业绩比较基准仍具吸引力 封闭式理财产品实际收益偏离度收窄

Group 1 - The wealth management industry is showing positive signals, with the average annualized return of closed-end products at 2.78%, trailing the benchmark by 0.16 percentage points [1] - The actual payout returns of various products are increasingly approaching their performance benchmarks this year, prompting deeper discussions about the attractiveness of performance benchmarks in the wealth management industry [1] Group 2 - There is a noticeable divergence in returns between open-ended and closed-end fixed-income wealth management products, with open-ended products achieving an average payout return of 2.73%, up 7 basis points (0.07 percentage points) from the previous month, exceeding their average performance benchmark by 4 basis points [2] - Closed-end products, on the other hand, saw an average payout return of 2.78%, down 3 basis points, and lagging behind the average performance benchmark by 16 basis points [2] - This divergence is attributed to differences in portfolio structure and market conditions, with open-ended products benefiting from flexible redemption mechanisms and better capturing market fluctuations [2] Group 3 - Analysts indicate that closed-end products require investors to sacrifice some liquidity for potentially higher returns or lower volatility, but their returns are significantly influenced by the timing of establishment and maturity [3] - Historical data shows that the deviation between the actual payout returns of closed-end products and their performance benchmarks has narrowed significantly over time, indicating reduced volatility in these products [3] Group 4 - The concept of performance benchmarks and the associated assessment of wealth management product performance has sparked increasing discussion within the industry, with some critics arguing that certain benchmark ranges have lost their reference value for investors [4] - Industry leaders emphasize the importance of logically setting performance benchmark ranges to reflect product positioning, investment strategies, and risk limits [4][5] - The establishment of performance benchmarks is deemed necessary for guiding investment managers in strategy formulation and ensuring a client-centered approach [5]