Group 1: Asset Management Trust Market Overview - In July, the issuance of asset management trusts saw a slight decline in quantity and a significant decrease in scale, with non-standard product issuance down by 13.85% and disclosed issuance scale down by 23.97% [1] - The establishment market for asset management trusts showed a notable increase in quantity but a significant decrease in scale, with non-standard financial products' disclosed establishment scale decreasing by 8.309 billion [1][4] - Basic industry products experienced a disclosed establishment scale increase of 7.246 billion, reflecting a nearly 30% growth, supported by stable contributions from high-qualification regions and significant growth in central and western regions [1][4] Group 2: Standardized Trust Products Performance - The issuance of standardized trust products in July increased significantly, with 1,491 products issued, a rise of 10.44%, although the disclosed issuance scale decreased by 1.53% [2] - The number of established standardized trust products also saw a significant increase, with a rise of 195 products, or 17.55%, while the disclosed establishment scale decreased slightly by 0.09% [2] - TOF (Trust of Funds) products were the main growth driver in the standardized trust establishment market, with 481 products disclosed, an increase of 33.62%, and a disclosed establishment scale of 8.561 billion, up by 16.90% [2] Group 3: Performance Metrics of Trust Products - In July, the average performance benchmark for fixed-income products was 2.89%, a slight increase of 0.03 percentage points, while the benchmark for mixed products was 3.78%, down by 0.49 percentage points [3] - The downward trend in fixed-income product benchmarks is stabilizing, influenced by changing monetary policy expectations and a strong equity market [3] - The average expected yield for non-standard trust products in July was 5.18%, up by 0.11 percentage points, with basic industry products showing the most significant yield increase [5][6] Group 4: Non-Standard Financial Products Trends - The establishment scale of non-standard financial products decreased significantly in July, primarily due to the impact of credit asset transfer business, with a decrease of nearly 30% [5] - The establishment scale of industrial and commercial enterprise products fell by nearly 70%, attributed to a decline in manufacturing PMI and reduced financing demand [5] - The average term for non-standard trust products was 1.88 years, a decrease of 0.04 years, with variations in average terms across different product categories [5]
7月资管信托规模下降 政信项目收益回升支撑非标产品收益回暖
Guo Ji Jin Rong Bao·2025-08-12 15:45