纯固收理财收益持续回落，国有行理财公司包揽榜单前三

Overall Performance - As of November 13, 2025, there are 954 public pure fixed-income products with an investment period of 6-12 months, of which 216 products achieved positive monthly returns, accounting for less than 30% [5] - The average net value growth rate for these products over the past year is 2.75%, with an average maximum drawdown of 0.08% [5] - Notable issuers include Zhongyou Wealth Management with 2 products listed, and Huibin Wealth Management, Jianxin Wealth Management, Nanyin Wealth Management, Schroder Jiao Yin Wealth Management, Suyin Wealth Management, Xingyin Wealth Management, and Zhongyin Wealth Management each with 1 product listed [5] Highlighted Product Analysis - Zhongyou Wealth Management's "Youyin Wealth · Hongyun One-Year Open 14th RMB Wealth Management Product" ranks first with a net value growth rate of 4.25% over the past year, and as of September 30, 2025, the product's scale reached 198 million yuan, with over 90% of assets invested in bonds [6] - The investment allocation for this product is primarily in urban investment bonds, medium-term notes, and sci-tech bonds, with a bond holding ratio of 94.44% [6] - Zhongyin Wealth Management's "9-Month Credit Selection Shortest Holding Period Fixed Income Wealth Management Product A" ranks second with a net value growth rate of 3.63% and a maximum drawdown of 0.05%, with approximately 70% of assets in bonds and the remainder in cash, bank deposits, interbank certificates, and equity investments [6] Market Outlook - Zhongyou Wealth Management anticipates limited upward space for interest rates, with factors such as US-China trade issues and changes in market risk preferences likely to continue affecting the bond market in the short term [6] - Zhongyin Wealth Management notes that the current absolute yield levels in the bond market are still low, predicting a continued oscillation in the bond market for the fourth quarter [7] - The management plans to reduce portfolio duration and leverage, expand assets with coupon protection, and selectively increase convertible bond allocations to enhance yield flexibility [7]