On February 7th, in fact, it is not just holiday special products. Several banks and bank wealth management company personnel confirmed to reporters that there are special wealth management products similar to window funds in the market – high-yield ranking products. In the early stage of issuance, they attract investors with high yields, but after a period of time, the product yield will “plummet”. Everything is for the sake of quantity. Nowadays, the competition in the wealth management industry is fierce, and some wealth management institutions will do whatever they want to attract attention and sell well. At the beginning, they will launch small-scale wealth management products worth one or two million yuan, because the scale is small, it is easy to achieve high returns. Then, when laying out channels, due to their good historical performance, the sales agencies will place them at the forefront of the recommendation list. After the product opens up the subscription limit, it quickly attracts hundreds of millions or even billions of yuan of funds, but such high returns cannot be sustained in the long run and will fall down after a period of time. This is not a secret in the industry, and even bank channel parties will actively inquire about relevant matters. “A person from a wealth management company told reporters. (China Securities Journal)
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