Core Insights - The article discusses the performance of pure fixed-income public funds issued by wealth management companies with investment periods of 2-3 years, highlighting that 83.09% of these products achieved positive returns in each quarter over the past year [5]. Overall Performance - As of August 28, 2025, the average net value growth rate for these products over the past year is 3.2%, with an average maximum drawdown of 0.22% [5]. Highlighted Product Analysis - The top-performing product is "Fuzhu Fixed Income Stable Three-Year Closed No. 2A" from Minsheng Wealth Management, which achieved a net value growth rate exceeding 5% over the past year, with a maximum drawdown of only 0.02% [6]. - The second product, "Fuzhu Fixed Income Preferred 25-Month Closed No. 4Q," also from Minsheng Wealth Management, has nearly 50% of its holdings in non-standard debt assets, with a total non-standard asset ratio of 46.88% as of mid-year [6]. - The third product, "Happiness 99 Abundant Fixed Income 23003 Period (Stable Low Volatility) FYG23003D" from Hangyin Wealth Management, has a high concentration in its top ten holdings, accounting for about 90%, with an expected annualized yield of approximately 5.31% as of August 29 [6].

Overall Performance - As of July 24, the average net value growth rate for public pure fixed-income wealth management products with an investment cycle of 2-3 years was 3.37%, with an average maximum drawdown of 0.22%. This represents a decrease of 0.07 percentage points compared to June 12 [8] - 72.3% of the pure fixed-income products achieved positive quarterly returns over the past year, with 55 products (counting each share separately) having a net value growth rate of 4%, accounting for 5.9%. Among these, Hangyin Wealth Management dominated with 27 products [8] Highlighted Product Analysis - The "Multi-color Xiangxin Dividend Three-Year Closed 31" product from Xinyin Wealth Management primarily invests in domestic bonds, non-standard assets, and overseas Chinese dollar bonds, with a fixed-income asset investment ratio of no less than 95%. The A share achieved a yield of 4.44% for the entire year of 2024, with a net asset value of 50.7692 million yuan as of mid-2025 [9] Cash Management Products - The average annualized yield for public cash management products over the past six months was 1.510%. Only 40 public cash products had an annualized yield exceeding 2%, accounting for just 0.89% [15] - The top-performing cash management product, "Qiyuan Cash No. 5 J," achieved an average annualized yield of 2.893% [15] "Fixed Income + Options" Products - The average net value growth rate for public "fixed income + options" wealth management products over the past six months was 0.8%, equivalent to an annualized yield of only 1.6%. Notably, 34 products experienced negative net value growth, although the declines were minimal, with the highest being -0.42% [20] - The top three products in this category were "Xinxing Index Enhanced No. 1 One-Year Open" from Ping An Wealth Management (2.96%), "Zhaoyin Global Asset Momentum Two-Year Open No. 10 A" (2.85%), and "Zhaoyin Global Asset Momentum Fourteen-Month Open No. 8 A" (2.21%) [21]