The "defense war" of wealth management: After the interest rate is reduced, the three types of products may be "supplemented".

The 21st Century Economic Herald reporter Ye Mai Sui Guangzhou reported that after the state -owned banks and joint -stock banks have lowered the regular deposit interest rate, many small and medium banks have recently joined the deposit interest rate to reduce the "camp".

Recently, the reporter learned from a number of banks that some small and medium -sized banks have begun to adjust ordinary regular deposit interest rates to varying degrees. Among them, the three -year and 5 -year interest rates have been reduced by more than 20 basis points. With the reduction of deposit interest rates, the income of bank wealth management products has also declined. How should investors win the "defense war" of wealth?

"In the middle of this month, our bank began to adjust interest rates. In addition to the 3 -year regular deposit interest rate, most of the other varieties have dropped by 10bp. The three -year large deposit bills with relatively high interest rates have also dropped from 3.25%to 3.1 %. "Said the financial manager of a state -owned bank.

Observe the overall situation of the market. With the decline in deposit interest rates, the yield of most bank wealth management products has also lowered.

The report from Chen Shaoxing, an analyst of Xingye Securities, shows that the annualized return on each period of all market wealth management products in the fourth week of September is: 1.15%in 1 month, 3.44%in 3 months, 3.73%in 6 months, and 4.18 in 1 year. %. Compared with the previous week, the expected yield of 3 months of wealth management products decreased by 0.19%, the expected yield of 6 months of wealth management products decreased by 0.02%, and the expected yield of one -year wealth management products increased by 0.07%.

Faced with the decline in the yield of bank wealth management products, which products can be relayed or replenished, which has become the focus of investors' care. At present, there are three types of products that can successfully make up the deposit interest rates after the decline.

Insurance products with wealth management functions

With the decline in bank deposit interest rates, some insurance products with wealth management functions have begun to become popular. Among them, the annual financial insurance and agreed interest rate can reach 3.5%of the incremental life insurance products are the most concerned.

CEO of Snail Insurance Broker Shang Mengmeng said in an interview with the 21st Century Business Herald that the reduction of deposit interest rates will directly benefit insurance with long -term savings functions, such as incremental lifelong life, and some pension gold products. Among them, people with educated age products are more suitable for people with health and long life span, so that they can provide sufficient funds for subsequent pensions. Because it is received according to life, the longer the time, the higher the overall income compared to the deposit interest rate. It is estimated that until the age of 90, the long -term yield can reach 4%. The disadvantage is that the amount received each year is fixed, and the amount cannot be received according to the actual needs of the user. Especially when a large expenditure is required during the pension stage, it may be difficult to satisfy.

The increase of lifelong life insurance has the advantages of most of the pension, which can help achieve long -term savings functions. In the short -term demand, it can also solve the need to receive on demand by reducing insurance. Because the policy stipulated in the contract is 3.5%, the annual order profit can be reached about 6%according to the calculation of 30 years. For the people, if there is a relatively long and long-term needs of children's education expenditure, marriage funds, and entrepreneurial funds, if there is no particularly urgent need for funds around 5-10 years, the increase of life insurance through the increase is equivalent to the overall return rate far away. Long -term savings higher than deposit interest rates. Especially in the pension stage, this money can solve large expenses, and at the same time, it can also ensure stable value -added, which can basically solve the pension needs of most people.

However, incremental life insurance has its own shortcomings. Because of both insurance and financial management, its price is more expensive and less guaranteed. In addition, the liquidity is poor. If the funds need to be flowing within 5 years, it is not recommended to buy it, otherwise it will face large asset losses in advance.

High dividend bank stock

At present, the valuation of bank stocks is low, and nearly 90%of the banks are in a net state. The overall valuation has reached a historical low. The current average dividend rate is more than 6%. Good financial replacement products.

Xia Fengjing, the manager of Rongzhi Investment Fund, a subsidiary of Pai Pai.com, told reporters of the 21st Century Business Herald that the current bank stocks are worthy of attention. There are three main reasons: First, the valuation of bank stocks is in a very low position, and some bank stocks have even set the lowest level of history. Second, bank stocks have a lot of dividends, and some state -owned banks have average dividends of more than 6%, which is in sharp contrast to bank wealth management yields below 2%. Third, the increase in the increase of major shareholders or executives will help passing positive signals to the market and boost market confidence. At present, although the effect of increasing holdings is not obvious, it still has a certain role. Bank stocks have relatively anti -declines, and they have come out of relatively excess returns. Banks have the characteristics of high leverage operations and relatively close macroeconomic linkages. The macroeconomic data in August has improved initially, and the continuous reduction of deposit interest rates will also help alleviate the pressure on bank liabilities. If the macro fundamentals improve in the fourth quarter, bank stocks may usher in the repair of valuation.

In addition, there are market sources that the deposit interest rate will be reduced may benefit the bank sector.

The Research Report of Guangfa Securities stated that since the end of last year, one or two months after each LPR adjustment of the asset side, bank stocks have a phased rebound. The decline in interest rates at this debt reflects the adjustment of the benchmark interest rate of the financial system from quarterly to monthly continuous, confirming the comprehensiveness and continuity of the interest rate reduction cycle, similar to the comprehensive interest rate cut in November 2014, which also indicates that the fourth quarter policy increases probability Larger, it is expected that bank stocks will have a large level of investment opportunities.

REITS Fund Public Raiders REITs has become the "Xiangxiang" of the entire market.

As of September 29, there were 17 public offering REITs products that have been successfully listed in the market, and 3 REITs have been released but have not been listed. Due to the smooth operation of the public offering REITs issued in the early stage, such products have been sought after by institutional investors, and online subscription multiples have repeatedly renewed.

Three REITs, which have not been listed, are Huaxia Hefei High -tech REIT, Guotaijun Antongjiu New Economy REIT and Guotai Junlin Port Innovation Industrial Park REIT, all of which were newly released in September. Among them, the subscription amount of the two public offerings of Guotai Junan Management was 85.6 billion yuan and 72.7 billion yuan, respectively.

According to the announcement of the Huaxia Fund, the proportion of the distribution ratio of Huaxia Hefei High -tech REIT public sale is 0.23%, and the public offering REITS public offering ratio will be refreshed again.

Guolian Securities analyst Zhu Renmu said that the development of REITs in my country has officially started in 2021. At present, there are 17 domestic REITS products and 3 projects. The total raised scale has reached 54.143 billion yuan. Since 2022, the third batch of REITS products industry has increased. In addition to industrial parks, highways, warehousing and logistics, ecological and environmental protection, the first underlying assets have been added to the public offering REITs for clean energy infrastructure, and three three -piece lease of affordable lease Housing is REITs of underlying assets. On the whole, the market has good expectations for cash flow elasticity or stability of energy category, warehousing, logistics, and leased housing, with an average issuance premium rate of more than 7.8%. REITs has a significant investment value when the stock and bond market weaken. Compared with the experience of overseas nearly ten years, REITs has the characteristics of anti -inflation and decentralization risks.

(Coordinating: Ma Chunyuan)

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