This product is a financial management product of China Merchants Bank. The net asset value is announced daily. Investors subscribe based on the net value of the share. The expiration date is December 25, 2015.

So if you subscribe for 100,000 yuan, you will get 92,902.27 shares, and the net subscription value should be 1.0764. There is no problem with the assets, and the market value is still 100,000 yuan. The future income will be based on the net share value on the calculation date - the net share value on the subscription date 1.0764.

Net value of fund shares = (total fund assets – total fund liabilities)/total fund shares

Among them, total fund assets refer to all assets owned by the fund (including stocks, bonds, etc.) The total assets of various types of securities, bank deposit principal and interest, and other investments);

The total liabilities of the fund refer to the liabilities formed during the operation and financing of the fund (including various fees payable to others, funds payable interest, etc.);

Total fund shares refer to the total number of fund shares outstanding at that time.

Cumulative net value of fund shares = net value of fund shares + cumulative value of previous dividends

Extended information:

The annual report shows that as of the end of the reporting period, the balance of China Merchants Bank’s wealth management products was 21,900 billion, an increase of 1.42% compared with the end of the previous year. Relevant industry data shows that at the end of 2017, China Merchants Bank ranked second among commercial banks in terms of the balance of funds raised by wealth management products and the balance of funds raised by off-balance sheet wealth management products.

Therefore, regardless of any indicator of the overall balance of wealth management funds and the balance of off-balance sheet wealth management, China Merchants Bank’s statement of establishing an asset management subsidiary and strategic transformation is very eye-catching.

The management of CMB stated that CMB’s strong retail customers and sales channels have supported CMB’s asset management scale. Therefore, the establishment of an asset management subsidiary is of strategic significance and can continue to maintain CMB’s asset management advantages and meet the financial needs of retail customers. needs while complying with regulatory requirements.

Analysts from the above-mentioned listed securities firms believe that banks still face challenges in maintaining their financial management scale after de-channeling. On the one hand, after the establishment of an asset management subsidiary, although risks have been isolated, people used to buy financial management based on the bank's brand name. Now it is a subsidiary. Will investors continue to buy it? On the other hand, the asset management of the subsidiary puts more emphasis on active management. capabilities, putting forward higher requirements for team risk control and investment capabilities.

An analyst at a joint-stock securities company in South China pointed out that small banks will face greater pressure. These banks themselves have weak investment research foundations and lack the human and financial resources to support a subsidiary. These banks will compete in the future financial management business. The Shanghai Conference is obviously at a disadvantage, and the strong will always be strong in bank asset management and accounting

People's Daily Online - China Merchants Bank is promoting the transformation of asset management by establishing an asset management subsidiary