纯固收理财近1年平均回报超3%，杭银理财一产品回撤大幅超同业

Core Insights - The report focuses on the performance of three categories of financial products: pure fixed income, cash management, and "fixed income + options" products [1][2] Group 1: Pure Fixed Income Products - As of July 17, 2025, the average net value growth rate for public pure fixed income products with an investment period of 1-2 years is 3.09%, with an average maximum drawdown of 0.23% [5] - 65.1% of the pure fixed income products achieved positive quarterly returns over the past year, with six products having a net value growth rate exceeding 4% [5] - The top three products in this category are: - Hangyin Wealth "Happiness 99增益固收(智享纯债)540天持有期" at 4.63% - Huaxia Wealth "Fixed Income Debt Type Closed 152号A" at 4.49% - Nanyin Wealth "珠联璧合鑫逸稳两年36期封闭式C" at 4.47% [5] Group 2: Cash Management Products - The average annualized yield for public cash management products over the past three months is 1.469%, with only 2.2% of products exceeding a yield of 2% [12] - The only cash management product with an average yield over 3% is Su Yin Wealth "启源货币2号(ESG主题)F" at 3.019% [12] Group 3: "Fixed Income + Options" Products - The average net value growth rate for "fixed income + options" products over the past three months is 0.95% [17] - The top two products in this category are: - Zhaoyin Wealth "招睿全球资产动量两年定开10号A款" at 2.75% - Ping An Wealth "鑫享指数增强1号一年定开" at 2.66% [17] - Zhaoyin Wealth's product employs a global asset allocation strategy, focusing on stable fixed income investments and has recorded a net asset value of 58.8838 million yuan as of mid-2025 [18]