在“净值2.0时代”锻造理财“韧性收益力”

Core Viewpoint - The banking wealth management industry is redefining its concept of stability in the context of a transition to net value and a low interest rate environment, emphasizing the importance of controlling drawdowns while pursuing higher long-term performance targets [1][2][6] Group 1: Market Environment and Challenges - The reduction in interest rates has led to thinner "cushions" for investors, resulting in increased volatility in wealth management product returns [1][2] - The transition to the "Net Value 2.0 Era" has amplified the net value fluctuations of wealth management products, but banks still maintain a lower overall volatility compared to public funds and other asset management products [2][6] Group 2: Investment Strategy and Approach - The company focuses on creating products with a high Calmar ratio, which balances drawdown control with maximizing long-term performance [2][3] - The investment strategy is driven by market dynamics rather than reliance on single asset classes, allowing for resilience in yield even as the company expands its product scale [3][4] Group 3: Client Adaptation and Trust Building - The company has segmented its product line into categories based on volatility to better match client risk preferences, ensuring that products align with customer needs [5] - Building long-term trust with clients is crucial, and the company implements regular product reporting, client education activities, and training for sales personnel to foster understanding of product logic over mere yield chasing [5][6]