| Since 2004,when Everbright Bank issued its first wealth management product in China,China's commercial bank wealth management business has been in the middle and high-speed development stage.However,with the continuous downward adjustment of the benchmark interest rate and the long-term “asset shortage” of the capital market in 2016,the yield of commercial bank wealth management products has also fallen sharply,which has been falling from the past 5% or so.4%.On April 27,2018,with the People's Bank of China promulgating the "Guiding Opinions on Regulating Asset Management Business of Financial Institutions",the new asset management regulations,which have been known as "the most stringent in history",finally landed on bank wealth management products.A number of new requirements have forced the bank's wealth management business to transform and develop.The traditional fixed-income wealth management products will gradually decrease,and the uncertainty of the profitability of wealth management products will increase.In this market context,through the rational product structure design,the income of wealth management products is linked with other debt assets,equity and other underlying assets,the income of wealth management products is determined according to the performance of the underlying assets,and the structural financial management is used to hedge financial risks.Products are bound to be increasingly favored by investors.Recognise the factors affecting the income of structured wealth management products are identified.By comparing the deficiency of Y Bank compared with other commercial banks,the Y bank structure is found.The reasons for the low income of sexual wealth management products,put forward corresponding countermeasures and suggestions,develop the structural wealth management products for Y Bank,deal with the opportunities and challenges of the external environment for Y Bank's wealth management business,and ensure the long-term sustainable and healthy development of Y Bank's wealth management business.Significance.On the basis of summarizing the domestic and foreign scholars' research results on structural wealth management products,this paper combines portfolio theory,capital asset pricing model theory,arbitrage pricing model theory and other classic financial theories,with Y Bank as the research object and its structurality.The issue of the factors affecting the income of wealth management products was studied.Firstly,this paper uses the qualitative analysis method to identify the factors affecting the income of structured wealth management products.After that,it selects the structural wealth management products sold by domestic commercial banks as samples,and uses the quantitative analysis method to influence the identified factors of revenue.The size of the force was measured,and the main influencing factors of the income of the structured wealth management products were the issuer,the underlying assets,the term length and the settlement currency.Then,the status quo of Y-bank structured wealth management products was elaborated,and the income of Y-bank structured wealth management products was compared with other commercial banks in combination with the previously identified influencing factors.It was found that the Y-bank structured wealth management products had relatively low returns.The reason for this situation is that the variety related to the underlying asset is single.The deeper reason is that the risk appetite related to the issuer's bank type is relatively conservative,the product R&D capability is weak,and the professional talent structure is not suitable.In view of the reasons for the low income of Y Bank's structured wealth management products,this paper believes that Y Bank can enhance its structural financial management by providing diversified assets under the target,enhancing development capabilities,adjusting the structure of professional talents,and improving risk prevention and control capabilities.product revenue. |
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