全市场仅1只国有行理财子“固收+期权”产品近三月收益为负

Core Insights - The report highlights the performance of public "fixed income + options" wealth management products, with a total of 208 products currently in existence as of November 20, 2025, showing an average net value growth rate of 1.92% over the past three months [5] - The top ten performing products include five from China Merchants Bank Wealth Management, two from Xingyin Wealth Management, two from Bank of Communications Wealth Management, and one from Industrial and Commercial Bank of China Wealth Management [5] - Only one product, the "Xinyue Private Banking Exclusive CSI 1000 Shark Fin Strategy Fixed Income Closed (25G6075B)" from Industrial and Commercial Bank of China, reported a negative return of -0.34% over the past three months [5] Performance Summary - The average maximum drawdown for the products over the last three months is 0.28% [5] - Three products in the top ten have achieved a net value growth rate exceeding 3%, with China Merchants Bank and Xingyin Wealth Management each contributing two products [5] - The "Xinyue Private Banking Exclusive" product has experienced two significant net value drawdowns since its inception, with the first occurring from August 13 to August 20, 2025, and the second from November 5 to November 12, 2025 [6][8] Product Details - The "Xinyue Private Banking Exclusive" product has an annualized return of 2.47% since its inception, surpassing the lower limit of its performance benchmark [8] - The product's strategy involves a combination of fixed income assets and financial derivatives linked to the CSI 1000 index, primarily investing in monetary assets and call options [8] - The product will continue to track the performance of both fixed income and derivative assets to gradually accumulate returns [8]