10月份标品信托成立规模环比增长12.86%‌

Core Insights - The asset management trust market is experiencing a shift, with non-standard products cooling off while standard trust products are gaining traction [1][4]. Group 1: Market Performance - In October, the issuance of asset management trusts saw a decline in both quantity and scale month-on-month, with 2,208 products issued, a decrease of 9.39%, but a year-on-year increase of 19.87% [2]. - The disclosed issuance scale was 110.73 billion yuan, down 12.99% month-on-month, but up 25.52% year-on-year [2]. - Non-standard products saw a significant drop, with issuance quantity down 18.72% and scale down 19.81% month-on-month [2]. - Standard trust products experienced a slight decrease in issuance quantity by 1.23%, but their scale increased by 1.00% [2]. Group 2: Market Dynamics - The establishment of asset management trusts also declined, with 1,651 products established in October, a decrease of 27.71% month-on-month, but a slight year-on-year increase of 0.61% [2]. - The disclosed establishment scale was 60.52 billion yuan, down 14.62% month-on-month, but up 28.95% year-on-year [2]. - Non-standard products faced a weak establishment market, with a 37.12% decrease in quantity and a 22.78% decrease in scale month-on-month [2][3]. - In contrast, standard trust products saw a growth in establishment scale by 12.86% despite a decrease in quantity [2][3]. Group 3: Regulatory Environment - The trust industry is undergoing a transformation due to a series of new regulations aimed at clarifying the boundaries of various trust business categories [4]. - The recent regulations emphasize a shift from traditional non-standard business models to a focus on asset management trusts, which are defined as private asset management products based on trust law [4]. - The new regulations prohibit channel and fund pool businesses, and impose reasonable restrictions on non-standard debt investment ranges and structured product leverage levels [4]. Group 4: Future Outlook - The trust industry is expected to transition from a scale-oriented approach to a quality and efficiency-first model, enhancing competitive differentiation in the large asset management market [5].