权益类资产投资

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“含权产品好卖了” 银行理财人感知股市回暖
Zhong Guo Zheng Quan Bao· 2025-09-17 21:23
"含权理财产品比以前好卖了。我们今年加大了对权益类资产的配置,尤其是7月以来,推出了多只'固 收+'理财产品,'+'的部分配置了不超过5%的权益类资产,主要是以公募基金为主。从收益来看,在近 期债市波动、股市回暖的背景下,含权理财产品的优势凸显。"某城商行资产管理部负责人告诉记者。 近期,得益于权益市场走强,含权理财产品的市场吸引力提升。与此同时,随着债市调整,纯债类理财 产品收益率有所下滑,这进一步凸显了含权理财产品的投资价值。 近年来,投资者对理财产品的风险认知不断强化、市场投资经验持续积累,含权理财产品的接受度随之 提高,这也为理财公司布局权益类资产增添了动力。 下一步,多家理财公司相关负责人告诉记者,将进一步加大权益投资布局力度,加快投研团队和能力建 设,调整内部激励机制;同时,聚焦服务实体经济发展和财富保值增值,为客户提供良好的产品持有体 验。 ● 本报记者 石诗语 权益类资产增厚收益 近期债市调整,导致以债券为主要配置资产的固收类理财产品净值出现波动。 "债市调整主要受市场情绪影响。从趋势上看,本轮调整导致债市迎来牛熊转换的可能性不是很大。"上 述城商行资产管理部负责人说,"机构投资者仍面临优质资 ...
锚定权益类资产 “基金买手”优化持仓结构
Shang Hai Zheng Quan Bao· 2025-08-06 18:33
Group 1 - The core viewpoint of the articles highlights that many fund advisory portfolios have adjusted their positions, favoring equity assets, particularly in technology and growth sectors, despite recent market fluctuations [1][2][3] - Fund advisory products have shown significant returns, with an average yield of 5.12% in July, outperforming the CSI 300 index by 3.54% [1] - A total of 141 fund advisory portfolios made adjustments in July, with a trend of reducing exposure to debt funds while increasing equity fund allocations [1][2] Group 2 - Many fund advisors remain optimistic despite recent market volatility, maintaining or increasing their investment amounts in response to market conditions [2] - There is a noticeable shift from passive to active funds, with more portfolios replacing passive funds with actively managed ones due to improved performance [2] - Specific sectors favored by fund advisors include pharmaceuticals, cyclical industries, and technology, while reducing exposure to consumer sectors [2][3] Group 3 - Some equity fund advisory portfolios have enhanced their "sharpness" by adjusting their holdings to increase aggressive positions [3] - Certain portfolios have opted to take profits and optimize their structures, indicating a proactive approach to market conditions [3] - The overall sentiment remains optimistic regarding the A-share market, with a focus on seizing short-term adjustment opportunities for further accumulation [3]
衍生品业务服务中国特色养老金融的探索|财富与资管
清华金融评论· 2025-07-13 09:10
Core Viewpoint - The article emphasizes the need to accelerate the development of the third pillar of pension insurance and implement a personal pension system in China, addressing structural challenges in pension finance and advocating for an increased allocation of equity assets in pension investments while utilizing derivatives for risk management [2][4]. Group 1: Structural Challenges in Pension Finance - China's aging population poses significant structural challenges to pension finance, with over 310 million people aged 60 and above by the end of 2024, accounting for 22% of the total population [5]. - The reliance on government funding is substantial, with over two-thirds of pension funds coming from government-led basic pensions and social security funds, while enterprise annuities and personal commercial insurance account for only 32.7% [6]. - The investment structure is heavily concentrated in fixed-income assets, with over 85% of pension products invested in such assets from 2021 to 2024 [6]. Group 2: Need for Increased Equity Investment - The current pension finance system is characterized by low marketization and a predominance of fixed-income assets, leading to low returns. As of June 2024, the actual contribution rate for personal pensions was only 22%, with only 25% of contributions being invested [8]. - The potential for the silver economy is significant, with projections indicating that its contribution to GDP will rise from 6% to 9% by 2035, necessitating an increase in equity asset investment to enhance overall pension returns and alleviate government financial pressure [9]. Group 3: Risk Management through Derivatives - Equity investments exhibit greater short-term volatility compared to fixed-income investments, which has contributed to the current focus on fixed-income assets in pension products [13]. - To mitigate risks associated with increased equity investments, it is essential to enhance the performance evaluation period for pension products and utilize financial derivatives for risk management, thereby improving the stability and growth of investment portfolios [12][13].
增持ETF等权益资产!多家万亿级理财公司出手
news flash· 2025-04-11 03:45
Group 1 - Several banks' wealth management companies are increasing their investments in ETFs and equity assets through direct and indirect methods [1] - Major wealth management companies such as Bank of China Wealth Management, Bank of Communications Wealth Management, China Post Wealth Management, and Shanghai Pudong Development Bank Wealth Management have announced their plans to increase holdings in ETFs and equity assets [1] - These companies are set to further enhance their investment efforts in the capital markets [1]