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Since August, the annualized rate of return of Tian Hong Yu 'ebao on the 7th has continued to fall. On August 23rd, Tian Hong Yu 'ebao reported an annualized rate of return of 1.3690%, gradually approaching the historical low set on June 9th, 2020. Subsequently, the annualized rate of return of Yu' ebao rebounded slightly on the 7 th. As of August 3 1, the annualized rate of return rose to 1.45438+0 10% on the 7th. Now the income of Yu 'ebao has dropped to 1.392%, while the one-year fixed deposit rate of the four major domestic commercial banks is 1.75%. In contrast, the advantage of "wealth management artifact" in income is not obvious.
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During the peak period, Yu 'ebao's annualized rate of return once reached about 6% on the 7th, with low risk, good liquidity and high rate of return, which attracted many people to invest money, and once set off an upsurge of "moving" deposits on the Internet. Many middle-class families transfer their bank deposits to Yu 'ebao. This money fund, which was born in 20 13, had more than 700 million users by the end of 20021. 20 13 and 20 14, the annualized income of Yu' ebao has remained at 6% on the 7 th. However, from 20 15, the income of Yu' ebao continued to decline, falling to 3.5%; Then from 20 16 to 20 19, it continued to drop to about 2.5%, and then fell below 2% for the first time until today's 1.392%.
Yu 'ebao explained the investment strategy in the semi-annual report: In the first half of 2023, the conflict between Russia and Ukraine broke out overseas, high commodity prices drove inflation to run at a high level, the Federal Reserve began to raise interest rates, and epidemics occurred repeatedly in some parts of China. Economic growth faces three major pressures: demand contraction, supply shock and expected weakening. Macro policy has made a trade-off between epidemic prevention and control and stable economic growth. The real estate industry experienced marginal easing after the low point, while other major economic indicators fell sharply in April and May. In June, the epidemic situation improved slightly. The overall trend of the bond market is related to repeated domestic epidemics, epidemic prevention and control policies and macroeconomic policies. Long-term interest rates fluctuated within a narrow range around macro fundamentals, while short-term interest rates benefited from loose monetary policy and fiscal expenditure in the second quarter, showing a clear downward trend. During the reporting period, Tian Hong Yu 'ebao optimized its asset allocation within the scope of risk control indicators while ensuring liquidity demand. Asset reallocation mainly includes interbank deposits, interbank certificates of deposit, reverse repurchase and credit bond allocation. During the reporting period, the Fund generated income for its holders that matched the risks.
According to the analysis of a Public Offering of Fund manager in Beijing, the continuous decline in the yield of money funds is directly related to China's current loose monetary policy. It is expected that the liquidity of the money market will remain loose for a long time, and the market interest rate will gradually approach the policy interest rate, but the overall operation will remain low. The yield of money funds will not increase significantly in the short term. If we follow the goal of high yield, investors may be disappointed.
However, although the income of Yu 'ebao is very low, as a money fund, stability is also an advantage. According to the data of Tianxiang Investment, as of August 3, 20231day, * * * 149 Public Offering of Fund managers disclosed the 2023 interim report. According to statistics, the total loss of Public Offering of Fund in this period is 635.632 billion yuan, which is the first loss in the same period data in the past three years. From the perspective of fund types, in the interim report of 2023, the total profit of money market funds alone exceeded 654.38+000 billion yuan.
Related question and answer: What is the latest interest rate of Yu 'ebao? By 202 1 year, the interest rate of Yu 'ebao will be around 4%-5%, and the daily interest will be =10000 * 4%/365 =1.10 yuan; Calculated at 5%, the daily interest is =10000 * 5%/365 =1.37 yuan. In other words, if you put 654.38+00000 yuan into Yu 'ebao, the daily interest will not exceed that of 2 yuan.
Yu 'ebao is connected with Yu 'ebao Monetary Fund under Tian Hong Fund, which is simple to operate, low in threshold and free of handling fee. In addition to the financial management function, Yu 'ebao can also be directly used for shopping, transfer, payment, repayment and other consumer payments. It is a cash management tool in the era of mobile Internet.
The development of history
From February 0 18, 0 1, Yu 'ebao will set the total daily subscription amount, that is, when the actual subscription amount reaches the set amount on a single day, the subscription application will not be accepted on that day.
The initial limit of Yu 'ebao is 6,543.8+0,000 copies (654.38+0 copies 654.38+0 yuan). 2065438+On July 24th, 2005, Tian Hong Fund announced that it decided to cancel the limit of no more than 1 10,000 copies of Yu 'ebao from now on.
From May 27th, 20 17, the upper limit of personal trading account was adjusted to 250,000 shares, and the existing stocks were not affected. From August 20 17 18, the upper limit of Yu 'ebao's personal trading account was adjusted to 654.38+10,000 shares, and the existing stocks were not affected. From February 8, 20 17, Yu 'ebao set the total subscription amount for a single day as 20,000 yuan, and the amount held in the personal trading account as100,000 yuan remained unchanged.
People's Daily Online-Is it more cost-effective to deposit money in Alipay than in the bank? The yield of Yu' ebao exceeds that of banks.