Never-out-of-date short-term wealth management products The recent popularity of short-term bank wealth management products is inseparable from several characteristics of such products. First of all, the product yield is high. Compared with the income level of time deposits in the same period or even in the medium and long term, the expected annualized rate of return of short-and medium-term bank wealth management products has obvious competitive advantages. Take the related wealth management products of CCB as an example. At present, the bank's three-month time deposit interest rate is 3. 1%, while the expected annualized rate of return of CCB's capital preservation wealth management products is 4.6% in the same period, a difference of nearly 50%! This income gap is also obvious in other products with different maturities (such as one month and six months), so it has been sought after by investors. Secondly, the product risk is low. At present, the types of short-term and medium-term bank wealth management products are basically bond type, bill type, capital preservation type and high-liquidity daily opening (asset pool). The main investment targets are inter-bank bond market government bonds, policy financial bonds, central bank bills, short-term corporate financing bills, medium-term bills, repurchase, interbank deposits and bank acceptance bills. The investment targets are all very safe varieties, which are highly safe in product risk control, so they are trusted by investors. Third, the starting amount is low. With the "negative interest rate" of deposits, the cold of funds and stocks, the control of real estate investment, the high price of gold and the high threshold of trust and PE, the investment channels of ordinary investors are increasingly narrow. Compared with trusts and PE funds with 6,543,800,000 yuan, 3,000,000 yuan or even 6,543,800,000 yuan, the initial investment amount of short-term and medium-term bank wealth management products is mostly 50,000 yuan or 6,543,800,000 yuan, which is acceptable for most ordinary investors. Therefore, short-and medium-term bank wealth management products with high yield, low risk and low initial investment amount have become a rare "bomb shelter" for ordinary investors at this stage, and have also attracted a large number of supporters for short-and medium-term bank wealth management products. Finally, the uncertainty of the investment market prospect reflects the high liquidity advantage of short-term and medium-term bank wealth management products, making it a "safe haven" and "post station" for many investors and even speculators to avoid market risks and wait for short-term market opportunities. Since short-term and medium-term bank wealth management products have so many advantages, are they suitable for all types of funds to invest? The answer is no, in terms of capital utilization, there are currently two types of funds suitable for investing in short-term and medium-term bank wealth management products. The first is the investor's family reserve fund. The biggest feature of this kind of funds is the uncertainty and high liquidity. Investors can invest part of their family's reserve funds in short-term and medium-term bank wealth management products. Secondly, there are funds with clear purposes and use time. There are two main types of such funds. One is spare money to invest in the stock market and funds. For example, if investors think that there is no opportunity in the market in the next month, they can choose to buy bank wealth management products that are open within one month or even every day to ensure investment income and liquidity; The other is a large amount of funds that need to be used or consumed in the short to medium term. For example, if an investor is going to buy a house or a car in three months, the money can't afford any loss, so investors need to invest in relatively stable products instead of choosing risky investment channels such as stocks and funds. At this time, short-and medium-term bank wealth management products have become a good choice for him. However, many investors like to buy short-term and medium-term bank wealth management products repeatedly with long-term unused spare money, which is actually a misunderstanding. Because the income of short-term and medium-term wealth management products is often lower than that of medium-and long-term wealth management products, and in the process of docking, due to problems such as product release time, collection period and arrival time, it is easy to waste funds in timeliness. Therefore, investors should optimize products, match the investment period of each product, make effective and reasonable use of funds and maximize profits. Chen Puran, product manager of wealth management and private banking department of Beijing Branch of China Construction Bank, and Jiang Bank, a national senior financial planner and national excellent wealth manager, divide their wealth management products into guaranteed income and non-guaranteed income. According to the investment of funds, it can be roughly divided into bonds and money market instruments, trust, structured and overseas financial management (QDII). Compared with high-risk products such as securities, funds, trusts, futures, foreign exchange, private placement and precious metals, bank wealth management products are safer and have obvious yield advantages compared with bank savings. As a defensive variety with high cost performance, it is increasingly favored by customers (especially individual customers and large and medium-sized institutional customers). According to the risk rating of wealth management products, commercial banks will set a sales starting point limit for individual customers. Taking individual customers as an example, wealth management products with risk ratings of Grade I and II are mainly aimed at prudent and steady customers, with a starting sales amount of 50,000 yuan; The wealth management products with risk ratings of Grade III and IV are mainly aimed at balanced and enterprising customers and above, and the starting sales amount is 654.38+10,000 yuan; Financial products with a risk level of five are only for radical customers, and the starting price is RMB 200,000. Individual investors can rationally judge the risk degree of related products according to the initial investment amount, so as to determine the wealth management products that meet their own risk preferences, income expectations and capital progress. At present, the wealth management products sold by commercial banks are mainly concentrated in the short term of 1-6 months (inclusive), and most of them are invested in bonds, money market instruments and structured products, which have a high correlation with the market capital price in the same period. For example, Bohai Bank's structured deposit wealth management product "Boying" series is a low-risk product with guaranteed floating income. Its derivatives are partly linked to the London Interbank Offered Rate (Libor), and the expected annualized rate of return of products is in the range of 4%-5%. As long as the ending price of the linked target is less than or equal to 8%, the customer can get the expected annualized rate of return agreed by the product. Judging from the fluctuation level of Libor interest rate in recent years, the yield risk of this product is almost zero. At present, the regulation policy of the property market continues to be tight, CPI goes down, interest rates are expected to return to positive income levels, market funds are abundant, there are still many uncertainties in domestic and foreign markets, and long-term interest rates are expected to be lowered. Short-and medium-term wealth management products are very suitable for customers with both liquidity and profitability because of their flexible term and good liquidity. For customers who are unwilling to face the risk of frequent selection, they can also buy medium and long-term wealth management products. Most investors are keen on "shopping around" when actually buying bank wealth management products. But from a non-professional point of view, it is difficult to make an objective and comprehensive evaluation of wealth management products. It is neither realistic nor necessarily cost-effective to carry out "deposit moving" frequently only on the basis of superficial rate of return. Generally speaking, small and medium-sized commercial banks are more willing to attract customers through profit because of their small popularity, single product quantity and few outlets, and the yield of their wealth management products will be slightly higher than the average level of their peers. Investors can follow the principle of "proximity, convenience and service priority", choose relatively familiar bank outlets, and regularly purchase corresponding wealth management products to reduce the "gap period" between products. For the current financial experts, it is nothing new to remit money through online banking, buy wealth management products and fill the "vacancy period" with "notice deposit". Generally speaking, there is no good or bad investment and wealth management market, only suitability. Short-and medium-term bank wealth management products, as defensive products with both offensive and defensive functions, have well integrated the advantages of safety, liquidity and profitability, and are undoubtedly better mass wealth management products under the current uncertain capital market trend. Young white-collar workers with frequent capital inflows and outflows, investors with short-term capital storage needs and stock speculators are more suitable for buying short-term and medium-term wealth management products. In addition, some middle and high-end customers with high liquidity and low risk tolerance, especially small business owners with large cash flow, stock market and futures customers, are also good choices if they have a lot of idle funds. Second, we should pay attention to the subscription and redemption rates. Some short-term products are locked for a fixed investment period of 7 days, 1 month or 3 months, and investors cannot redeem them halfway; Some short-term products have early redemption clauses, allowing customers to quit halfway. At present, the rates of bank wealth management products mainly include subscription fee/subscription fee, redemption fee, annual product management fee, annual custody fee, excess income performance reward and so on. Although each item is not much, it adds up to considerable. Third, we should pay attention to the expected rate of return. Due to the different investment scope, the expected rate of return of short-term and medium-term wealth management products is quite different. Even for the same type of products, the expected rate of return of each bank is different. Therefore, you need to consult and understand before making a choice. Generally speaking, higher expected rate of return refers to the income of wealth management products under ideal conditions, which has certain market risks and the expected income may not be realized in the end. The risk of fixed rate of return is almost zero, which determines that its rate of return cannot be too high. The minimum rate of return of short-term and medium-term wealth management products is generally very low, which has certain profit potential on the basis of ensuring the minimum rate of return. Therefore, when choosing products, we must consider the possibility of realizing product income, refer to the performance of products in previous years, or pay attention to the analysis of market trends. Fourth, the efficiency of capital utilization is worthy of attention. Many investors think that the period from the subscription date of wealth management to the date of receipt of funds is counted as the term of wealth management products and participates in interest calculation, but it is not. Generally speaking, the time between the registration date and maturity date of wealth management products is the investment period of interest-bearing products, while the time between the purchase of wealth management and registration date and the time between the maturity date and the arrival date of products do not participate in interest calculation. For medium and long-term products, the difference between the value date of 2-3 days and the arrival date in the actual income of customers is not obvious, but for short-term products with an investment period of only a few days or 1 month, the impact is more significant. Investors can give priority to short-term wealth management products with fast interest rates and short arrival time. Fifth, short-and medium-term wealth management products are not ordinary savings deposits, but they are still risky. When ordinary investors buy products, it is best to choose those products with low risk factors, such as bonds, bill assets and so on. At present, all banks have launched similar products. For example, the "Zhiying" series of Bank of Communications has four varieties: 7 days, 14 days, 2 1 days and 28 days. Investors can purchase products on any working day, and the investment period is 7 days, 14 days, 2 1 day and 28 days. It should be reminded that not all investors are suitable for short-and medium-term wealth management products. For example, some investors are very concerned about the "in-transit time" of rolling investment, so they may wish to consider some alternative products, such as the financial week plan launched by banks. It seems that the expected rate of return of the financial week plan is not as good as that of the financial products issued regularly. The financial week plans to use a specific time to deduct the principal and interest, and can continue to roll investment, which greatly saves the "time in transit" of funds. In the long run, the actual rate of return is not lower than buying a wealth management product alone.