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假如你赚了几百万,最先要做的不是买豪车豪宅,而是下面这几件事
Sou Hu Cai Jing· 2025-09-27 16:03
很多人一辈子最大的梦想,就是有一天能突然拥有几百万现金。有人可能靠生意挣到了第一桶金,有人 可能靠股票、基金、房产意外获利,还有人可能靠机遇一夜翻身。 可现实中,真正能守住财富的人,往往不是赚得最快的那一批,而是懂得如何花钱、如何配置财富的 人。 为什么?因为钱来得快,也去得快。你可能见过有人中了彩票,没几年就花光了;也见过有人做生意赚 大钱,几年后一贫如洗,甚至负债累累。 所以,假如有一天你突然赚到几百万,请记住:最先要做的,不是买豪车、买豪宅,而是下面几件事。 一、先保证安全:把钱分散,别放在一个篮子里 人一旦突然有了钱,最容易犯的错误,就是把钱放在一个地方不动,或者冲动地投入到所谓的"机 会"里。 正确的做法是: 财富到手的第一步,不是如何让它快速翻倍,而是如何确保它不会轻易消失。 分散存放:一部分放银行,一部分放在不同的理财工具里; 保证流动性:留够至少半年到一年的生活费用,防止突发事件; 避免冲动投资:别听信谁介绍的"稳赚不赔"项目,往往都是坑。 二、买保障,而不是买奢侈品 很多人一有钱,第一反应就是换豪车、买大房子,结果没过几年又陷入资金紧张。其实,最该优先做 的,是买保障。 1. 完善保险: 给 ...
企业年金二季度“成绩单”出炉:投资资产净值约3.8万亿元 近三年累计收益率为6.27%
Mei Ri Jing Ji Xin Wen· 2025-09-10 16:17
| 3. 投资管理情况 | | | --- | --- | | 投资资产净值(亿元 ) | 38,142.88 | | 建立组合数(个 ) | 5.987 | | 近三年累计收益率(%) | 6.27 | 分组合来看,在单一计划中,有1418个固定收益类组合,期末资产金额为3337.57亿元,近三年累计收益率为10.49%;有4208个含权益类组合,期末资产金 额为3.09万亿元,近三年累计收益率为5.84%。 | 计划类型 | 组合类型 | 期末组合数 | 期末资产金额 | 近三年累计收益率 | | | --- | --- | --- | --- | --- | --- | | | | (个) | (亿元) | (%) | | | 单一计划 | 固定收益类 | 1,418 | 3.337.57 | | 10.49 | | | 含权益类 | 4.208 | 30,867.16 | | 5.84 | | | 合计 | 5,626 | 34,204.73 | | 6.22 | 近日,社会保险基金监管局披露了二季度全国企业年金的基本情况。记者注意到,截至二季度末,全国企业年金投资资产净值约3.8万亿元,近三年累计收 ...
申万宏源发布2025年半年度业绩
申万宏源证券上海北京西路营业部· 2025-09-03 03:08
Core Viewpoint - The company has achieved significant growth in its operating performance in the first half of 2025, with a consolidated revenue of 11.695 billion and a net profit of 4.284 billion, reflecting a year-on-year increase of 44.44% and 101.32% respectively [2] Group 1: Capital Market Development - The company remains optimistic about the development prospects of the Chinese capital market and actively supports its stability and expectations [4] - As one of the first financial institutions to participate in the central bank's swap facility, the company has been instrumental in maintaining market stability and providing liquidity support to various market segments [4][5] - The company is focused on internationalization and high-quality financial services to support the Belt and Road Initiative, assisting four companies in going public in Hong Kong and completing 114 overseas bond projects [4][5] Group 2: Investment Banking Performance - The company has successfully advanced quality investment banking projects, achieving a net income of 627 million from investment banking fees, a year-on-year increase of 49.12% [7] - The company ranks 7th in the industry for equity underwriting and 6th for bond underwriting, with historical highs in both categories [7][8] Group 3: Wealth Management Transformation - The company’s wealth management transformation is driven by customer needs, resulting in a 44.32% increase in net income from agency trading to 2.011 billion [10] - The number of retail clients has increased significantly, with over 10 million clients and a total of 4.77 trillion in client assets under custody [10] Group 4: Research and Innovation - The company has developed a comprehensive research system integrating investment, industry, and policy research, enhancing its professional and customized services [13] - The company has also seen growth in its FICC sales and trading business, maintaining a competitive edge and expanding its product offerings [14]
申万宏源上半年归母净利润同比增长101.32%
Zheng Quan Ri Bao Wang· 2025-08-30 03:22
Core Insights - The company reported a significant increase in revenue and profit for the first half of 2025, with total revenue reaching 11.695 billion yuan, a year-on-year growth of 44.44%, and net profit attributable to shareholders at 4.284 billion yuan, up 101.32% [1] Investment Banking Business - The investment banking segment achieved a net income of 627 million yuan from fees, reflecting a year-on-year increase of 49.12% - The company ranked 7th in the number of equity underwriting cases, with 5 IPOs, ranking 3rd in the industry - The bond underwriting scale reached 169 billion yuan, ranking 6th, with 441 main underwriting cases, also ranking 7th, both achieving historical highs [1] Wealth Management Business - The wealth management transformation is driven by customer needs, focusing on product and service innovation - Retail customer numbers increased, with high-net-worth clients ranking among the industry leaders, achieving net income of 2.011 billion yuan from agency trading, a growth of 44.32% - The total number of clients exceeded 10 million, with securities client assets reaching 4.77 trillion yuan, further solidifying the client and asset base [2] Research Business - The company developed a comprehensive research system integrating investment, industry, and policy research to enhance depth and breadth - A unified portal named "Yi Wan Qi Yuan" was launched to assist institutional clients in navigating market complexities and demands - The company generated 216 million yuan in seat leasing income, with increased trading shares for funds and insurance [3]
公募养老产品 一季度收益分化显著
Xin Hua Wang· 2025-08-12 06:26
Core Insights - The total net asset value of registered pension products reached 1.96 trillion yuan by the end of Q1, with a quarterly investment return rate of -1.61%, indicating significant divergence in returns among different pension products [1][2] - Despite the negative quarterly performance, the cumulative return rate of pension products remains stable from a medium to long-term perspective [2] Group 1: Pension Product Performance - As of the end of Q1, there were 649 registered pension products, with 603 actively operating, including 196 equity products, 371 fixed-income products, and 36 money market products [2] - The cumulative investment return rate for pension products since inception is 26.54%, while the Q1 return rate was -1.61%, with both equity and fixed-income assets experiencing losses [2] - Nearly 20 equity pension products saw a decline exceeding 20% in Q1, with specific products like Hai Fu Tong Value Preferred Stock Pension Product reporting a return of -29.90% [2][3] Group 2: Fund Company Performance - Some fund companies' equity products performed well in Q1, with returns exceeding 3% for products like Fu Guo Fu Xiang Stock Pension and Fu Guo Fu Sheng Quantitative Hedge Stock Pension [3] - Historical performance shows that many pension products have positive returns since inception, with Silver Hua Qian Li Stock Pension achieving a cumulative return of 235.5% since March 2014 [3] Group 3: Pension Financial System Development - The pension financial system is improving with new policies from the China Banking and Insurance Regulatory Commission, which provide guidance on commercial pension financial business [4] - The number of pension target funds has increased, with 173 funds established as of May 29, and a total fund size of 106.275 billion yuan [4] Group 4: Future Outlook - The demand for pension investments is expected to surge with the implementation of personal pension systems, attracting attention from financial institutions [5] - Securities firms and public funds are well-positioned to leverage their research capabilities to design products that appeal to higher-risk clients, although they face challenges in independent sales capabilities [5]
产品供给不断丰富 资本市场更好服务养老金融
Zheng Quan Ri Bao· 2025-08-10 16:40
Group 1 - The scale of pension products has surpassed 2.4 trillion yuan, with the personal pension fund catalog expanding to 297 funds, indicating a significant growth in the supply of pension financial products [1][2] - The implementation of the "Opinions on Capital Market to Serve Financial 'Five Major Articles'" has led to a phase of effectiveness in the capital market's service to pension finance, addressing the bottlenecks and pain points of medium and long-term capital entering the market [1][2] - The demand for diversified pension financial products is increasing due to the growing pressure of pension payments caused by an aging population, necessitating financial innovations such as commercial pension insurance and pension wealth management products [2][3] Group 2 - As of the end of Q1 2025, there are 649 registered pension products, with 573 actively operating and a total scale of approximately 2.42 trillion yuan, achieving a cumulative return rate of about 33.46% since inception [2] - The number of personal pension public fund products has steadily increased, providing investors with more diverse investment options, with 297 funds included in the personal pension fund catalog as of June 30, 2025 [2][3] - Fund of Funds (FOF) products dominate the personal pension fund category, with 212 out of 297 funds being FOFs, which include 83 target date funds and 129 target risk funds [3] Group 3 - The capital market has begun to show results in promoting the stable appreciation of pension financial products, with specific products like ICBC Pension 2035A and Harvest Pension 2040 Five-Year A achieving net value growth rates of 30.86% and 23.41% respectively over the past year [3] - Challenges remain in attracting investors to personal pensions, including insufficient tax incentives and doubts regarding the investment returns and liquidity of pension FOFs [3][5] - Some institutions have launched intelligent advisory systems, such as the "Pension Calculator" by Huaxia Fund, to automatically adjust portfolios based on life cycles [4] Group 4 - The introduction of pension REITs (Real Estate Investment Trusts) is anticipated, which could serve as a new link between the capital market and the real pension industry, supported by local policies encouraging capital market involvement in the construction and development of pension facilities [6][7] - The market shows high interest in silver economy projects, particularly in the areas of pension services and healthcare, with various local governments establishing special investment funds to promote the development of the pension industry [7] - There is a recognized need for patient capital with long-term investment characteristics to match the requirements of the pension industry, which currently faces a supply-demand gap [7][8] Group 5 - The capital market is entering a critical window period for serving pension finance as the personal pension system is fully implemented, necessitating the construction of a "policy-market-product" linkage system [8] - Future developments should focus on improving tax incentives at the policy level, cultivating a long-term investment culture in the market, and developing pension financial products that align with lifecycle characteristics [8]
年金基金动态引关注 人社部出台调整范围通知
Zheng Quan Ri Bao Wang· 2025-08-08 06:59
作为我国养老金制度的"第二支柱",年金基金的动态备受市场关注。去年年底,人社部出台了关于调整 年金基金投资范围的通知,距离通知发布1个多月的时间,《证券日报》记者调查发现,已经有部分基 金公司积极响应,相继修改旗下养老金产品的合同条款。 中国国际经济交流中心经济研究部副部长刘向东对《证券日报》记者表示,年金基金提高入市比例释放 出增加在资本市场配置资金的信号,反映出资本市场的保值增值配置功能增强,在进一步完善相应风险 管控规则的基础上,未来更多养老金入市将成为现实。 5只港股养老金产品获批 投资范围扩大 值得关注的是,此次人社部发布《通知》还规定了年金基金财产的新投资范围,限于境内投资和我国香 港市场投资。其中,香港市场投资指年金基金通过股票型养老金产品或公开募集证券投资基金,投资港 股通标的股票。此次投资范围中新增优先股、资产支持证券、同业存单、永续债、国债期货等金融产品 和工具,并调整明确了相关投资品种的投资要求和估值方式等。 这意味着自今年1月1日起,规模超3万亿元的年金基金的投向中可以有港股通股票,方式是要通过公募 基金和养老金产品去间接投资港股。 年金基金提高入市比例进入实操阶段 2020年12月3 ...
2025年第二季度养老金融产品市场数据
Sou Hu Cai Jing· 2025-08-07 09:16
Group 1 - The core viewpoint of the article emphasizes the comprehensive implementation of the personal pension system in China, which began on December 15, 2024, and the inclusion of index funds in the personal pension product range [3][11][51] - As of early July 2025, there are 1,060 personal pension products available, with 932 currently on sale, including 466 savings products, 134 insurance products, 35 wealth management products, and 297 fund products [3][11] - The total scale of pension products reached 24,236 billion yuan by the first quarter of 2025, with 573 pension products actively in operation [2][4] Group 2 - The personal pension savings products are issued by 23 banks, with a total of 466 products, maintaining the same number as the previous quarter [12][13] - The average interest rates for various term savings products are as follows: 1-year term at 1.29%, 2-year term at 1.39%, 3-year term at 1.73%, and 5-year term at 1.77% [14][16] - The macro-prudential ratings of 23 banks show that major state-owned banks have a strong rating, with several banks rated five stars [19] Group 3 - The personal pension insurance products include 134 products currently for sale, with 80 being annuity insurance products, which increased by 27 from the previous quarter [20][21] - The distribution of personal pension insurance products shows a variety of types, including traditional, dividend, and universal insurance products [22] - The sales channels for these insurance products have expanded to include internet sales, with an increase in the number of products sold online [22] Group 4 - The personal pension wealth management products have seen growth, with 35 products available as of June 30, 2025, and the average yield for products that have been in operation for over a year is 3.22% [25][27] - The risk levels of these wealth management products are primarily categorized as medium to low risk, with 23 products rated at level two and 12 at level three [25] - The wealth management market has expanded significantly, with a total sales amount exceeding 9 billion yuan for personal pension wealth management products [24] Group 5 - The personal pension fund products consist of 297 products, including 212 fund-of-funds (FOF) and 85 index funds, with a notable increase in the number of products from the previous quarter [33][36] - The average yield for FOF products that have been in operation for over a year is 8.87%, indicating strong performance [40] - The risk levels of fund products are concentrated in the medium risk category, with the majority falling into R2 and R3 risk levels [39]
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].
全国企业年金基金规模突破3.7万亿元
Sou Hu Cai Jing· 2025-06-16 12:50
Core Insights - The national enterprise annuity fund's net investment assets exceeded 3.7 trillion yuan as of Q1 2025, with a cumulative return of 7.46% over the past three years [1][2]. Group 1: Enterprise Annuity Fund Data - As of the end of Q1 2025, the net investment assets of the national enterprise annuity fund surpassed 3.7 trillion yuan, with a cumulative return of 7.46% over the last three years [2]. - The investment returns for the enterprise annuity fund in 2023 and 2024 were 1.21% and 4.77%, respectively [3]. - In single plans, there were 1,422 fixed income portfolios with an asset amount of 331.24 billion yuan and a cumulative return of 10.8% over three years; 4,113 equity-inclusive portfolios had an asset amount of approximately 2.99 trillion yuan with a cumulative return of 7.13% [3]. Group 2: Fund Management Scale - Fund companies E Fund and ICBC Credit Suisse both surpassed 310 billion yuan in management scale, reaching 311.8 billion yuan and 315.1 billion yuan, respectively, showing significant growth from the end of 2024 [3]. - Only Southern Fund had a management scale between 200 billion yuan and 300 billion yuan, increasing from approximately 246 billion yuan at the end of 2024 [3]. - Fund companies with management scales between 100 billion yuan and 200 billion yuan include Huaxia Fund and Fortune Fund, with minor increases in their management scales [4]. Group 3: Pension Products Data - As of Q1 2025, there were 573 pension products with a net asset value of approximately 2.4 trillion yuan, and the quarterly investment return was 0.58% [5]. - The investment return for ordinary stock-type pension products was 1.68%, while the return for Hong Kong stock-type products reached 7.48% in Q1 2025, despite a cumulative return of -28.05% since inception [5]. - Fixed income assets showed a mixed performance, with mixed-type products having a net asset value of 493.05 billion yuan and a return of 0.51%, while ordinary-type products had a net asset value of approximately 1.26 trillion yuan and a return of 0.38% [5].