Core Insights - The performance of mixed financial products has been outstanding this year, with the highest unit net value growth rate approaching 36% [1][2] - The recovery of the equity market and the emergence of structural opportunities in various sectors have contributed to the strong performance of mixed financial products [2] - There is significant growth potential for mixed financial products as deposit interest rates continue to decline, prompting financial institutions to enhance their equity research capabilities and innovate product offerings [1][4] Performance Metrics - As of November 27, over 90% of mixed financial products have shown positive unit net value growth this year, with 11 products exceeding a 20% growth rate, the highest being 35.97% [2] - The average annualized returns for mixed financial products over the past week and month are 13.21% and 6.62%, respectively, reflecting increases of 112.44 and 35.32 percentage points compared to the previous quarter [2] Market Position - The total outstanding scale of mixed financial products reached 749.19 billion yuan, accounting for 2.37% of the total bank wealth management market, with an increase of nearly 160 billion yuan since the end of January [3] Strategic Development - Financial institutions are actively developing mixed financial products to meet diverse investor needs, especially in a declining deposit interest rate environment [4] - Challenges include increasing product homogeneity, stricter regulatory requirements, and conservative risk preferences among bank wealth management investors [4] - Recommendations for financial institutions include promoting diversified asset allocation, enhancing research capabilities, and focusing on sectors like technology growth and alternative fixed-income assets [4]

Core Insights - The mixed-asset financial products are gaining popularity due to their high return potential and effective risk diversification, becoming a focal point for both investors and institutions [1][4] - The market for mixed-asset financial products is expanding significantly, with a notable increase in both returns and market size [2][3] Summary by Category Performance Metrics - As of November 21, four mixed-asset financial products have achieved returns exceeding 20% over the past six months, while 17 products surpassed 15%, with some nearing 40% [1] - The average annualized return for mixed-asset financial products over the past seven days and one month is 13.21% and 6.62%, respectively, reflecting increases of 112.44 basis points and 35.32 basis points from the previous quarter [2] Market Growth - The total outstanding scale of bank wealth management products reached 32.13 trillion yuan as of September 30, 2025, marking a 4.76% increase from 30.67 trillion yuan on June 30, 2025 [3] - The market size of mixed-asset financial products has grown to 670.50 billion yuan, a 40.69% increase from 476.25 billion yuan at the end of the previous year, significantly outpacing the 12.72% growth of fixed-income products [3] Strategic Recommendations - Institutions are encouraged to promote diversified asset allocation and product innovation to enhance product flexibility and meet diverse investor needs [4] - The development of financial technology is expected to improve smart advisory services and dynamic asset allocation, enhancing management efficiency and customer experience [4] - Institutions should focus on green finance and sustainable investment opportunities, leveraging policy support to capture new growth prospects [4]