Double decline in stocks and funds! Over 5,000 wealth management products have net values falling, with many Huaxia wealth management products dropping over 10%

As recent volatility in the A-share market intensifies, the net value pressure of bank wealth management products is gradually becoming evident. Data from Nancai Wealth Management shows that as of March 30, nearly 5,250 publicly offered wealth management products have experienced a decline in net value over the past week, accounting for 28.15%.

Among them, equity and hybrid products have seen the largest declines, and “Fixed Income+” products are also facing significant pullback pressures, with 29.89% of “Fixed Income+” products having negative returns over the past week. In the previous week (March 16 to March 23), even more, 32.34% of “Fixed Income+” wealth management products experienced net value declines, with an average growth rate of -0.04%. Under the dual impact of stock market and gold adjustments, “Fixed Income+” has turned into “Fixed Income-.”

In the past week, only pure fixed income wealth management products recorded positive average returns. Due to stock market fluctuations, the average net value growth rates of hybrid and equity products over the past week were both negative, at -0.46% and -2.12%, respectively. Some more cautious investment products performed relatively better in the volatile market, with clear differentiation among wealth management products.

CaiXiaoQuan reminds investors that bank wealth management products have completed their net value transformation, with product net values reflecting market conditions in real-time. Fluctuations in net value are normal. Given recent market volatility, once the market stabilizes or even rises, product net values will also recover accordingly. Investors need not panic or worry. Meanwhile, CaiXiaoQuan also advises banks and wealth management companies to communicate and explain to investors in a timely manner.

Equity products have become the “hardest hit area,” with Huaxia Wealth Management’s multiple index products falling more than 10%.

Affected by the Middle East situation and other factors, global stock markets have recently come under pressure. After March 16, the A-share market accelerated its decline, with the Shanghai Composite Index falling below the 60-day moving average, dropping 6.65% in just one week. At the same time, international gold prices also fell below $4,500 per ounce, with COMEX gold dropping 11.99% from March 16 to 23.

Equity wealth management products were most affected by the stock market adjustments. During the stock market correction from March 16 to 23, many index-based equity products under Huaxia Wealth Management experienced net value declines of over 10%. The main tracking targets included the Advanced Agriculture Index, Precious Metals Index, and Biotechnology Manufacturing Index. The sharp decline of these indices was the main reason for the poor performance of the products—during this period, Huaxia Wealth Management’s Precious Metals Index fell 13.75% in one week.

It is worth noting that the Huaxia Wealth Management Biotechnology Manufacturing Index has been in a downward trend since January this year. As of March 23, the index had fallen 23.86% from its January high, continuously dragging down the net value of related wealth management products.

Top equity wealth management products with net value declines from March 16 to 23

Hybrid products are also under pressure, with quantitative index and FOF products experiencing notable declines

The stock market adjustment also brought significant net value declines to equity-oriented hybrid wealth management products. Some quantitative index and FOF products saw the largest drops, especially those with higher equity allocations.

For example, the third-largest net value decline during that week was “Sunshine Orange Preferred Fund Treasure,” which at the end of last year had an equity asset allocation of 78.26%. Its top ten holdings included popular stocks like Tencent Holdings and CATL, as well as some state-owned enterprises.

The fourth-ranked product, “Ning Silver Wealth Ning Win Hybrid Carbon Neutral Open-ended Wealth Management Product No. 1 (minimum holding period of 1 year),” had an equity asset ratio of 68.83% at the end of last year. Its top ten holdings included A-shares and Hong Kong stocks, mainly in new energy themes and cyclical stocks.

Top hybrid wealth management products with net value declines from March 16 to 23

“Fixed Income+” faced dual shocks from stocks and gold, with gold-enhanced strategy products experiencing significant declines

“Fixed Income+” wealth management products mainly invest in fixed income assets and are generally less affected by stock market adjustments than equity and hybrid products. However, some products still experienced notable net value declines, especially those with allocations to gold assets, which suffered a “double hit” amid declines in both stocks and gold.

During the week of March 16 to 23, the product with the largest net value decline was “CITIC Wealth Rui Xin (Stable Gold Growth) Fixed Income Minimum 1-Year Product Phase 1A.” The product’s prospectus shows that, besides primarily investing in fixed income assets, it also plans to allocate to equity assets and commodities mainly in gold. During that week, both stocks and gold declined simultaneously, leading to a 2.24% drop in the product’s net value. As of March 29, the product was still in a loss, with a return of -1.49%.

The second-largest decline was “Ning Silver Wealth Qin Ning Tain Jin Fixed Income Daily Open 30-Day Wealth Management 2,” which also favored gold allocation for enhanced returns. By the end of last year, its top ten assets included gold ETFs and related funds, with a total investment ratio of 10.66%. The sharp drop in gold prices caused these ETFs to decline, dragging the product’s net value down by 2.07%. As of March 26, its one-month net value decline was also significant, at 1.51%.

The third-largest decline was “CITIC Wealth Private Banking Selected Fuxing Fixed Income Minimum 270-Day Product,” which also favored gold. According to quarterly reports, by the end of Q3 last year, its top ten holdings included gold ETFs with a total investment ratio of 8.45%. During the synchronized adjustment of stocks and gold, the product’s net value experienced a rapid decline.

(Chart of CITIC Wealth Private Banking Selected Fuxing Fixed Income Minimum 270-Day Product’s net value over the past three months)

Top net value decline “Fixed Income+” wealth management products from March 16 to 23

Some products withstood the pressure, with full cash and deposit strategies performing steadily

Despite market adjustments, many “Fixed Income+” products maintained positive returns. During the week of March 16 to 23, the top-performing products included “China Post Wealth Management Xin Rui · Hong Jin Daily Open 1st Product,” “Ping An Wealth Management Flexible Growth Add Interest Daily Open 270-Day Fixed Income Product A,” and “Ping An Wealth Management Flexible Growth Add Interest Daily Open 270-Day Fixed Income Product C.”

Among them, Ping An Wealth Management’s Flexible Growth Add Interest series’ two products adopted very cautious investment strategies. At the end of last year, both were fully invested in cash and bank deposits.

Top net value increase “Fixed Income+” wealth management products from March 16 to 23

More “Fixed Income+” products experienced net value recovery in the past week, with Zhejiang Silver Wealth’s “Cong Jian Yong Jin” series of three products leading the gains.

These products, such as “Cong Jian Yong Jin 14-Day Holding 1st Product” and “Cong Jian Yong Jin 30-Day Holding 5th Product,” at the end of last year mainly held fixed income assets and public funds. Some also allocated to preferred stocks with less volatility than stocks. Overall, their investments are relatively cautious.

Top net value increase “Fixed Income+” wealth management products in the past week

Some hybrid wealth management products also saw rapid net value recovery, such as two products from Huaxia Wealth Management that performed well, with their equity investments at the end of last year including stocks and a significant portion of preferred stocks.

Ning Silver Wealth Ning Win Balanced Profit Smart Manufacturing Hybrid 5 (minimum holding 6 months) had major holdings in clean energy equipment, shipbuilding, and consumer sectors, with a weekly net value increase of 0.36%.

Products tracking indices such as water and electricity, new energy operators, and solid-state batteries also experienced notable net value gains.

Top net value increase hybrid wealth management products in the past week