Wind data shows that in the past May, another 13 securities companies' asset management products have completed the public offering transformation.It is worth noting that 6 of the above-mentioned products after the transformation are currency funds, and almost all of their predecessors are margin products.This also means that since November last year, the "participation transformation" of securities companies' margin products has entered a stage of acceleration.
As of the end of May 2022, 14 brokerage margin products have been converted into money funds.It is understood that the share of margin products that have completed the transformation has also increased to varying degrees, and some scale growth rates are approaching 50%.
5 margin products completed public offering transformation
In October 2021, Huatai Tiantianfa and Guotai Junan Asset Management’s “Guotai Junan Cash Manager” two products launched a public offering transformation plan. At the same time, it was approved by the China Securities Regulatory Commission and became the first early adopters in the market. This also opened the securities firm’s asset management. The prelude to the "Participation Transformation", a large collection of margin products.
It is worth noting that in the past May, the "participation transformation" of margin products is accelerating.Wind data shows that in May, the number of products in the “Participation and Public Transformation” of the asset management collection of securities companies reached 13.In terms of investment types, 6 of the 13 products are currency funds, namely Haitong Cash Treasure, Xiangcai Tianying, Guoyuan Yuan Zengli, Xinda Cash Treasure, Guolian Cash Zengli and Huatai Zijin Currency Increase. profit.According to public information, except for Huatai Zijin's currency increase, the remaining 5 are transformed from margin products.
In April of this year, the only money funds converted from margin products were China Securities Investment Zhiduoxin, Guosen Cash Increase and China Merchants Asset Management Zhiyuan Tiantianli.
If you add the three transformed money funds from Zhongtai Jinquan Huijin, Founder Securities Cash Port, and Everbright Sunshine Cash Treasure, the number of margin products that have completed the “transformation of public participation” in the first five months of 2022 will reach 11. .
If further statistics can be found, as of the end of May 2022, the number of margin products with complete "participation and public transformation" of securities companies' asset management has reached 14.
After the renovation, the size of the fund has greatly increased
After the completion of the transformation, the securities company's margin product has turned into a currency fund. Can it be further recognized by customers?After all, yield is not the main selling point of such products and they are not sold on third parties and other platforms.
According to the reporter's understanding from many securities companies on June 1, along with the reduction of the subscription threshold, the promotion of the company's sales department has also led to a significant increase in the scale of such products.
For example, Huatai Capital, a subsidiary of Huatai Asset Management, is the leading brokerage margin product in the market.
According to the 2021 annual report issued by Huatai Zijin every day, as of November 22 last year, the share of the product was 50.025 billion, which increased to about 56.047 billion at the end of last year.This year’s first quarterly report shows that as of March 31, 2022, the fund’s product scale has increased to about 61.024 billion, an increase of more than 11 billion or nearly 22% from the day it was established.
Essence Asset Management Tianlibao, a subsidiary of Essence Asset Management, was established on December 6, 2021.According to public data, the scale of the product was about 8.216 billion when it was established. At the end of last year, the scale increased to about 12.085 billion, an increase of 47%.
Guotai Junan Cash Manager’s quarterly report shows that during the first quarter of 2022, the size of the fund increased from 17.641 billion to 19.638 billion at the end of the quarter.
The first quarterly report of Founder Securities’ cash port currency collective asset management plan also shows that the scale of the product has increased from 7.8205 billion copies at the time of its establishment to about 9.16 billion copies at the end of the quarter, an increase of 17.12%.
According to the first quarterly report of Everbright Sunshine Cash Treasure, its share increased from 11.495 billion when the product was established to 12.565 billion at the end of the quarter.
An asset manager of a securities firm told reporters on WeChat on June 1 that the scale of the company’s revamped margin products has increased by nearly 50%, and the increase in scale is mainly due to the company’s continuous promotion to customers.
Since 2011, securities brokerage margin products have become an important innovative business that has been promoted. After the market closes every day, securities companies invest the idle margins in the stock accounts of contracted customers into fixed-income assets to increase the income of customers.After years of development, margin products have now become the basic tools for securities companies to serve stock trading customers, and their convenience has become an important advantage of their own.
It is worth noting that on May 20, the China Securities Regulatory Commission revised the Measures for the Administration of Securities Investment Fund Management Companies.The new regulations pointed out that under the premise of continuing to adhere to the "one participation and one control" policy of fund management companies, the restrictions on the number of public offering licenses will be relaxed.This means that the same entity can apply for another public offering license on the basis of participating in a fund and controlling a fund, that is, "one participation, one control, one license".In the future, the public offering transformation of securities companies' large collection products will also continue to advance.
