21世纪资管研究院研究员 唐曜华 实习生 姜博文 近期股市气势如虹，8月22日更是突破3800点，债市则持续震荡，呈现冰火两重天的景象，股债"翘翘板"效 应持续显现。不少固收类产品投资者在网上吐槽收益又绿了，而含权比例高的理财产品则净值涨势喜人。 理财通评评"理"第47期继续测评银行热销产品，本期测评北京银行APP京选理财推荐的一款混合类产品：秋系列瑞盈60天持有期1号（多元）A类。8月22日 APP显示，该产品已有6427人次购买。 这是一款多元配置策略的 混合类理财产品，理论上权益类资产投资比例可以达到很高，不超过80%就行，不过这只产品8月15号后净值却连跌三天，8月18日、19日、20日净值均出现 下跌，跟股市创10年新高的火热行情似乎不太相符。跟很多买了固收类产品的投资者的悲伤则较为相似。 ["秋系列瑞盈60天持有期1号(多元配置策略)理财产品A"净值走势] 这可能跟该产品权益类投资青睐优先股策略、市场中性策略等，同时把权益多头仓位控制在比较低的水平有关。今年二季度末该产品投资的权益类资产里超 过80%为优先股，权益多头仓位中枢控制在1%左右。权益多头仓位低可能导致该产品受益股市不明显，而债市最近出 ...

Core Viewpoint - The article discusses the growing trend of ESG (Environmental, Social, and Governance) investment products, highlighting the performance of the "Agricultural Bank's Craftsmanship · Dynamic 360-Day ESG Themed Wealth Management Product" as a notable example in the market [1][3]. ESG Product Overview - Agricultural Bank has been a significant issuer of ESG products, launching 44 and 29 ESG-themed wealth management products in 2024 and 2023, respectively [3]. - As of January 2025, the ESG-themed bank wealth management product market shows high concentration, with Agricultural Bank and Xinyu Bank leading in product quantity [3]. - The current scale of existing ESG products from Agricultural Bank is approximately 704.95 billion [3]. Performance Metrics - The average return for ESG-themed products with a one-year investment cycle was 3.2% in 2024 and 2.11% in 2023 [3]. - The "Craftsmanship · Dynamic 360-Day ESG Themed Wealth Management Product" achieved a return of 5% last year, with a recent annualized return of 5.21% [3][11]. - Over the past three months, the product's annualized return was 2.24%, which is considered average [3]. Risk and Return Analysis - The product's performance benchmark is set at 3.9%, while its annualized return since inception is 3.4%, falling short by 0.5 percentage points [3][14]. - The product's risk control score is 91, while its risk-adjusted return score is 26, indicating a relatively high risk control but lower risk-adjusted performance compared to peers [7]. Investment Strategy - The product primarily invests in fixed-income assets, with at least 80% allocated to such assets and a maximum of 20% to equity and other non-fixed income assets [11]. - The investment strategy focuses on green and sustainable industries, with a flexible approach to adjusting equity allocations based on market conditions [21][22]. Comparative Performance - The product ranks 157th in terms of yield score among 471 similar products, outperforming 55.41% of its peers [7][9]. - Recent performance metrics indicate that the product has outperformed a significant portion of similar products over various time frames, including 87.9% over the past month [14].