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[As of the end of June this year, the bank wealth management market had a total size of 28.52 trillion yuan, generating 341.3 billion yuan in returns for investors.]

"The wealth management product I bought in the middle of this month has been falling recently. I don't know if I will lose some of the principal after it expires." An investor with a 30-day holding period told the First Financial reporter that the underlying assets of the one-month holding period wealth management product purchased from a joint-stock bank's wealth management company were mainly bonds. The yield continued to fall after the purchase, and losses occurred almost every day.

Since August, the bond market has adjusted, and many wealth management products have experienced a decline in net value, especially fixed-income wealth management products. In this regard, the wealth management market, which had continued to grow in size in the previous period, has also experienced a certain degree of decline. According to market institutions, in the past two weeks (August 12 to August 23), the 7-day annualized average yield of fixed-income wealth management products fluctuated greatly. The average annualized yield fell by 169BP to 0.66% in the previous week, and rebounded last week to 1.97%, but it was still 255BP lower than the highest point of the month.

The fluctuation of the net value of wealth management products has caused many investors to "fear of net loss". From the perspective of the market, although the net value of bond wealth management products has fluctuated significantly, the net loss rate has not increased significantly. However, it should also be noted that some products that increase leverage to achieve high returns will be more sensitive to changes in interest rates and may cause losses in products. In addition, industry insiders believe that although the yield of wealth management products has also shown negative performance due to the fluctuation of the bond market, the scale of the wealth management market is still expected to rebound to more than 30 trillion yuan in the second half of the year.

Financial management yield and scale fluctuations in August