Investment advice: Pay attention to the changes in asset allocation and net worth regularly.

"Financial institutions shall implement net value management of asset management products, and the net value generation shall conform to the principle of fair value and reflect the income and risks of the underlying assets in a timely manner.

Change 2. Structured deposits or alternative capital preservation financing

Investment suggestion: pay attention to the past performance of related products.

As the new asset management regulations clearly point out that asset management business is off-balance-sheet business of financial institutions, financial institutions should not promise to protect capital and income when carrying out asset management business. In this case, capital preservation financing may gradually withdraw from the market.

Change 3. It is expected that the term of revenue-generating products may be greatly extended.

Investment suggestion: "Non-standard" assets are still an important allocation direction of wealth management products.

With the gradual breaking of the "rigid redemption" mechanism, more and more wealth management products will not reach the previously announced expected rate of return in 20 18. On the other hand, the new asset management regulations clearly state that "in order to reduce the risk of maturity mismatch, financial institutions should strengthen the long-term management of asset management products, and the minimum term of closed asset management products should not be less than 90 days." With the increasing supervision of maturity mismatch risk management, the maturity of expected income products is also considered to increase significantly.