Trust wealth management expected yields fell by 60 %. In August, only 57 listed companies in August placed orders. The subscription amount was cut year -on -year.

China Times (chinatimes.net.cn) reporter Liu Jia Beijing report

Listed companies have always maintained a enthusiasm for trust wealth management products, but the decline in the expected return of trust wealth management has also caused this enthusiasm to decline.

According to Wind data, as of August 25, 57 listed companies purchased trust wealth management products during the year, and the total purchase amount exceeded 10.9 billion yuan. The reporter of Huaxia Times found that the yield of trust wealth management products fell by about 60 % during the peak period. The number of listed companies subscribed by one -third is a year -on -year, and the subscription amount is also close to the "chopping" compared with the same period last year. In August, only six listed companies issued an announcement for buying trust wealth management products.

A trust practitioner told the reporter of Huaxia Times that during the peak period, most of the yields of trust wealth management products could reach about 12%. Now, compared with it, high returns have become history. "Most of the trust products purchased by listed companies are expected to be between 4.00%-6.00%, and there are fewer trust products with an annualized return rate of 7%or more."

Listed companies are keen on trust financial management

In recent years, the purchase of bank wealth management has become the mainstream, and it has also favored the trust wealth management products, but the enthusiasm has fallen significantly.

Wind data shows that 6 listed companies announced in August to purchase trust wealth management products. Among them, Keli Sensing purchased 40 million yuan of "Lujiazui Trust · Shi Xixi No. 1 Single Fund Trust Plan" and "COFCO Trust No. 17" with its own funds. The yield is 6.6%.

Yongan Pharmaceutical purchased 30 million yuan of "Yunnan Trust-Guotai Junan Tianyingbao Phase I Phase 1 Collection Trust Program" and 10 million yuan of "Yuecai Trust · Suixinyi No. 1 Getting Fund Trust Plan" with their own funds. The two products periods are about 90 days, and the minimum rate of return is expected to be 4%.

Green Island Wind purchased 10 million yuan of "Ping An Trust Junxiang Huajun June June June Trust Trust Plan" with its own funds. The product period is 190 days, and the minimum rate is expected to be 4.1%.

Meichang Co., Ltd. purchases the "Cunnanshan Bond Investment Collection Trust Program" issued by Changan Trust issued by its own funds. The subscription amount is 30 million yuan, and the product period is 91 days.

Tiandiyuan purchased the "Shaanxi Investment Creation Co., Ltd. Special Credit Collection Trust Program" with its own funds of 3 million yuan, which is expected to be 7.6%.

Bowen Technology purchased the "Ping An Trust Trust No. 3M-22 Collection Fund Trust Plan" with its own funds of 30 million yuan, with a product period of 91 days and an estimated minimum yield of 3.6%.

In addition, on August 20, China Resources Boya Biopharmaceutical Group Co., Ltd. issued an announcement saying that it was planned to use the owner of not more than RMB 100 million to purchase trust products from China Resources Trust. The announcement stated that the above quota can be rolled, and the period is valid within one year from the date of review and approval of the board of directors.

The type of trust and wealth management products is low -risk, non -guaranteed floating income type, risk level R2 level, expected yield is 4.50%, and the period of a single stroke of wealth management products does not exceed 6 months.

"Huaxia Times" reporter combined in August the trust product yield, with an average value of about 4.9%.

The aforementioned practitioners analyzed the reporter of Huaxia Times that the relative equity market in the bond market in the first half of the year performed well. Therefore, among the trust products held by listed companies, there are generally low -risk products (such as bonds). The fundraising of the standard products of standard products plays a supporting role.

"The 6 -month -old product, the expected yield is about 4.5%, should be a short debt product. This income is relatively high." The person told the "Huaxia Times" reporter.

However, according to the monthly report of the Trust wealth management market in Puyi Standard, the average yield of the due product is about 7.8%, which is generally higher than the newly issued product yield.

For the reason, Yang Jianchao, a researcher at Puyi Standard, told the reporter of the Huaxia Times that the decline in expected yields is also related to the decline in the number of real estate trusts.

"The yield of real estate trusts is generally higher, but the number of issuances has now decreased significantly. Trust products invested in basic industries have increased significantly, and such products have low risks and yields, which has lowered the average average product of new products. Return. "Yang Jianchao said.

Subscribed amount "back cut"

The decline in yields has also made listed companies buy trust wealth management products.

According to Wind data statistics, "Huaxia Times" reported that as of August 25, 57 listed companies had purchased trust wealth management products during the year, and the total purchase amount exceeded 10.9 billion. In the same period last year, 81 listed companies purchased trust wealth management products, with a total amount of over 22.7 billion yuan.

From the data point of view, the number of listed companies that purchase trust wealth management products decreased by nearly 30 % compared with last year, and the total subscription amount is close to "cutting".

Yu Zhi, a trusted researcher, told the reporter of the Huaxia Times that relatively speaking, the current high -quality trust projects that can be invested are relatively small, the yield rate is relatively obvious than the previous few years, and there are many default events. Therefore Sloped.

"Most trust companies have issued standards and trust products. Compared with public funds, bank wealth management products or structural deposits, there is no obvious advantage." Yu Zhi frankly said.

Not only that, the number of trust products and the number of establishment continued to decline. In July, a total of 54 trust companies issued 1857 collecting trust products, with a decrease of 222 issues, a decrease of 10.68%; 55 trust companies set up 2496 collecting trust products, which were established by 428, a decrease of 14.64%, a decrease of 14.64%. Essence

Yang Jianchao believes that since 2021, the risk of trust products has been accelerated and the risk assets of trust companies have increased. At the same time, the regulatory supervision is rigorous, and the risk of the trust company is required to clear the disposal, which will also reduce the number of new products.

In addition, from the perspective of the use of funds, the proportion of products invested in the real estate field in July was 0.92 percentage points, and the proportion of products invested in the field of securities investment rose 4.84 percentage points. "One drop and one liter" also reflects that the trust company is quietly changing in business transformation.

"Since 2021, the real estate market has been in a downward stage, and the operation of real estate companies has worsen. In this case, real estate trusts have repeatedly defaulted, which has brought great risks to trust companies, and new real estate trusts have naturally decreased. "Yang Jianchao said that at present, the trust companies are conducting standardized reforms. In the past two months, the financial market has recovered, and the number of bidding trusts invested in the financial market has increased. "

In the face of the widening of market financing costs and the continuous tightening of regulatory policies, Yu Zhi sighed, "Trust companies are more sad now, but most trust companies can still maintain it, but it still takes a certain amount of accumulation in the new business. At present, industry transformation will be transformed. There is still a certain consensus. "

Talking about the future development direction of the trust company, Yu Zhi pointed out that first of all, it is necessary to do a good job in the standard of the standard product, cultivate investment research teams, improve investment and research capabilities, and expand business scale; , Risk isolation, risk disposal, wealth management and other businesses, such as charitable trusts, family trusts, new social funds service trusts, etc.

"To accelerate the disposal of risk projects, the disposal of risk projects has a great impact on the overall brand image of the trust industry and subsequent development." Yu Zhi said.

Editor -in -chief: Meng Junlian Editor: Zhang Zhiwei

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