Why is financial management with a guaranteed rate of return of more than 6% a liar? Are products with a rate of return below 6% necessarily reliable? How should ordinary people choose financial products?
Wealth management products have different income types.
It is understood that according to the type of income, all personal investments can be basically divided into three categories: guaranteed income, guaranteed floating income and non-guaranteed floating income. Stocks and funds are typical non-guaranteed floating income investments. Judging from Lou Jiwei's statement, ensuring a rate of return of more than 6% is obviously a guaranteed income type.
In real life, financial management with guaranteed income mainly includes bank deposits, savings-type treasury bonds and financial products with guaranteed income provided by various financial institutions, among which bank financial products with guaranteed income are the most common.
At present, the deposit interest rates of various banks are floating on the basis of the central bank's benchmark interest rate. Take one-year time deposit as an example. At present, the interest rate of bank deposits is generally between 1.95%-2. 1%. Savings bonds's rate of return, which has always been popular with elderly customers, is also fixed. According to the data, the seventh and eighth issues of 20 17 issued in June165438+1October last year (voucher type) are fixed-term varieties with a maximum issue amount of 36 billion yuan. The seventh phase is 654.38+08 billion yuan, with a term of 3 years and an annual interest rate of 3.9%.
The yield of guaranteed income bank wealth management products is significantly higher than that of deposits and national debt. Generally speaking, the product yield of small banks is higher than that of big banks, the products with long maturity are higher than those with short maturity, and the income level of non-guaranteed floating income products is higher than that of guaranteed income products. The author inquired from Rong 360 that the yield of non-guaranteed floating bank wealth management products sold in Shijiazhuang area is generally around 5.2%, while the guaranteed income wealth management products are generally around 4.3%.
"Sometimes you can buy products with an annualized income of 6% in banks. There are also many trusts, brokers who collect wealth management and internet financial products, and the actual rate of return is over 6%. Are they all lies? "
For this question of consumers, financial experts pointed out that if these products are provided by formal institutions, there is definitely no guarantee of income from the terms of the contract, and investment risks must be prompted. It's just that the product runs well, so the ideal expected income is finally realized. But this does not mean that its expected income is protected by law. In other words, if these products lose money or fail to achieve the highest income expected before, investors can't ask financial institutions to compensate, but only take their own risks.
Therefore, if someone recommends a wealth management product to investors, and the contract dares to state in black and white that the risk-free guaranteed income exceeds 6%, it can be considered as fraud as Lou Jiwei said. Because it violates the high-risk and high-yield market rules, many P2P and illegal fund-raising have done this before. Investors can receive guaranteed income on time in the early stage, so they gradually lose their vigilance, which not only increases the principal but also attracts relatives and friends to participate. Finally, the institutional capital chain broke, and investors drew water with a sieve.
Future investment and financial management will break the rigid redemption.
In the past few years, trusts and banks have also issued many high-yield products. Although there is no promised income in the contract, both the financial institution itself and investors "tacitly" think that they can definitely pay. Therefore, even a few products without risk are finally "guaranteed" by financial institutions to achieve "rigid redemption". In the interview, the author also found that up to now, although the risks of products are clearly indicated in the contract in black and white, there are still many people who sign the product contract without careful reading.
In fact, this kind of rigid redemption, which violates the laws of the market, seems to protect the interests of investors in the short term, but it paralyzes the pain of financial institutions and investors to risks and damages the overall health and vitality of the asset management market. In the long run, once systemic risks occur, the consequences will be terrible.
It is worth noting that the regulatory authorities have made up their minds to break the rigid redemption. In the future, those products that do not guarantee the principal and income may really lose money.
2017117 The People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission, the China Insurance Regulatory Commission and the foreign exchange bureau jointly issued the Guiding Opinions on Regulating the Asset Management Business of Financial Institutions (Draft for Comment), clearly proposing to break the rigid payment.
The asset management products involved in this document include, but are not limited to, non-guaranteed wealth management products of banks, fund trust plans, asset management products issued by securities companies, subsidiaries of securities companies, fund management companies, fund management subsidiaries, futures companies, subsidiaries of futures companies and insurance asset management institutions.
The document clearly pointed out that financial institutions should strengthen investor education, constantly improve investors' financial knowledge and risk awareness, convey the concept of "the seller is responsible and the buyer is responsible" to investors, and break the rigid payment.
Financial products should be selected according to risk tolerance.
At present, the new asset management regulations are only a draft for comments, and there is still a transition period from formal implementation. Investors can temporarily choose financial products according to the current principles. However, whether the new regulations are implemented or not, investors should choose investment and financial management tools according to their own risk tolerance.
Generally speaking, wealth management products with fixed income and risk levels of R 1 and R2 can reach the expected maximum rate of return in most cases. Even if it is a non-guaranteed bank wealth management product, the actual income compliance rate is over 99%. Priority can be given to joint-stock banks or large city commercial banks, and the yield of the same type of wealth management products is relatively high.
It should be noted that most wealth management products with annualized rate of return over 5.5% on the market may not be suitable for ordinary investors to buy. Most of these wealth management products have the following three characteristics: first, structured wealth management or floating income wealth management has certain risks, which may not necessarily lead to high returns; Second, the investment period may be long, such as 2 to 3 years, and the liquidity is too poor; Third, the starting threshold may be relatively high.
If the new regulations are formally implemented, everyone should also change the previous concept that bank wealth management must be exchanged, and strictly distinguish between guaranteed bank wealth management products and non-guaranteed bank wealth management products when purchasing. The latter has no rigid payment, and the risk of loss is greatly increased; For non-guaranteed bank wealth management products, we should pay attention to their asset investment and corresponding risk levels, and choose products with appropriate risk levels according to their own risk tolerance. (Hebei Daily Comprehensive)