集团 21世纪经济报道 公司 "国收+期权" 品近6月业绩榜单 | ਹੈ। ਦੇ | 产品名称 | 管理人 | 净值增 长率 | 最大回撤 | 年化波动 ন্তুর | 卡玛 | | --- | --- | --- | --- | --- | --- | --- | | | 恒容沪深300 清水管边国际 收益类6个月 | 工银理财 5.15% | | 0.46% | 2.15% | 21.6875 | | | 定期开放 | | | | | | | | 招睿全球资产 动量两年定开 | 招银理财 | 4.90% | 1.04% | 2.50% | 9.3160 | | | 10号A款 | | | | | | | | 丰利兴动多策 略全球-钱潮 | 兴银理财 4.70% | | 0.35% | 2.40% | 26.2143 | | | 封闭式1号B | | | | | | | 4 | 丰利兴动多策 略全球配信封 | 兴银理财 | 4.67% | 0.42% | 2.38% | 21.6243 | | | 闭式5号B | | | | | | | | 独宣佛加娃劲 | | | | | | | 5 | GALEINNI ...

Overall Performance - The average net value growth rate of public "fixed income + options" wealth management products over the past six months is 1.17% [5] - A total of 145 "fixed income + options" wealth management products are currently in existence, with only 6 products showing negative returns in the range of -0.13% to -0.05% [5] - The top three products by net value growth rate are "Zhaorui Global Asset Momentum Two-Year Open 10th A" at 3.59%, "Hengrui CSI 300 Index Linked 6-Month Regular Open" at 3.43%, and "Zhaorui Global Asset Momentum Fourteen-Month Open 2nd A" at 2.63% [5] Highlighted Product Analysis - The "Sunshine Qingrui Leap Enjoy 20th Period (10-Year U.S. Treasury Yield Automatic Trigger Strategy) D" product has a performance benchmark of 0.01% to 4.10% and employs an OBPI-based options combination insurance strategy [6] - This product is linked to the 10-year U.S. Treasury yield, with the initial price set on March 3, 2025, and a trigger price of the initial price minus 30 basis points [6] - The product has 10 observation days, and if the price on any observation day is less than or equal to the trigger price, it will terminate early; otherwise, the performance benchmark will be 0.01% to 0.15% [7] - As of September 5, 2025, the annualized yield of this product has remained above 3% across various time frames, with a one-month annualized yield of 3.29%, a three-month yield of 3.25%, and a yield since inception of 3.15% [7]

Core Insights - The report focuses on the performance of public "fixed income + options" wealth management products over the past six months, highlighting the average net value growth and the number of products with negative returns [5][6][7]. Overall Performance - As of August 21, 2025, there are 156 "fixed income + options" wealth management products currently in existence, with an average net value growth rate of 0.39% over the past six months [6]. - Notably, 56 products, accounting for over 35%, reported negative returns in the same period, with the highest negative return reaching -1.08% [7]. Highlighted Products Analysis - The top three products in terms of net value growth over the past six months are: 1. "Zhaoyin Global Asset Momentum Two-Year Open 10th A Fund" by Zhaoyin Wealth Management with a growth rate of 1.82% [8]. 2. "Zhaoyin Global Asset Momentum Fourteen-Month Open 10th A Fund" by Zhaoyin Wealth Management with a growth rate of 1.71% [8]. 3. "Hengrui CSI 300 Index Linked" by ICBC Wealth Management with a growth rate of 1.47% [8]. - The "Sunshine Qingrui Leap Enjoy 18th Phase (10-Year U.S. Treasury Yield Automatic Trigger Strategy) I" by Everbright Wealth Management has a performance benchmark of 0.06% to 4.20% and employs an OBPI-based options combination insurance strategy, primarily investing in fixed income assets [8]. - As of August 22, this product achieved an annualized return of 5.04% over the past month, with a longer-term annualized return of 2.59% since its inception on December 11, 2024 [8].

Overall Performance - The average net value growth rate of public "fixed income + options" wealth management products over the past six months is 0.49%, which annualizes to below 1%, indicating poor performance [5] - As of August 7, 2025, there are 146 existing "fixed income + options" wealth management products, with 30.8% of them showing negative returns over the past six months [5] Highlighted Product Analysis - The "Puxiang Zenghui Closed-end No. 10 (Exclusive)" from Puyin Wealth Management has the highest net value growth rate of 5.39% over the past six months, with an annualized return of 4.65% since its inception [6] - The product has shown high volatility, with an annualized volatility of 5.33%, but has seen a rapid increase in net value since mid-April this year [6] Product Breakdown - The "Global Momentum Two-Year Open No. 10A" from Zhaoyin Wealth Management has a performance benchmark of 0.70% to 7.70%, investing at least 90% of its principal in fixed income assets [8] - The main contributors to the index's positive returns in the first half of the year include stocks and commodities, particularly gold and the German DAX, while bond assets contributed less [8]

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]

Core Insights - The report focuses on the performance of three categories of financial products: pure fixed income, cash management, and "fixed income + options" products [1][2] Group 1: Pure Fixed Income Products - As of July 17, 2025, the average net value growth rate for public pure fixed income products with an investment period of 1-2 years is 3.09%, with an average maximum drawdown of 0.23% [5] - 65.1% of the pure fixed income products achieved positive quarterly returns over the past year, with six products having a net value growth rate exceeding 4% [5] - The top three products in this category are: - Hangyin Wealth "Happiness 99增益固收(智享纯债)540天持有期" at 4.63% - Huaxia Wealth "Fixed Income Debt Type Closed 152号A" at 4.49% - Nanyin Wealth "珠联璧合鑫逸稳两年36期封闭式C" at 4.47% [5] Group 2: Cash Management Products - The average annualized yield for public cash management products over the past three months is 1.469%, with only 2.2% of products exceeding a yield of 2% [12] - The only cash management product with an average yield over 3% is Su Yin Wealth "启源货币2号(ESG主题)F" at 3.019% [12] Group 3: "Fixed Income + Options" Products - The average net value growth rate for "fixed income + options" products over the past three months is 0.95% [17] - The top two products in this category are: - Zhaoyin Wealth "招睿全球资产动量两年定开10号A款" at 2.75% - Ping An Wealth "鑫享指数增强1号一年定开" at 2.66% [17] - Zhaoyin Wealth's product employs a global asset allocation strategy, focusing on stable fixed income investments and has recorded a net asset value of 58.8838 million yuan as of mid-2025 [18]