通证券2026年度策略; 聚力长期,配置未来 银行理财多元配置新探索与 期资金入市展望 11月6日下午 北京 · 中国大饭店 · 多功能厅6AB 会议亮点 本次论坛将紧扣"聚力长期、配置未来"主题,深入探讨在利率 下行与市场波动加剧的背景下,银行理财如何依托多元化策略与 科学配置体系,有效提升投资效能与风险抵御能力。重点聚焦长 期资金入市新路径,解析如何借助公募、私募基金等工具,优化 大类资产配置,在风险与收益的动态平衡中把握市场机遇,助力 理财资金稳健增值与行业可持续发展。 议程安排 ● 13:40-13:50 致词 路 颖 - 国泰海通证券研究与机构业务委员会副总裁、研 究所所长 ● 13:50-14:35 宏观变局下的长期资产配置策略 特邀嘉宾 - 财富管理战略研究专家 ● 14:35-15:15 红利固收益,科技创奇迹—量化策略在资产配置中的应用 朱晓康 - 杭州龙旗科技创始人、首席投资官 ● 15:15-15:50 居民资产配置方向:现状、复盘及展望 马婷婷 - 国泰海通证券银行研究首席分析师 ● 15:50-16:35 主持人:倪韵婷-国泰海通证券基金评价与研究首席分析师 王 旭 民生理财 副总裁 ...

Core Insights - A new round of interest rate cuts has emerged among small and medium-sized banks, with several banks lowering or preparing to lower deposit rates since October [1] - The net interest margin for banks continues to narrow, with figures reported at 1.52% at the end of last year, 1.43% at the end of Q1 this year, and 1.42% at the end of Q2 this year [1] Group 1: Investment Recommendations - Investors are advised to consider diversified or low-volatility bond assets in a low-interest-rate environment [1] - Increasing the allocation to equity assets is recommended, focusing on companies with high growth potential and stable, high dividend yields [1] - Other asset classes such as real estate and gold should also be considered [1] Group 2: Specific Asset Suggestions - Credit bond ETF (511200) is highlighted for its short to medium duration, low fees, and high credit quality [2] - Free cash flow ETF (159201) is noted for its suitability in the current high-quality economic growth phase, low fees, and being the largest in its category [2]

Group 1 - The long-term trend of low interest rates makes safe-haven assets essential in investment portfolios, especially in the current macroeconomic environment [1] - The ten-year government bond ETF (511260) offers a relatively attractive annualized return of 4% in a low-interest-rate environment, making it a suitable investment for ordinary investors [1] - The ten-year government bond is considered a more balanced and stable asset class compared to the thirty-year bond, providing transparency and T+0 trading advantages [2] Group 2 - This year presents a favorable opportunity for all market investors to participate in the ten-year government bond ETF (511260), meeting both individual and institutional investment needs [2] - The macroeconomic and liquidity environment is favorable for the bond market in the long term, although short-term volatility may occur in June, presenting investment opportunities [2] - The ten-year government bond ETF (511260) is suitable for various institutional investors, including pension funds and insurance companies, due to its liquidity and trading opportunities [2]

Group 1 - The public REITs market has seen a significant increase, with multiple products triggering temporary suspensions due to high cumulative gains, reflecting strong demand for quality high-yield assets in a low-interest-rate environment [1][2][3] - As of May 16, 2023, the cumulative increase for the Jiashi Wumei Consumption REIT reached 72.47%, while the Zhongjin Xiamen Anju REIT saw a 70.85% increase, leading to a one-day suspension starting May 19 [2][3] - A total of 25 announcements for temporary suspensions due to excessive gains have been made this year, with the Guotai Junan Jinan Energy Heating REIT triggering suspensions four times since its listing [1][3] Group 2 - The average increase for the 65 listed public REITs this year is 15.17%, with 63 of them achieving positive returns [4][5] - Notable performers include the Huawan Bailian Consumption REIT and Huaxia Dayuecheng Commercial REIT, both of which have seen gains exceeding 40%, with the former nearing a 50% increase [5] - The average distribution yield for the top-performing consumption infrastructure REITs has decreased to 3.8%, with a spread of 2.2% compared to the average yield of 10-year government bonds [5]