0费率理财产品涌现 机构盯上万亿存款搬家蛋糕

Core Viewpoint - The banking wealth management sector is experiencing a significant fee reduction trend in early 2026, with a surge in zero-fee and ultra-low fee products as banks aim to capture the influx of deposit migration funds [1][4]. Group 1: Fee Reduction Trends - Major state-owned banks, joint-stock banks, and city commercial banks are collectively lowering fixed management fees and sales service fees to gain market share [1][4]. - In January 2026, several banks, including China Merchants Bank, announced substantial fee reductions, with some products' fixed investment management fees dropping from 0.15% to 0.01% [2]. - Ningyin Wealth Management and Nanyin Wealth Management have also implemented extensive fee reductions across numerous products, with many service fees adjusted to zero [2][4]. Group 2: Market Dynamics - The current wave of fee reductions is driven by multiple factors, including the need to attract deposit migration funds and expand management scale, with an estimated 50 trillion yuan in fixed-term deposits maturing in 2026 [4]. - The competitive landscape is pushing institutions to focus on fee reductions as a strategy to enhance performance, especially at the beginning of the year [4][5]. - While fee reductions can enhance perceived investor returns, they may also compress profit margins for wealth management companies, raising concerns about sustainability in the long term [4][5]. Group 3: Core Competitiveness - Industry experts emphasize that while price competition can provide short-term relief, long-term success will depend on building core competencies [6][7]. - Key capabilities for wealth management firms include strong research and asset allocation skills, product innovation, efficient operations, and professional customer service [7]. - The wealth management market is expected to see growth in insurance, "fixed income plus" products, and private equity funds, with a projected growth rate of 8%-12% for wealth management scale in 2026 [7].