理财产品收益“注水”？业界呼吁规范业绩展示

Core Viewpoint - The article highlights the issue of "inflated" returns on bank wealth management products, calling for standardized performance disclosures to protect investors and enhance industry integrity [2][3]. Group 1: Causes of Inflated Returns - Multiple factors contribute to the inflation of returns on wealth management products, including the strategic placement of high-performing returns on promotional platforms while downplaying poorer performance [4]. - Some banks artificially boost short-term returns to enhance product rankings, leading to discrepancies between advertised and actual performance [4]. - The underlying reasons for these practices include a focus on scale-driven growth, the mismatch between risk preferences of clients and net value management, and the challenges posed by a low-interest-rate environment [5][6]. Group 2: Industry Response and Recommendations - There is a call for the industry to standardize performance disclosures, ensuring that performance benchmarks are seen as reference targets rather than guaranteed returns [8][9]. - Recommendations include providing historical performance data, enhancing risk disclosures, and shifting towards a client-centric service model that focuses on asset allocation solutions [9][10]. - The industry is encouraged to innovate in multi-asset strategies and develop transparent, low-cost index products to improve return resilience while managing volatility [9][10]. Group 3: Investor Awareness - Investors are urged to recognize that the implementation of new asset management regulations has eliminated the concept of guaranteed returns, emphasizing the principle of "seller responsibility, buyer risk" [9][10]. - A proper understanding of performance benchmarks is essential, as they serve as reference points rather than guaranteed outcomes, influenced by various macroeconomic factors [9][10]. - Investors should evaluate the market representation and transparency of indices linked to products, as well as the overall performance and risk management capabilities of the product managers [10].