券商中国·2025-11-26 08:55Core Insights - Commercial banks are actively adjusting the risk ratings of mutual funds they sell, with a significant increase in the number of funds affected, indicating a proactive approach to risk management in the current market environment [2][3] - Banks are also offering promotional activities, such as reduced subscription fees for mutual funds, to enhance sales during the year-end peak season, reflecting a competitive strategy to attract investors [5][6] Group 1: Risk Rating Adjustments - On November 25, China Construction Bank announced an increase in the risk ratings of 87 mutual fund products, marking the largest adjustment in two years, with 32 funds upgraded from R2 (medium-low risk) to R3 (medium risk) and 55 funds from R3 to R4 (medium-high risk) [2] - This adjustment is part of a broader trend, as several banks, including Minsheng Bank and CITIC Bank, have also revised the risk ratings of their mutual fund offerings multiple times throughout the year [3] - The reasons for these adjustments include regulatory requirements, market conditions, and changes in target customer profiles, aimed at ensuring accurate risk assessments for investors [3] Group 2: Promotional Activities - Many banks, including Industrial and Commercial Bank of China and Minsheng Bank, have launched promotional activities offering discounts on subscription fees for certain mutual funds, with some fees reduced to as low as 10% of the original rate [5] - These promotional efforts are part of a broader strategy to boost sales during the year-end peak season, with reports indicating that some branches have exceeded their sales targets significantly [6] - The fee discount structure varies among banks, with options including no discount, 50% off, 10% off, and even full waivers, allowing branches to tailor their offerings based on sales needs [5] Group 3: Wealth Management Trends - As deposit rates decline and residents become more aware of wealth management options, banks are intensifying their efforts in selling mutual funds and other asset management products [1][6] - The trend towards increased sales of wealth management products is reflected in the growth of fee and commission income for many banks, with some reporting year-on-year increases exceeding 10% [6] - Analysts suggest that the changing landscape of deposit rates and the aging population will likely lead to a higher allocation of assets towards mid-to-high-risk financial products [7]