In recent years, persistently weak market interest rates have led to a general decline in returns from traditional wealth management products such as deposits, while the equity market has primarily offered structural opportunities, increasing the difficulty of one-sided investment strategies. Allocation-type products like 'fixed income plus,' which use lower-volatility bonds as a core holding and allocate a smaller portion to equity assets to capture market opportunities, are well-suited to meet the allocation needs of ordinary investors. Responding to this market trend, China CITIC Bank has integrated high-quality resources from multiple parties to launch a new 'Stable+ Family' wealth product series, creating a one-stop asset allocation solution for ordinary investors through a clearly layered product matrix.
The 'Stable+ Family' product series reportedly consists of two core segments: the first 'stable' corresponds to the 'Wen Rui+' series in the bank's wealth management track, and the second 'stable' corresponds to the 'Wen Ying' and 'Wen Jin' series in the fund track. This dual-track approach in wealth management and funds works in synergy, forming a well-structured, balanced, and integrated allocation system. As an outstanding 'fixed income plus' fund, the Invesco Great Wall Jing Yi Yu Li fund has been selected for the 'Wen Jin - Low Volatility' series within the fund track. Wind data shows that the Invesco Great Wall Jing Yi Yu Li is a secondary bond fund jointly managed by Mao Congrong, Deputy General Manager of Invesco Great Wall, and team members Chen Ying and Wang Ao. As a leading figure in fixed income at Invesco Great Wall, Mao Congrong has over 20 years of investment experience and excels at identifying the direction of major asset allocation based on macroeconomic trends and relative valuations. Chen Ying is skilled at capturing trading opportunities in credit bonds and identifying opportunities in stock sector rotation. Wang Ao specializes in adjusting a portfolio's risk and return characteristics based on the specific features of its liability structure.
Regarding performance, Wind data indicates that as of June 11th, the Invesco Great Wall Jing Yi Yu Li fund delivered returns of 3.33%, 7.80%, and 12.40% over the past six months, one year, and two years, respectively. These figures compare to benchmark returns of 1.75%, 3.01%, and 9.71% for the same periods, demonstrating significant outperformance. The fund's excellent results are supported by Invesco Great Wall's deep expertise as a 'fixed income powerhouse' and its platform-based investment research capabilities. Currently, Invesco Great Wall has established a comprehensive fixed income platform characterized by integrated investment research, a tiered talent structure, and diversified allocation. Its products cover various risk-return profiles, from low to medium and high volatility, with diverse strategies. Team members have distinct strengths in generating alpha, and the equity fund managers responsible for the 'plus' component exhibit a variety of styles, including cyclical, growth, balanced, and value investing.
China CITIC Bank stated that the 'Wen' series in the fund track is composed of 'fixed income plus' funds, primarily focusing on flexible income enhancement. These products typically target an equity allocation of 10% to 20%. By allocating a low proportion to risk assets like stocks and commodities, they effectively compensate for the return limitations of pure bond products, significantly boosting investment returns during periods of bond market volatility and equity market recovery. The products balance practicality and flexibility, often featuring rolling holding periods of 3 or 6 months or open-ended designs, allowing investors to adjust their allocations flexibly upon maturity. Simultaneously, the underlying assets span multiple categories, including stocks, bonds, and overseas markets, effectively diversifying risks from single-market volatility and balancing returns with stability. To date, since its significant launch in 2025, the 'Wen' series of fixed income plus funds has seen over 7 flagship products achieve sales exceeding 5 billion yuan. Excellent product strategy empowers robust performance; the 'Wen Ying' series has delivered an average return of 6.06% over the past year with a maximum drawdown of only 0.96%. The customer investment experience continues to improve. Data shows that over 90% of clients who held positions for more than one month and completed redemptions realized profits, and the investment success rate for clients holding for six months or more reached as high as 99%. With its core advantages of high success rates and stable returns, the 'Wen' series of funds has become a preferred choice for investors' core fixed income plus allocations.
The significant launch of the 'Stable+ Family' product series represents a systematic upgrade and integrated innovation by China CITIC Bank in the fixed income plus domain. Leveraging dual product lines in wealth management and funds, it forms a layered product matrix ranging from low-volatility stability to advanced enhancement, comprehensively covering the stable investment needs of clients with different risk appetites. This approach safeguards the baseline of asset security while exploring market return potential through diversified 'plus' strategies, addressing the challenge of increasing wealth management income in a low-interest-rate era.
Looking ahead, China CITIC Bank will continue to deepen its focus on the fixed income plus field, continuously optimizing the 'Stable+ Family' product system and iterating asset allocation strategies. With professional investment research capabilities, a comprehensive product matrix, and flexible allocation solutions, the bank aims to provide investors with stable financial services that are better aligned with market trends and wealth management needs, assisting the public in steadily increasing the value of their assets.
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