Xin Lang Cai Jing·2026-03-23 09:41Core Viewpoint - Agricultural Bank of China is facing legal issues due to allegations of mis-selling a high-risk fund, leading to significant losses for a customer [2][20]. Group 1: Fund Mis-selling Incident - A customer, Ms. Li, claims that in July 2021, she was persuaded by a bank employee to deposit 10 million yuan into the bank under the pretense of a safe investment, which was later used to purchase a high-risk fund named "Oriental Quality Consumption One-Year Holding Period Mixed A" [2][20]. - As of November 2024, this fund has incurred losses exceeding 5.79 million yuan, and Ms. Li alleges that the bank failed to fulfill its risk disclosure obligations [20]. - The court dismissed Ms. Li's lawsuit, stating that she had signed multiple risk disclosure documents and had sufficient investment experience to understand the risks involved [20]. Group 2: Fund Performance and Fees - The "Oriental Quality Consumption One-Year Holding Period Mixed A" fund, established on July 8, 2021, has seen its net asset size decline from 3.5 billion yuan at inception to 630 million yuan by the end of 2025, with a cumulative loss of over 63% since its establishment [3][22]. - Agricultural Bank has collected a total of 1.526 million yuan in custody fees for this fund over four years, with an annual custody fee rate of 0.20% [21][25]. - The fund's management fees are set at 1.20% per year, and it has not distributed any dividends since its inception [22][23]. Group 3: Agricultural Bank's Wealth Management and Fund Custody - As of the end of 2025, Agricultural Bank's public fund custody scale has surpassed 2 trillion yuan, ranking it among the top ten fund sales institutions in China [11][30]. - The bank's net income from fees and commissions reached 51.441 billion yuan in the first half of 2025, marking a year-on-year increase of 10.1%, with a significant rise in agency business income by 62.3% [33][34]. - The bank emphasizes the importance of compliance in fund custody and sales to ensure sustainable development amid ongoing wealth management business transformation [35].