2024年12月银行业理财市场月报：理财规模稳中有升，目标盈类理财增幅较大

Investment Rating - The report does not explicitly provide an investment rating for the banking wealth management industry Core Insights - The banking wealth management market showed steady growth, with the total scale reaching 29.95 trillion yuan by the end of 2024, an increase of 11.75% from the beginning of the year [10] - The average yield of wealth management products was 2.65%, generating a total return of 709.9 billion yuan for investors, which is a 1.69% increase year-on-year [10] - The number of non-principal guaranteed wealth management products issued in December 2024 was 2,933, reflecting a year-on-year increase of 1% and a month-on-month increase of 13.6% [18] - Target return wealth management products saw significant growth, with 248 products issued in 2024, a 170% increase year-on-year, and a total scale of approximately 40 billion yuan, up 253% [6] Summary by Sections Regulatory Policies and Asset Management Market News - By the end of 2024, there were 218 banking institutions and 31 wealth management companies with active products, totaling 40,300 products [10] - Financial regulatory authorities issued a notice on December 10, 2024, requiring wealth management subsidiaries to refrain from manipulating product net value fluctuations [12] Wealth Management Market Monthly Overview - The total scale of wealth management products reached 29.95 trillion yuan, with a 10.56% year-on-year growth in investment assets [10] - The proportion of open-ended wealth management products was 80.8%, while closed-end products accounted for 19.2% [11] Non-Principal Guaranteed Wealth Management Products - In December 2024, the issuance of non-principal guaranteed products included 2,756 fixed-income products, 46 mixed products, 17 equity products, and 2 commodity and financial derivatives products [19] - The average performance benchmark for fixed-income products was 2.78%, while mixed products averaged 2.79% [22] Wealth Management Subsidiary Products - In December 2024, wealth management subsidiaries issued 1,946 products, with 1,883 being fixed-income products [23] - The performance benchmark for fixed-income products with absolute values was 2.19% for products under 3 months and 3.22% for those over 3 years [25] Product Tracking - Target Return Products - The number of target return products increased significantly, with 238 products remaining active by the end of December 2024, maintaining an average scale of around 150 million yuan per product [6]