At present, the domestic stock market is in a downturn, which makes all kinds of RMB products affected to varying degrees. Structured wealth management products are generally in line with international market investment and have the characteristics of wide investment channels and diversified investment portfolios. This will greatly improve the relatively passive situation of investors in the face of domestic policy changes. In addition, the relative yield of structured wealth management products is relatively high.
However, the relative risks faced by structured wealth management products are also high. The international market is changing rapidly, and various economic situations are likely to be turbulent. It is difficult for investors to accurately grasp investment opportunities and risk control. In addition, because most structured wealth management products are linked to overseas markets, investors will also face the risk of RMB appreciation in the current situation of RMB continuing to rise.
Simply put, structured wealth management products are combination products, which are a comprehensive product composed of several different basic products such as stocks, interest rates, exchange rates, stock indexes and options through certain technical means. Generally, the risks of such products are controllable, and the returns are higher than ordinary investments (such as savings). At present, banks and other financial institutions issue wealth management products by virtue of their own credit and unique position across markets (across varieties and countries), and pool funds for cross-market operations to help customers explore more investment channels and obtain income.
Many structured wealth management products are classified according to different ways for customers to obtain principal and income, which can generally be divided into three types: guaranteed income type, guaranteed floating income type and non-guaranteed floating income type. Guaranteed capital and guaranteed income products: The bank promises the customer the principal security and fixed income, and the bank bears the investment risks arising therefrom. For floating income products with capital preservation, the bank guarantees the safety of the customer's principal, and the investment risk of unexpected principal is borne by the customer, and the actual income of the customer is determined according to the actual income. At present, the products linked to exchange rate, interest rate and stock price are mostly of this kind. For non-guaranteed floating income products, the bank does not guarantee the safety of the customer's principal, nor does it promise the income, and the risk is borne by the customer. At present, there are few such products.
Structured wealth management products can also be divided into static and dynamic. Static means that the design structure will not change after product release; There will be an asset management part dynamically, and assets will be adjusted accordingly according to market conditions. Basically, most of the current structured products are guaranteed, and the floating income depends on the performance of the product-linked target. The final yield of products is linked to the performance of relevant markets or products, such as linked to exchange rate, linked to interest rate, linked to international gold price, linked to international crude oil price, linked to Dow Jones index, linked to Hong Kong stocks, etc.
There are many types of structured wealth management products, some of which are guaranteed, and of course the income is relatively low, ranging from 3% to 6%; If there are non-principal-guaranteed, the income will be higher, which can reach more than 7%, and of course the risk is higher.
For example, a bank launched a brand-new "RMB structured wealth management product"-"XX Plan" for individual customers. "XX Plan" means that investors open two accounts in RMB and USD in the bank and deposit a certain amount of RMB funds at the same time. Capital gains are linked to investment products in the international financial market. When the product expires, the bank will return the investor's RMB principal and pay the investor's investment income in US dollars, and the bank will protect the investor's principal from loss.
At present, structured wealth management products are mainly related to foreign exchange rate, RMB exchange rate, gold price, oil price, stock price and foreign interest rate. The difference of linked products often determines the income of wealth management products.