Core Viewpoint - Banks are increasingly adjusting the risk levels of mutual fund products they distribute, with several banks, including China Construction Bank and Minsheng Bank, making multiple adjustments this year to align with market conditions and regulatory requirements [1][3][4]. Group 1: Bank Adjustments - China Construction Bank has announced a batch increase in the risk levels of 87 mutual fund products, marking the fourth adjustment this year [1][3]. - Minsheng Bank has also made four similar adjustments since October, with the latest announcement on November 18 regarding eight lower-risk fund products being raised to medium risk [1][3]. - Postal Savings Bank has adjusted the risk levels of 86 mutual fund products in two recent announcements [1][4]. Group 2: Reasons for Adjustments - The adjustments are attributed to a combination of mutual fund product characteristics, market conditions, and regulatory guidance, which aim to reduce the risk mismatch between investors and products [1][4]. - Changes in investment strategies and asset allocations of certain funds have increased their net value volatility, prompting institutions to reassess the risk-return alignment [4]. - Regulatory frameworks, such as the Asset Management New Regulations, are reinforcing the core requirement of "risk matching," compelling institutions to establish dynamic risk rating mechanisms [4][5]. Group 3: Future Implications - The adjustments may become a regular practice as banks are required to dynamically assess product risks to fulfill their suitability obligations and protect investor interests [5]. - Short-term impacts may lead conservative investors to redeem their investments due to increased risk levels, while long-term benefits include enhanced risk transparency and reduced risk mismatch [5][6]. - This shift is expected to drive the wealth management industry towards a service-oriented model, encouraging fund companies to improve their research and investment capabilities [5][6].