According to the head of the product department of a large fund company, the pension target fund has developed into a relatively mature product so far. The risk return characteristics of such products are quite clear, and simple procedure can meet the needs of investors faster and better. On the other hand, once the third pillar policy for the elderly is implemented, such products are expected to usher in a wave of issuance. In this case, it can be said that it is prepared to shorten the approval process appropriately.
However, some people in the industry said that whether the approval of pension target funds can go through the simple procedure still needs to be observed, but the prospect of such products is worth looking forward to.
Since the first public offering pension fof, Huaxia pension, was established in 2040 in September 2018, the scale of the public offering pension target fund has been growing, the product types have been gradually enriched, and the performance has been remarkable. According to choice data, as of October 20, nearly 100 pension target funds have been established in China, with a total scale of more than 40 billion yuan. From the perspective of performance, the average return of pension target funds has reached 18% since this year. In terms of total return, there are 12 products with a return of more than 40% since their establishment. Among them, the return on holding of Huaxia pension in 2045 is 53%, which is ahead of similar products.
In terms of scale, the pension target funds of bank fund companies are even better. According to choice data, at present, there are seven pension target funds with a scale of more than 1 billion yuan, namely, Minsheng Jiayin Kangning stable, BOCOM anying stable, ICBC Zhiyuan configuration, Puyin Ansheng Yihe robust, Huaan robust, e-fund Huizhi robust and Xingquan Antai balanced. Among them, the scale of Minsheng Jiayin Kangning stable and Bank of communications Anxiang stable exceeded 5 billion yuan, significantly ahead of similar products.
According to industry insiders, pension target date funds and pension target risk funds also have one-stop characteristics. Investors can either choose the target date fund with the corresponding maturity date according to the retirement year, or select the target risk fund with corresponding risk level according to their own risk preference.
Lin Guohuai, director of fof investment and Financial Engineering Department of Xingzheng Global Fund, believes that in the early stage of pension investment business promotion, compared with the target date fund, the target risk fund is more concise and understandable in concept, clearer in style and easier to be accepted by investors. From the perspective of long-term performance, the performance of target risk fund is more stable, and its risk return rebalancing mechanism can improve the yield.
Another outstanding fof fund manager said that the pension target fund can not only meet the pension needs of investors, but also can be applied to different financial scenarios with different risk characteristics to meet various needs including financial management and pension. After the implementation of the policy of the third pillar of pension in the future, the development prospect of the pension target fund will be more certain. How to depict the style of products more clearly and how to make the excess returns more prominent will become the key for product managers to stand out in the fierce competition.
Source: Ren Hui, editor in charge of Shanghai Securities News_ NBJ9607