PAB(SZ:000001) Zheng Quan Shi Bao·2025-09-21 17:06Core Viewpoint - The article emphasizes the importance of stable returns and effective risk management in the banking wealth management sector, particularly through the practices of Ping An Wealth Management, which aims to provide a robust investment experience for clients amidst market volatility [1][2][3]. Group 1: Investment Performance - As of the end of July this year, Ping An Wealth Management's fixed income and fixed income+ products achieved an average annualized return of 3.46% over the past three years, ranking among the top in the industry [2]. - The probability of positive returns for investors holding fixed income and fixed income+ products until maturity is 98% and 99%, respectively [2]. - The proportion of products with negative returns is only 0.55%, significantly lower than the industry average, indicating effective management of drawdowns [2][3]. Group 2: Risk Management Strategy - Ping An Wealth Management has established a strong focus on drawdown management, aiming to control net value fluctuations while maintaining competitive returns [3][4]. - The company has adopted an "industrialization + platformization" investment management model to enhance efficiency and consistency in risk-return characteristics across its product offerings [4][5]. Group 3: Product Development and Branding - The company has launched a new product system called "An+Xin Stable and Long-term," which includes four product series: "Anxin" for cash management, "Anwen" for absolute return fixed income products, "Anzhi" for multi-asset strategies, and "Anyuan" for mixed products aimed at long-term value appreciation [7]. - This product upgrade aims to better meet the increasingly diverse wealth management needs of investors by providing clearer product positioning and richer functional scenarios [7]. Group 4: Strategic Growth and Market Position - Ping An Bank is focusing on enhancing its asset management scale (AUM) through a strategic shift towards wealth management, particularly in basic wealth management products, which are seen as a reservoir for high-quality AUM growth [6]. - The bank is adjusting its structure to increase the proportion of basic wealth management products, aligning with trends in resident wealth allocation preferences and enhancing the resilience of its AUM structure [6].