supply, the current domestic exclusive pension wealth management products have just started. Compared to residents' residents' The potential demand for pension wealth management still has insufficient development, and there is huge room for development in the future.

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