杭银理财一产品超六成仓位重仓城投债，风险集中隐忧丨机警理财日报

Core Insights - The report focuses on the performance of three categories of wealth management products: cash management products, pure fixed income products, and "fixed income + options" products [1] Cash Management Products - The average annualized yield for public cash management products over the past six months is 1.62% as of May 8 [9] - The highest yield in this category is from "Suyin Wealth Management Qiyuan Currency No. 2 (ESG Theme) G," with an average annualized yield of 2.635% [9] - Other notable products include "Jiaoyin Wealth Management Stable Enjoy Cash Add Benefit (Enjoy Version) No. 52 C" with a yield of 2.558% and "Suyin Wealth Management Qiyuan Cash No. 6 JS" with a yield of 2.393% [9] Pure Fixed Income Products - The average yield for public pure fixed income products with an investment period of 2-3 years is 3.52% over the past year [4] - A significant 98.16% of these products achieved positive quarterly returns over the past year [4] - The top-performing product is "Hangyin Wealth Management Happiness 99 Abundant Fixed Income 23003 (Stable Low Volatility)," with a net value growth rate of 5% [4] - The second-best is "Hangyin Wealth Management Happiness 99 Longevity 23002 (Stable Low Volatility)," with a growth rate of 4.86% [4] - Both top products heavily invest in urban investment bonds, with the first product having 89.19% of its net asset value in such bonds [4][5] "Fixed Income + Options" Products - The average net value growth rate for public "fixed income + options" products over the past six months is 0.68% [12] - The highest growth rate in this category is from "Zhaoyin Wealth Management Zhaorui Global Asset Momentum Two-Year Open 10 Fixed Income Class A," with a growth rate of 2.64% [12] - The second highest is "Zhaoyin Wealth Management Zhaorui Global Asset Momentum Fourteen-Month Open 8 Fixed Income Class A," with a growth rate of 2.11% [12]