Understand the risks before investing in current wealth mana

At present, the yields of various wealth management products are constantly falling. The Internet financial platform is to attract more customers and launch “live” and structured products. Are they safe? “Living” products are managed by liquidity management. The central bank cut interest rates several times, and the income from bank deposits and banking financial management continued to fall. The annual yield of “Yuebao” was “broken 3”. However, a number of Internet financial platforms have launched “live” wealth management products with a revenue of around 8%. These products are attracting investors' attention, and many new users are coming from such products. How do such products achieve the "current" nature, are they safe? The Golden Egg Financial Platform launched such products on January 19, and the current cumulative transaction volume exceeds 7.4 billion. The product is "T+1". Jin Yu’s CEO Deng Wei said that the so-called “live” is just a metaphor. It is mainly for the public's understanding. In fact, “live” has certain conditions: a single user can buy up to 200,000, and a maximum of 5 can be withdrawn per day. Million. The Golden Egg Financial Platform mainly connects consumer loans, trust beneficiary mortgages and real estate mortgages, that is, either personal small-distributed loans or secured loans. The key to P2P “current” products is daily liquidity management and prevention of black swan events. Limiting the total amount of purchases and the amount of cash raised each day is to achieve “no concerted action after decentralization”. In addition, the docked assets can flow. For example, the borrower platform that requires cooperation can buy back the creditor's rights. The mortgaged property has good liquidity, and if the trust is reduced by 0.5%, it can be transferred out in one day. “In addition, such products must guarantee a certain degree of liquidity in response to redemption. We will allocate a certain percentage of the money fund. Although the product has a 'live' attribute, the purchaser is actually a very low-liquidity customer, those frequent and large-value The cash withdrawal has been blocked by the conditions of '200,000 caps, 50,000 cash withdrawals per day, frequent withdrawals and no cash withdrawal fees'," Deng said. However, industry insiders pointed out that the "current" products launched by the Internet financial platform put forward very high requirements for the platform's own liquidity. Once the platform encounters a large number of user withdrawals, the platform will face greater challenges. Structured products fight floating income Banks have launched structured wealth management products for a long time, but the Internet financial platform has recently come to "join the fun." On the one hand, affected by the lower interest rate, the investment income of most P2P platforms has dropped significantly, and investors are no longer satisfied with the diminishing returns. If the platform wants to continue to retain investors, it must launch higher-yielding products. As a result, some P2P platforms are beginning to experiment with structured products. P2P products generally have a fixed loan term, such as 6 months or 1 year, and the rate of return is also the same. However, the Internet financial platform financial model recently launched a "floating income" product "rocket financing", an equity product with an initial rate of return of 8%. Its floating income is mainly realized through structured asset allocation. The configured asset types include one or more of the following basic asset portfolios: corporate creditor, convertible bonds, equity income rights, and specific asset income rights with higher returns; Lower risk corporate equity pledge assets, high quality government platform assets, other low risk stable income financial products and currency field instruments; cash assets with higher liquidity. According to Mu Xin, the person in charge of the Rocket Financial Project, the amount of such products is 50,000, which is lower than the threshold of hundreds of thousands and millions of traditional equity investments. The project duration is 12 to 36 months. For one-time repayment of principal and interest, the principal and interest will be credited together after the project expires. Mu Xin said that there is a certain threshold for rocket financing, which is not suitable for ordinary P2P wealth management. Insiders pointed out that structured wealth management products have certain advantages: Internet structured wealth management products have guaranteed bottom income (initial income), compared with bank structured wealth management products, non-principal-guaranteed floating income, Internet structured wealth management products pay more attention to safeguard investment. People's principal and interest are safe. As far as the platform for the introduction of structured wealth management products is concerned, the annualized income of guarantees is generally around 6% to 9%.