4000点的A股让人跃跃欲试？揭秘理财固收+掘金权益市场

Core Viewpoint - The A-share market is experiencing renewed interest as the Shanghai Composite Index returns to the 4000-point mark after 10 years, prompting investors to seek better yield alternatives amid declining deposit rates and improving equity market performance [1] Group 1: Market Trends - The issuance scale of mixed financial products has shown a significant expansion trend this year, with some products offering annualized returns of over 5% to 7% [1] - The "fixed income +" products are increasingly focusing on equity assets, with a notable rise in the performance of mixed products compared to the previous year [2][3] - The average annualized return of "fixed income +" products from Everbright Wealth is above 3%, with some products achieving returns over 5% [3] Group 2: Asset Allocation - The typical allocation model for "fixed income +" products consists of 70%-90% fixed income assets (such as government bonds and high-grade credit bonds) and 10%-30% equity/alternative assets (like stocks and REITs) [4] - The "plus" portion of "fixed income +" products has been expanded to include REITs, quantitative strategies, and derivatives, which have shown positive results [3][4] Group 3: Investment Strategies - Financial institutions are increasingly collaborating with external managers to gain alpha returns from equity assets and diversify their portfolios [6] - The regulatory environment is encouraging financial companies to participate in equity markets, with recent policies allowing them to engage in IPOs and private placements [6][7] - The focus on equity investments is seen as a market trend, with firms needing to enhance their research capabilities to manage risks effectively [8] Group 4: Future Outlook - There is potential for further expansion in the "plus" segment of "fixed income +" products, particularly in cross-border assets and derivatives [10] - The industry is cautiously optimistic about the upward potential of "fixed income +" yields, with current yields being 30-50 basis points higher than pure fixed income products [11] - The overall yield environment for various financial products has been declining, with recent reports indicating a drop in annualized yields for open and closed fixed income products [11]