股债波动中显优势：“固收+”跑赢纯固收，榜首产品涨幅超9%

Core Insights - The article discusses the performance of wealth management products in 2025, highlighting the top 10 public products based on net value growth rates and their respective risk metrics [1][6]. Group 1: Product Performance - The top 10 wealth management products all achieved a net value growth rate of over 5%, with the top two products, "信颐2041" from 信银理财 and "阳光金24M增利2号" from 光大理财, exceeding 8% [7]. - The average yield of "固收+" products was 2.35% in 2025, outperforming pure fixed-income products which had an average yield of 2.11%, indicating a 24 basis points advantage [6]. - The "固收+权益" products, a core category of "固收+", also performed well with an average yield of 2.33% in 2025 [6]. Group 2: Risk Metrics - The maximum drawdown for the top products was kept below 2%, with "信颐2041" and "阳光金24M增利2号" both maintaining a maximum drawdown of 1.30% and 1.13% respectively [2][7]. - The product "睿盈年年升3号B" from 兴银理财 had a net value growth rate of 7.84% but exhibited a relatively higher maximum drawdown compared to other top products [7]. Group 3: Investment Strategies - "信颐2041" is designed for retirement investors around 2040, adjusting its asset allocation based on the investor's income and risk preference, with a conservative approach as the retirement date approaches [8]. - The product's investment strategy includes leveraging bond assets for stable returns and a maximum equity allocation of 20%, with a performance benchmark of 4%-6% [8]. - The product's quarterly performance showed significant growth, particularly in Q3 2025, where it achieved a net value growth rate of 5.65%, largely due to increased allocations in equity assets and public funds [8]. Group 4: Market Trends - The article notes a "股债跷跷板" effect in 2025, where the bond market initially thrived in a low-interest environment but adjusted as stock markets strengthened, leading to a shift in investment strategies [6][10]. - The year 2025 is characterized as a transformative period for bank wealth management, emphasizing the importance of diversified strategies in volatile markets [10].