① Market risk:?

1. Policy risk: Changes in national policies, such as policies, fiscal policies, industrial policies and regulatory policies, have a certain impact on the market, which may lead to market fluctuations, thus affecting the income of the trust plan and even causing property losses of the trust plan. ?

2. Industry risk: macroeconomic operation and industry development have an impact on the income level. ?

3. Interest rate risk: The fluctuation of interest rate in the financial market will lead to changes in the price and yield of the securities market, directly affect the price and yield of bonds, and affect the financing cost and profit of enterprises. Therefore, the income level of the trust plan may be affected by changes in interest rates and the relationship between supply and demand in the money market. ?

4. Purchasing power risk: the purpose of the trust plan is to preserve and increase value. If inflation occurs, the income gained by the investment trust may be offset by inflation, thus affecting the preservation and appreciation of the trust plan. ?

5. Business risk of the company: If the company invested by the trust plan is not well managed, the profit available for distribution will be reduced, the income of the trust plan will be reduced, and even the property loss of the trust plan will be reduced. ?

② Custodian's operational risk: However, during the existence of the trust plan, if the custodian fails to manage the trust plan according to the agreement in the trust documents, it may have an adverse impact on the trust plan. ?

③? Operational risk of trust company: the trust company violates the fund trust contract and improperly handles trust affairs, resulting in loss of trust property.

(four) the risk of the client's investment trust plan:

1. Customer liquidity risk: In most trust plans, customers need to hold trust shares until the end of the plan, so the liquidity of customers will be affected to some extent. ?

2. Uncertainty risk of trust interests: Trust interests are affected by many factors, including price fluctuation in the securities market, investment operation level and changes in national policies. Trust plans may have both profits and losses. According to relevant laws and regulations, the trustee does not promise trust benefits or make certain guarantees to the beneficiaries of the trust plan. ?

3. Liquidation risk of trust plan property: Due to the termination of this trust plan, the trustee must realize all kinds of investment in trust plan property, which may lead to the loss of trust plan property. ?

⑤ Other risks:

1, Force Majeures such as war, natural disasters, major political events and other unforeseen accidents may cause losses to the trust plan property. ?

2. Risks beyond the trustee's direct control, such as financial market crisis and industry competition, may cause losses to the trust plan property.

2. Risk control measures for trust products?

(1) Mortgage or pledge: the financing party mortgages or pledges its movable or immovable property (real estate, equity, etc.). ) to the trust company. If the financier fails to pay the principal and income of the trust product on time, the trust company may auction the mortgage or pledge. Under normal circumstances, the valuation of the mortgage and pledge of the financing party will be higher than the investment amount and expected income of the investor to protect the principal and income of the investor;

(2) Guarantee: If there is no mortgage (or pledge) or the mortgage rate is relatively high, the trust company will often ask the financier to provide corresponding guarantee for the trust property. For example, guarantee company guarantee, third-party guarantee (parent company or affiliated company of the financing party), unlimited joint guarantee of enterprise legal person, etc. ;

(3) Structured design: The so-called structured design is to distribute the trust income rights in different levels, so that investors who buy priority can enjoy the priority income rights, and investors who buy secondary and inferior levels can enjoy the inferior income rights. After the trust expires, the balance of investment income, expected income and related expenses after the principal of the priority beneficiary are all owned by the inferior beneficiary; If there are investment risks, the inferior investors should bear them first.

Extended data:

Trust is an act that the principal entrusts his property rights to the trustee based on his trust in the trustee, and the trustee manages and disposes in his own name according to the wishes of the principal, for the benefit of the beneficiary or for a specific purpose.

Trust is a way of financial management, a special property management system and legal behavior, and also a financial system. Trust, banking, insurance and securities together constitute a modern financial system. Trust business is a legal act based on credit, which generally involves three parties, namely, the trustor who invests in credit, the trustee who is trusted by others and the beneficiary who benefits from others.

References:

Trust product Baidu Encyclopedia