In the investment market, "mini" funds are more common, but with the expansion of the issuance scale of financial management products, there is also no shortage of "mini" financial management products. A recent investigation by a reporter from Beijing Business Daily found that most financial products currently have a fundraising scale of tens of millions of yuan on the day of establishment. However, there are also many financial products with a fundraising scale of less than ten million yuan. There are also financial products with a fundraising scale of 0 yuan on the day of establishment.
Although financial products do not have a lower limit on the scale of fundraising, operating a financial product usually requires a certain amount of manpower and resource costs. Financial management companies will also actively take measures to promote financing by reducing rates or focusing on recommendations in the future. "Mini" financial management operates normally.
Many products have been established with a scale of less than 10 million
"mini" financial management products have appeared frequently. Recently, a reporter from Beijing Business Daily found that since the beginning of the year, many financial management companies such as BOC Financial Management, CCB Financial Management, Bank of Communications Financial Management, CMB Financial Management, Ping An Financial Management, Bank of Shanghai Financial Management, Qingyin Financial Management, and Huihua Financial Management have launched products. On the day of establishment, some financial products raised less than 10 million yuan, and some even handed over "answer sheets" with no raised amount on the day of establishment. "Mini" financial management products such as
are usually short-term open-ended financial products. For example, the "CMB Wealth Management Zhao Ying Ri Ri Jin No. 42 Cash Management Financial Plan", "CMB Wealth Management Zhao Ying Ri Ri Jin No. 46 Cash Management Financial Plan" and "CMB Wealth Management Zhao Ying Ri Ri Jin No. 46 Cash Management Financial Plan" under CMB Wealth Management The amount raised on the day of the establishment of the "No. 47 Cash Management Financial Plan" product was only over 6 million yuan; the amount of funds raised on the day of the establishment of the "Jianxin Bao Daily Open Net Value Financial Product No. 19" under CCB Financial Management It is only 5,000 yuan; and the "Bocom Wealth Management's stable cash plus profit (exclusive version)" series of financial products established by BoCom Wealth Management on February 22 all raised 0 yuan on that day.
In addition to conventional financial products, exclusive categories or individual shares are more likely to create "mini" financial products. Taking Ping An Wealth Management as an example, "Ping An Wealth Management Qiyuan Stable Profit (7-day holding) No. 6 fixed-income financial product" and "Ping An Wealth Management Qiyuan Stable Profit (30-day holding) No. 6 fixed-income financial product" belong to Northbound Tong is a non-specialized financial product with a product scale of only one million yuan. Qingyin Financial's "Qingyin Financial Brilliant Life Achievement Series RMB Personal Financial Plan 2024 Issue 014 (Exclusive for New Financial Customers)" and "Qingyin Financial Brilliant Life Achievement Series RMB Personal Financial Plan 2024 Issue 02 (exclusive for new financial customers)" The product's fundraising scale is less than 10 million yuan; while the product scale of Shanghai Bank of China Financial Management's "Bank of China Financial Management Tiantianli No. 4 FM Share" was established on the day of its establishment, the scale was 0 yuan.
Regarding the reasons for the small scale of financing products and their current operation, on February 26, a reporter from Beijing Business Daily interviewed the aforementioned financial management company. Among them, the relevant person in charge of CMB Financial Management responded that the company’s fundraising scale Smaller financial management products are mainly cash management products and other daily open-end net worth financial products. These products are open for subscription every day. Most of the main funds for the product are purchased after the establishment, so it is normal to raise less funds. It will not affect the investment operation of the products. The current scale of the three financial products mentioned above is more than 100 million yuan, and the products are operating in good condition.
The relevant person in charge of Ping An Financial Management stated that the aforementioned two financial management products are holding period products. The products have no issuance scale restrictions and have now entered the normal operation stage as planned.
According to Liu Yinping, an analyst at Rong360 Digital Technology Research Institute, there are many reasons for the small scale of financing products, including poor product design, insufficient promotion and publicity, limited target groups, and a sluggish investment environment.
How “mini” financial management counterattacks
Although financial management products do not have a lower limit on the fundraising scale, the product instructions usually clarify that "the product manager can adjust the upper and lower limits of the product scale according to the market and product operation conditions" or only set an upper limit on the issuance scale. , no lower limit is specified.
However, operating a financial product usually requires a certain amount of manpower and resource costs. Bu Zhenxing, a specially invited expert from Nancai Wealth Management, said that the establishment of a new financial product requires a lot of manpower and material costs. The product department and operations department , investment department, channels, etc. all need to be involved.Once the fundraising scale is less than expected, the establishment may be canceled. If the scale continues to be poor, it may be liquidated.
Therefore, when financial products have a small fundraising scale, financial management companies will also actively take measures to promote the normal operation of "mini" financial management by reducing interest rates or focusing on recommendations in the future. A reporter from Beijing Business Daily learned from an insider of a financial management company that financial products with a small product scale during their duration need to be analyzed on a specific basis. For example, some products are small in scale, but they are in the strategic cultivation period and are used to prepare product reserves for future market opportunities. Therefore, although they are small in scale, they are still being promoted. Some products are small in scale, which may be due to adjustments in regulatory policies or changes in the market environment, which makes it difficult for the products to continue to operate. For these products, based on the analysis and judgment of the market conditions, the products will be strategically modified or liquidated in advance, etc.
A reporter from Beijing Business Daily noticed that the "BOC Wealth Management-Yixiang Tiantian No. 8" established on January 25 had a maximum fundraising scale of 300 billion yuan, and the fundraising scale on the day of establishment was only one million yuan. In this regard, from January 25 to February 24, Bank of China Wealth Management launched a rate discount for this product, with the fixed management fee reduced from 0.15% to 0.05%, and the sales rate of product A share reduced from 0.3% to 0.15%.
According to past situations, there have also been cases of “unfavorable starts and counterattacks” in “mini” financial management. For example, the “BoCom Financial Management Stable Cash Plus (Benefit Edition) No. 11 Financial Management” was established on September 25 last year. "Product" raised an amount of 0 yuan on the day of its establishment, but it is still on sale and is a key hot-selling product. The current seven-day annualized return rate of the product is 2.59%, and the upper limit of product scale was raised on February 23, from 10 billion increased to 3 billion yuan.
“Individual financial products may not raise large amounts of funds at the beginning of their establishment, but during subsequent operations of the products, the investment returns will be good and the net value will be relatively stable. If financial institutions increase the promotion of their products, such products will gradually be favored by investors. Pay attention and it will become a hot-selling product." Liu Yinping believes that the phenomenon of "mini" financial products will be more common in the future, and financial management companies must improve product research and development capabilities, increase the construction of agency sales channels, and strengthen net worth management capabilities.
Bu Zhenxing suggested that investment managers should devote more resources and energy to "mini" financial management. "Mini" financial management products are expected to appear in the future. Financial management companies need to do good product performance to attract customers. In addition, they should also increase relevant Product promotion efforts.
Beijing Business Daily reporter Li Haiyan
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