6月27日，招银理财官网发布公告称，公司董事会同意聘任董方为公司总裁，至董方总裁任职资格获得 国家金融监督管理总局核准之日前，由其代为履行总裁职责。 招银理财向南都·湾财社记者表示，董方作为招商系金融管理人员，深度参与了招商银行资管业务体系 搭建与财富管理创新，又具备公募基金行业的前沿经验，对财富管理及资产管理行业有着专业积淀和深 刻洞察。董方的加盟，有望深化以"固收+"为代表的全产品线布局，夯实招银理财投资研究核心竞争 力，加速招银理财向"全能型资管机构"的转型升级。 值得一提的是，董方的履新也是近期"招商系"金融机构高层人事变动的重要一环。5月19日，招商基金 发布高级管理人员变更公告显示，公司总经理徐勇因个人原因离任，由招银理财总裁钟文岳接任。 6月3日，招商证券公告显示，经董事会全票表决通过，聘任招商银行原副行长朱江涛为总裁，任期至第 八届董事会届满之日止。此前，招商证券前任总裁吴宗敏已于5月初到龄退休；5月23日，招商银行公告 亦显示，朱江涛因工作原因已辞去副行长职务。 随着董方履新招银理财，招商证券、招商基金与招银理财已陆续完成重要人事调整。 公开资料显示，招银理财成立于2019年11月，是国内首 ...

Core Insights - The report focuses on the performance of mixed and equity wealth management products, highlighting their recent trends and key performers [1] Mixed Products Performance - The average net value growth rate for mixed wealth management products with a duration of 3 months or less is 0.64%, slightly outperforming similar "fixed income + equity" products [6] - Among 262 mixed products, 28 have negative growth rates in the last 3 months, accounting for 10.69% [6] - Top performers include "Zhaoyue Quantitative Hedge FOF No. 1" with a growth rate of 3.23% and "Ningyin Balanced Incremental State-owned Enterprise Dividend No. 6" at 3.10% [6] Equity Products Performance - The average net value growth rate for equity wealth management products over the past year is 12.54%, with an average maximum drawdown of 13.96% [9] - The top ten equity products are dominated by Huaxia Wealth and Everbright Wealth, showcasing their strong performance [9] - Notable products include "Beiying A-share New Opportunity Phase 2" and "Beiying A-share New Opportunity Private Banking Exclusive Phase 1" with growth rates of 9.38% and 8.98% respectively [9] Highlights of Specific Products - Huaxia Wealth's index-linked equity products have shown strong performance, with four products exceeding a 30% growth rate over the past year [10] - The product tracking the Micro-plate Growth Low Volatility Index has surged nearly 50% in the past year [10] - However, some products have experienced significant volatility, with maximum drawdowns exceeding 20% and annualized volatility over 40% [10] - There is a notable disparity in returns among industry index-tracking products, with some achieving high returns while others report negative returns, such as "Tiangong Daily Open Wealth Management Product No. 7" and "Tiangong Daily Open Wealth Management Product No. 1" with growth rates of -0.74% and -1.08% respectively [10]

Core Insights - The report focuses on the performance of three categories of wealth management products: "Fixed Income + Equity," mixed-type, and equity-type products Group 1: "Fixed Income + Equity" Products - The "Fixed Income + Equity" products are defined as public offerings with investment cycles of 6 to 12 months, showing positive returns for each complete month over the past year [2] - The top three products in this category are: - "Stable Enjoyment Dynamic Wisdom Daily Open 5" from Jiao Yin Wealth Management with a net value growth rate of 5.95% - "Qiming Enhanced Weekly Enjoyment 1" from Ping An Wealth Management with a growth rate of 5.65% - "Annual Year Xin Shortest Holding Period 5" from Pu Yin Wealth Management with a growth rate of 5.29% [6] - Jiao Yin Wealth Management's product has a significant portion of its funds (about 70%) allocated to cash and bank deposits, with the rest mainly in bonds and a small portion in public funds [6] Group 2: Mixed-Type Products - In the mixed-type public offerings with investment cycles of 3 months or less, the top products include: - "Rui Ying Preferred Balance 10" from Xing Yin Wealth Management with a net value growth rate of 6.43% - "Fu Li Xing Cheng Alpha Daily Open 1A" from Xing Yin Wealth Management with a growth rate of 4.37% - "Zhao Yue Quantitative Hedge FOF No. 1" from Zhao Yin Wealth Management with a growth rate of 3.31% [12] Group 3: Equity-Type Products - The average net value growth rate for equity-type public wealth management products over the past year is 8.16%, with an average maximum drawdown of 15.72% [16] - The top three products in this category are: - "Tian Gong Daily Open 5 (AI Computing Power Index)" from Hua Xia Wealth Management with a growth rate of 54.81% - "Tian Gong Daily Open 2 (Digital Infrastructure Index)" from Hua Xia Wealth Management with a growth rate of 44.82% - "Sunshine Red ESG Industry Selection" from Guang Da Wealth Management with a growth rate of 30.08% [16] - Notably, four products recorded negative returns over the past year, with the largest decline being 16.07% for Guang Da Wealth Management's "Sunshine Red Health and Safety Theme Selection" [16]

在黄金热度居高不下的背景下，多家理财公司上新挂钩黄金期权的理财产品。 4月24日，光大理财又推出面向不特定机构投资者的阳光青臻盈5期（黄金挂钩策略），产品为固定收益类，80%以上 资产投资于固定收益类品种，衍生品投资为挂钩黄金AU9999的场外期权，场外期权采用黄金看涨自动赎回结构。投 资策略同样为，主要通过投资存款、存单、债券等固定收益类资产获取相对稳定的基础收益，同时以基础收益上限为 限通过场外期权方式参与衍生品投资，在控制下行风险的同时，保留收益弹性。 另外，中邮理财于4月24日至5月6日发行鸿锦封闭式2025年第7期黄金自动触发策略，产品为固定收益类产品，主要投 资于货币市场工具、债券等固定收益类资产，衍生品部分挂钩上海金现货合约的自动触发期权。 值得注意的是，近期金价波动，多家理财公司新发黄金类理财产品，招银理财、光大理财、中邮理财均于上周推出挂 钩黄金衍生品的结构化理财产品，结构包括看涨鲨鱼鳍、二元看涨等。 据梳理，招银理财于4月23日至4月29日发行招睿焦点联动稳进黄金鲨鱼鳍11号固收类理财计划，产品设置A份额、HR 份额、V份额、ZX份额、C份额，产品为固定收益类，不低于80%资金投资于固定收 ...