The three characteristics of robustness, long-term, and praise – the first batch of pension and financial products "test water" this reporter Guo Ziyuan starts on December 6th, the first batch of pilot endowment wealth management products officially in Wuhan, Chengdu, Shenzhen, Qingdao Release.
Economic Daily reporters learned that as of now, the market recognition of pension and financial products is high, and there have been financial institutions that may increase the scale of raising according to subsequent sales.
From opening the pilot to the product landing, the older financial management is not 3 months, progress is remarkable.
On September 10, 2021, the China Silver Insurance Regulatory Commission issued the "Notice on the Pilot Pilot" of the old-age management products, " Light Dachers will conduct a pilot in Qingdao.
The first batch of pilot endowment wealth management products are closed net value products, with three significant features of "robustness, long-term, pramnographic", the start purchase amount is only 1 yuan, the dead is 5 years, the risk level is mostly medium, etc., Sub-purchase, redemption link is low.
"Next, the financial supervision department should sum up the pilot experience of pension and wealth management products, to promote to more regional and wealth management companies, and give full play to the positive older financial products to meet the public’s pension needs, improve the multi-level multi-pillar pension insurance system. effect.
"Zhiri, the chief researcher of Zeroven Finance, said.
Is it exclusive for older people? Which type investor is suitable for buying? Before the product is officially released, there is so wishes in the market.
In fact, individual investors with pension needs, pursuing a steady value of pension funds, is not limited to the elderly groups. "Encourage investors to accumulate in advance, starting to do pension plan from young, through medium and long-term strategy arrangements, mobilizing investors’ medium and long-term preventive investment needs.
"General Manager of Guangda Finance Pan Dong said.
Therefore, "long-term" becomes one of the characteristics of pension and financial management, the products sold by the four pilot institutions are closed, and the period is 5 years.
The relevant person in charge of the Bank of China said that it hopes to cultivate investors "long-term investment long-term income, value investment creative value, and prudent investment rationally return". Considering that the closure period may cause insufficient liquidity, some products have also set two special arrangements.
First, the investor holds a certain period of time (such as 6 months), can be divided in the quarter or by month; the second is to establish a "liquid emergency emergency response mechanism" under special situations, for example, when investors encounter a major illness, allowing predecessor redemption .
"Next, it should be aimed at the characteristics of pension and wealth management products, improve the transfer mechanism of wealth management products, to meet the liquidity management needs of some investors through marketization transfer.
Dong Xizhen said.
In addition to "long-term", pension financial management also has "Puyan" characteristics. From the threshold of the start purchase, the pick purchase amount is only 1 yuan, in order to cover the most extensive investment crowd; from the speech structure, the cost of the pension and wealth management products is generally lower than other wealth management products sold, and do not charge excess management fees, Fully profitable investors. "Executive pension financial management special offer rate, zero purchase fee, zero sales service fee, management fee is only%.
Pan Dong said.
How do you buy a need for investors? The pilot product is only for Wuhan, Chengdu, Shenzhen, Qingdao four places, and investors in other regions have not been able to buy. Investors above four places have two options, or bring local individual ID cards to the sales outlets of the corresponding institutions, or by online banking, mobile banking and other ways. According to the pilot requirements, the total amount of the older financial products purchased by individual investors does not exceed 3 million yuan. The special risk management mechanism is to ensure the steady operation of pension, enhance risk resistance, and four pilot institutions set up risk management mechanisms, product design is mainly based on security strategies, mainly invested in fixed income assets.
Specifically, the special risk management mechanism includes smooth funds, risk reserves, impairment preparations.
"For each product, the workbook financial management is separately set up a smooth fund to achieve the goal of the ‘peak-filled Valley’ reduces the net value fluctuation.
"Wang Haifeng, Vice President of ICBC Finance, said in a certain period of time, when the investment income exceeds the performance, the exceeding the exceeding the part, according to a certain proportion, if you encounter an extreme market income, it is not ideal, and then it will replenish it to this product. If there is still the rest of the product, it will replenish the corresponding product.
Wang Haifeng said that the risk reserve is based on 20% of the product fixed management fee, which is higher than the proportion of general wealth management products.
Based on security, investors generally pay attention to the income of pension and financial management.
This pilot product is a net value product, non-supplied, floating income.
Up to now, the performance of the four institutional products is based on 5% to%, and the performance comparison benchmark upper limit is 7% to 8%. Take "lower limit 5%, upper limit 7%" as an example, which means combining the market situation, investment strategy analysis, product expiration income is larger than the probability of this range.
How to take care of security and income? "In the investment strategy, the old-age financial management has used a steady asset allocation strategy. The risk rating is defined as R2, which is a lower risk." Pan Dong said, to play a multi-asset, multi-strategy advantage, investment in bonds, non-standard credit Asset, stocks, quantifying neutral strategies assets, trading products, etc., helping investors cross the cycle, ironing fluctuations.
It is worth reminding that investors should read the sales documents carefully when purchasing products.
"According to the characteristics of pension financial management products, some of our sales documents have been added, for example, specializing in key information specification, purchase limit reminders, risk management mechanisms, human care, and other key terms." Wang Haifeng said. Open the main entrance, blocking the door pilot first product is just a chapter. The pilot institutions have said that under the guidance of regulatory, the pension system and strategies will continue to carry out the study of the old-age structure, and combined with the age structure of my country’s residents, investment preferences, capital market characteristics, constantly innovating product strategies, rich multi-level pension finance. Product supply. What is the pilot pilot pilot? One of the significance lies in "opening the main entrance, blocking the door", which is also an important idea of ??the regulatory layer.
"In recent years, some financial institutions have launched some financial products with ‘pension’ words, but most of them do not have real pension function, do not meet the requirements of robustness, long-term and other requirements." Dong Xizhen said, for this, the supervision department strengthens rectification Strength, most financial institutions have been removed related "pension" wealth management products. Dong Xizhen said that there is an individual non-financial institution to drill an empty space, and the name of "pension and financial management" is illegally funded and financial fraud, which seriously damages the legitimate rights and interests of middle and old age.
To this end, the pilot pilot of the old-age financial management products is carried out, and the "good currency expelter" is imperative.
"To improve market constraints, create a financial industry information platform.
"Shengyi, deputy president of the banking management registration certificate, said that the center is led to formulate" bank financial information disclosure standards ", at the same time, relying on China’s Wealth Management Network to build a third-party information disclosure platform, support, guide pilot institutions to carry out a unified platform Information disclosure provides investors with authoritative and reliable information inquiry channels, earnestly protect investors legitimate rights and interests.
Despite the significant progress of pension finance, the concept of pension and financial management of my country still needs to be improved. "In terms of pension fund reserves, it is currently mainly relying primarily on the government and enterprises. It is for the lack of cognition and participation of this idea through personal business support to plan old life.
"Xie Guofang, president of Jianxin Finance, said, how to translate the long-term funds in investors in the hands of investors into funds in pension, and how to effectively promote the development of pension financial business, which is an important part of building a modern pension system.