At the time of purchase, investors can apply for securities cards at the bank outlets where relevant products are launched with their valid identity documents, bank cards or wealth management cards or current all-in-one passbooks. Customers who already have a bank securities card may not apply for a new card.
The stock market continued to fluctuate, the fund income increased substantially, and the performance of individual funds also experienced ups and downs. How to choose the best fund in the oscillating market and avoid the fluctuation risk of a single fund has become the most headache for investors.
Because of this, as the "upstart" in wealth management products, FOF products issued by the four brokers have achieved good returns. Since this month, ICBC, China Construction Bank and China Everbright Bank have also launched FOF wealth management products known as "lazy" funds.
Financial analysts believe that FOF, as a selected product of funds, can effectively reduce non-systematic risks through the second selection of funds by experts. In addition, investing in FOF is equivalent to investing in multiple funds at the same time, and the investment cost is greatly reduced.
Advantages: Higher income and compensation mechanism.
From the perspective of investment targets, there is no essential difference between the banking department FOF and the brokerage department FOF, and the difference mainly lies in the following four aspects:
1. Expected annual income: 5% ~ 25%.
Judging from the expected returns of the four banks that have been launched, the expected annualized returns are between 5% and 25%, and the probability of realizing the annualized returns of 10%- 15% is high, while the brokerage FOF generally does not make specific expectations on the returns.
2. First, the trustee's trust principal loss.
The risk of fund optimization mainly lies in that when the whole stock market does not perform well, it will affect the market value of most funds, and then affect the net value of FOF. Therefore, both brokers and FOF banks will generally compensate buyers when the income fails to reach the expected target.
What is worth mentioning is the compensation arrangement made by ICBC's "Fund Optimization and Enhancement" FOF: as a secondary beneficiary, the trust company participates in the trust plan with its own funds and subscribes for 3% of the total share of the trust plan, but it does not exceed 1 100 million. Only after all the funds are lost can investors suffer losses. Although the FOF launched by brokers also has its own funds to participate, it only uses the income generated by this part of the funds as a guarantee for the investor's principal or part of the income.
3. The investment period is short and easy to redeem.
Product liquidity mainly depends on the investment period and redemption conditions. The investment period of bank FOF is generally 2 years, and the shortest is only 1 year; The FOF of the brokerage department is generally 3 years and the longest is 5 years. In addition, the FOF of the four brokers are redeemed regularly, such as the "fund treasure" of China Merchants, which is redeemed every three months. The bank's FOF, such as ICBC's "enhanced fund optimization", can be redeemed on a monthly basis.
Risk: the income fluctuates and the principal is not guaranteed.
First of all, although FOF can greatly reduce the fluctuation risk of a single fund, the net value of the fund portfolio will also fluctuate with the changes of the market. Therefore, the banking system currently launched by FOF is a non-guaranteed floating income product.
Secondly, due to the opaque fund portfolio of FOF and various expenses, the return of investors should not be too high. In June this year, 5438+ 10, stock brokers performed well in collective wealth management products. The average yield of collective wealth management products of three stock brokers reached 19.7 1%, which was higher than that of stock funds 12.69%. The yields of FOF products of the four brokers are all within 10%. Therefore, in order to get higher returns, more investors who can bear high risks will abandon the funds selected by experts and prefer to choose their own "heart water" funds for investment.
Finally, the FOF of banks and brokers usually charges subscription fees, storage fees, fixed management fees, redemption fees and so on. These fees are fixed. In fact, investors should pay more attention to the performance commission ratio.
According to the collected data, FOF of banks and securities companies can be mainly divided into two types. One is a fixed percentage commission. For example, Guangfa Wealth Management No.4 earns 20% with an annual income of 10% ~ 20%, and more than 20% earns 30%. The other is progressive. For example, ICBC's "Enhanced Fund Optimization" FOF stipulates that on the redemption and maturity date, 25% of the products have an annualized rate of return of 8% ~ 16%, and 30% of the products have an annualized rate of return of gradual withdrawal. This means that the higher the performance, the more performance commission the buyer has to pay.
-
Answers to supplementary questions:
At present, there are five FOF*** issued in China's market, namely: China Merchants Fund Bao, Guo Xin Financial Classic Portfolio, Huatai Zijin No.2, Everbright Sunshine No.2 and Guangfa Enhanced Fund Optimization.
At present, investors' awareness of FOF is not high, and they often confuse it with other wealth management products sold by banks. A considerable part of them learned about this kind of products through VIP recommendation of banks, and the minimum purchase amount of this product is100000 yuan. Therefore, most customers who patronize FOF are VIP or quasi-VIP customers of banks.
As far as this product is concerned, there are also some unsatisfactory places: First, it feels that transparency is not enough. Public open-end funds are reported every quarter, and the detailed introduction of fund managers' past performance and net worth is also published every day, while FOF only publishes net worth once a week; Second, the liquidity is not high. For example, China Merchants Fund Bao is open every three months for the last five working days of the current period. The classic combination of "financial management" is held once every six months. Liquidity is much worse than general open-end funds. If investors need money badly, they can't ask for redemption at any time.
-
Answers to supplementary questions:
Because it is issued by banks or brokers, if there is a code, there is only an internal code.
For example, the optimized fund code (i.e. collective plan code) of Guangfa Enhanced Fund is 870004.