Fund electric business expands to meet "ceiling" self-built entrance to seek a breakthrough

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The current status of the Fund's industry, although there is no authoritative data statistics, but the industry has its own views on the rankings.

The head of a large fund company in Shanghai said that most of the company's development is uneven, some even just started. Presumably the standard is that the team and the hardware build a big lead peer, one, two products have a certain degree of visibility, direct sales platform or cooperation with external organizations have a certain effect, Huaxia, Hui-fu, Guangdong is the first echelon of this, Ka Real, Yifangda, etc. belong to the second echelon, they are characterized by quick reaction, willing to throw money; The rest belongs to the third and fourth Echelon. In addition, Tianhong Fund and all public offering electric dealers are not in an equal level.

The rules of the Internet industry are "winner-all", but it is far from time for the dust to settle. 90% of all fund products purchased through the Internet platform are money funds, and as the growth of currency products slows, fund companies and Third-party platforms are looking for new growth and entry-level products.

Fund sales find channels busy

"Huaxia Fund direct sales platform customers have 4 million ~500 million." "Huaxia Fund company told the Daily Economic news reporter, this is about the size of a medium-sized fund company's customers."

Huaxia Fund in the Internet financial sector layout mainly through "walking": Direct sales platform to push Cash Management account "current" and the large Internet company bat (Baidu, Ali, Tencent) cooperation drainage. As of the first half of this year, China's "current" scale reached 87.8 billion yuan, and Tencent Micro-letter platform to cooperate with the "financial management Pass" scale of 62.2 billion yuan.

The first echelon of the fund companies, almost all rely on similar development path. GF Fund is currently one of the few fund companies in the deep-plough Taobao store.

Last November, the online fund company Taobao Shop, now has not just opened in full swing, due to the high cost of development, sales and more limited, some fund companies have almost abandoned this channel.

"The amount of Taobao shop will not be very large, but this is the need for business layout, we have Taobao as an external cooperation platform is a very important part, in addition to sales and display brand, product function." "GF Fund electric business sector people frankly, at the same time, the GF Fund and Baidu cooperated to develop the hundred index, and Tencent cooperated with the financial management pass, each platform must try."

Willing to pay resources to each channel to try the fund company, continued the traditional sales in the "Shop channel" play, that is, through a number of products to each bank channels are occupied, in squeezing the opponent market space, but also for their own more cooperation.

In addition, in the emerging internet financial sector, in addition to the establishment of the direct sales platform, the fund company's peripheral breakthroughs are more than four types of organizations and cooperation.

One is the sales license of the third party sales agencies, such as every day fund network, good buy funds, a number of meters fund network, such platforms are mostly "fund supermarkets" in the form of the existence of cooperation with the main product consignment, access to the fund more companies.

The second category is the Third-party payment agencies with payment licences for funds, including Alipay, tenpay, etc., cooperation is limited to the Monetary Fund, and the choice of cooperative fund companies is exclusive.

The third category is the Third-party E-commerce platform. Unlike the distribution platform, the Electronic business platform is mainly for investors and fund trading activities between the Fund to provide ancillary services to the information system. Currently eligible only Taobao and Beijing East Two, as of June, Taobao platform of the fund company has 31, Beijing-east platform has 7.

There is also a type of agency is neither the sales qualification, nor the payment of licences, the fund company only to import traffic, do not produce data interaction, such as Baidu, Suning, Gome and major operators.

June 16, China Securities Investment Fund Industry Association issued the "China Securities Investment Fund Industry annual report (2013)" shows that in the Fund's total recognition, purchase volume, 2013 direct sales channels to 45% of the market accounted for the first time over the bank channel. In addition to the first type of fund agencies listed above, fund companies in other platforms sales are included in the direct marketing channel.

Through the Internet to sell the fund products, a fund company marketing department told reporters. "More than 90% of the products sold by electricity dealers are money funds." "Some fund companies that have not been able to launch the Internet or mobile Internet-enabled currencies are mired in scale anxiety, and companies that still rely on old channels for sales are moving slowly, not up and down." "Now it's like rowing, others are growing very quickly, and they're slipping away with a little inattention." A fund company market department Personage laments.

Unlike the three big internet giants of the early swarm of bat (Baidu, Ali, Tencent), the fund company has been trying to broaden the outreach of its cooperation agencies and explore new paths.

A fund company person to the daily economic news reporter said, "The electric business department to do business negotiations colleagues are very busy, has been running outside, contact various types of companies." As long as there is money to settle places can develop financial services, such as a variety of shopping cards, traffic cards. ”

The bottleneck of the expansion of the cargo base

Stock funds performance is not satisfactory, bond funds and qdii funds, although the performance is good, but the market reflects flat, the 2014 on the basis of the Fund of the balance of financial products continue to become major companies to expand the scale of the sharp weapon.

However, the growth rate of various "treasure" funds began to slow in the two quarter of this year, with the decline in the yield of the money fund and the emerging market for other Internet wealth-management products. Therefore, the fund company for the future of electric business to find out, also imminent.

According to the information disclosed by the Tianhong fund, as at June 30, the balance treasure size amounted to 574.16 billion yuan, the scale of the end of the first quarter grew 33 billion yuan, far less than 356 billion yuan in the first quarter of the scale of growth.

A Shanghai fund company Electric Business personage analysis, said that the balance treasure was accepted by hundreds of millions of customers, on the one hand, the structure of the Money fund is simpler, and the risk of money fund is relatively small, in line with the majority of customers investment risk preferences. Investor enthusiasm is cooling as money-fund yields fall to normal levels and the size of the balance treasure slows.

Other sales platforms show the same. Every day, the fund net sales of 38.5 billion yuan this year, more than last year's sales since the line. It is understood that about 30 billion of the funds are for the Money fund, and this year's two-quarter growth also slowed.

In addition, the channel through the third party platform diversion to the Money fund, also has the more and more high cost pressure. It is understood that Taobao is ready in 9, October on the service charge model adjustment, the intention to increase the Monetary Fund sales service fees and bonds, equity funds flat.

In this case, some fund companies to the "Daily economic news" reporter said, "If this adjustment, we may not be in Taobao store to sell money funds, because it is not cost-effective." "In fact, fund companies sell money funds through third-party platforms and are basically in a state of not making money."

The change of macroeconomic condition is also an important factor that affects the contraction of Monetary Fund expansion. Macro Source Securities analyst Chen Guanglei analysis, "when the macro-economy is in a recession or recovery phase, money market funds can basically maintain a relatively stable weak growth rate, and the recession stage of money market fund growth in the support of better than the recovery phase; When the macro-economy enters the overheated stage, it has a strong inhibitory effect on , the stagflation stage plays a significant role in promoting money market fund expansion. ”

Chen Guanglei that in the next year or two, China will be difficult to enter the overheated economic stage, there is a double pressure of economic downside risk and inflation, between the recession stage and the stagflation stage. This is also the rapid development of China's Internet financial and money market funds, the recent emergence of callback and partial contraction of the important reasons. In the short term, China's economy will be critical to the recession and the stagflation phase may be difficult to break. Therefore, the development of internet finance and money market fund, to maintain the current growth level of small fluctuations is likely to be greater.

Test water non-cargo base products

Monetary Fund growth has been showing signs of weakness, but the fund has introduced a new group of Internet clients to fund companies as mines they have not yet mined.

Outside the Fund, fund companies and third party platforms are looking for new growth points. Non-currency products are relatively more complex and riskier, and fund companies can only let investors "try" these products by giving them the benefit of the way.

GF Fund in May launched a "plan C"-on the direct sales platform, the 20 of its partial-stock funds free purchase, redemption fees (holding more than 30 days), only to the day of the 0.4%~0.6%/years of sales and service charges. Under normal circumstances, even if played 40 percent, partial-stock fund purchase and redemption costs still reach more than 1.1%.

"The spirit of the Internet is ' free ', a lot of customers are actually very concerned about the rate issue, we hope that by lowering the threshold of the form, to attract new investors to try the partial-stock products." "The Electrical and commercial Department of the Guangdong Foundation said.

"In addition, we are considering that there are some customers who like to do the band and want to meet their needs." "GF Fund Electric Business People told the Daily economic news reporter, according to its statistics 25% of customers like to use stock funds to do the band, the redemption is more frequent." At present, the GF Fund direct sales platform through the "C Plan" subscription fund of the stock size has been about 100 million yuan. At the same time, gdb Taobao shop, began to implement 0 rate after the purchase base, the number of sales also significantly increased.

This June, the fund launched a mobile phone app "Money". The tradition with the fund company is based on trade, service application is different, "to money" more like a game: registration can obtain a certain amount of virtual experience gold, investors can determine the size of large-scale asset allocation and transfer time, at the same time authorized Ka really large categories of asset allocation within the scope of the selection of funds, the combination of investment, Huang Yili, vice-president of wealth, called it a semi-autonomous "custom account".

The benefits obtained during the virtual experience period can be transferred to the real account of the investor, but if there is a loss, the investor does not need to undertake, and the real account is required to authenticate and bind the bank card.

The Merit fund attracts the user through the revenue reward way, aims at promotes the wealth "the custom account" service. According to Huang Yili, half of the virtual accounts turned into real accounts in the one months after the "come Money" line.

In the "Come Money" recommended asset allocation, the Money fund no longer sings "one-man", for example, the most recent investment allocation proposal "money fund accounted for 55%, bond funds accounted for 25%, equity funds accounted for 20%". At present, "come money" behind the fund products are 40 languished fund company Open-end Fund. And Ka real wealth "custom account" covers the market-wide fund products.

"From the promotion of custom account" can be seen, KA real future important business development direction, is the investment care services. "This is a direction for future funds to provide value-added services in the field of electricity, but it is not easy to operate," said the marketing department of a Shanghai fund company. "There needs to be a considerable amount of customer first, followed by a rich pool of products, and a scientific, tested selection of the logic of the Fund." ”

Convert potential customers cautiously

"The most valuable development of this round of electric power business is the acquisition of a group of Internet customers." "said a person in the electric business Department of a Shanghai fund company.

Since 2008, the Fund's effective accounts have remained relatively stable, but the total number of effective accounts in 2013 has risen markedly compared with previous years. In particular, since the second half of 2013, with various types of Internet agencies involved in the fund sales, the number of fund accounts has increased rapidly.

According to the China Securities Investment Fund Association, as at the end of 2013, the total number of funds accounts for 287.7346 million households, compared with the end of 2012 increased by 60.5604 million households, of which the number of valid accounts for 86.971 million households, compared to the end of 2012 increased by 10.6139 million households, an increase of 13.9%.

The director of electrical business, a big fund company in Beijing, said although these Internet customers are only money fund customers, the benefits are not high, but from the industry, this part of the majority of customers are not lost, the future are other business potential customers, for the fund company is a very valuable asset.

Recently, Tianhong fund announced the balance treasure 100 million total user volume of large data, it more accurately depicts the Internet financial market users characteristics. The average age of these users is only 29 years, and males are higher. They have a higher degree of acceptance of new things, but they don't understand investment finance. They can be used for investment finance Limited, the amount of each household holding only 5000 yuan, which means that they have higher capital turnover, liquidity requirements will be higher, risk tolerance is also relatively weak, the loss of acceptance of a lower degree.

The Fund Association's questionnaire Survey on Internet Personal fund investors also showed similar characteristics, with 30-year-old investors being the largest, reaching 38%, more than 70% Internet Personal Fund investor under the age of 40, and the people under the income of 100,000 yuan after tax is the main purchase, accounting for 60%. Most of these investors have no or only basic knowledge of fund investment.

Traditional customers mainly rely on the recommendation of the channel, a pair of push, the fund company to the Bank channel incentives, customer managers to obtain incentives to push products to customers. As far as the customer is concerned, the fund product is actually a scanty understanding, belongs to passively accept. And the Internet customer's autonomy is stronger, the customer and the fund company's relation is interactive, the fund company seek the customer, the customer also is looking for the fund.

"We observe that the Third-party sales platform on the customer's impact is very limited, customers have a strong choice of autonomy, so on these platforms are products to speak." "A reporter for the daily economic news," said the company's electric trader.

"This new group of customers is very valuable to avoid the mistakes of the 2007 customers, so we are very careful now, afraid of hurting this group of customers." Said the electricity business Department.

Therefore, although some fund companies through more than a year of hard work, direct sales platform has a lot of customers, but not rash. "We now have millions of customers on our direct sales platform and most of them have bought the money fund, but we have not yet planned to transform these customers because we have not yet developed enough attractive products." "A large fund company, the head of the electricity business said.

Since the balance treasure out, the market is similar to the balance of products in endless. For the fund industry, the return to the product itself, break the balance treasure model, we have to find a good combination of risks and benefits of the balance point, which is the entire fund industry breakthrough innovation the biggest difficulty. For now, innovative products that break the balance and are tightly integrated with the Internet have not yet emerged.

"The market has not formed the wealth effect, temporarily does not have the new product which is suitable for the internet, also did not see the new change and the trend, still is mainly the money fund", Beijing a big fund company Electric business director to the reporter said.

For customers on Third-party platforms, fund companies are also cautious. "It doesn't make much sense to turn affiliate customers into direct customers. On the one hand may offend the third party platform, on the other hand even if transformed, also not necessarily can provide the customer very good service, may also have the reaction. "said the marketing department of a medium-sized fund company.

Focus on the Customer experience

Some fund companies that have a bit of an idea about the Internet financial sector are laying out their own entry-level products, but that's not easy. Before the wealth effect has been formed, providing customers with a better experience has become the most important.

Prior to this, Huaxia fund spent a lot of energy to promote the "current" account, "current" docking Huaxia cash increase money fund, the end of June to reach 87.775 billion yuan. The 2013 current-account turnover of nearly 80 billion, of which mobile client transactions accounted for One-third.

"Current" app since its development, has also undergone several improvements to optimize, Huaxia fund, the head of the electricity business to the "Daily economic news" reporter said, "The latest version 2.0, we find the Internet companies to do the assessment, there are multiple security measures." The interface is also more concise, opening channels to increase, but also to share the function, there are more adapt to the Internet trends, the premise is to ensure that we are professional investment in the app. ”

Huaxia Fund, the head of the electricity business, said, "for the fund company, the need to do their own vertical professional things well, to give customers a better user experience, to provide more contact with customers." The purpose of the client is to invest money, to make the customer feel that you are professional and safe, and these are the things that can be alienated from others. ”

Public offering funds for social customer service exploration and innovation is underway. Chen Zanhui, chief operating officer of the Fund, has said that social mobile internet combined with large data, based on customer transaction behavior, customer service behavior, analysis of customer products, service characteristics, and based on user product development and design, and then accurate customer marketing push to have a broader space.

June 13, Tianhong Fund for the balance of treasure for the user to build a "treasure Powder network" officially online. Tianhong Fund said that the treasure powder network for the billion "treasure powder" to provide an official exchange platform. The property of electric quotient and social property is a direction that expands vigorously in the future, try to let the balance treasure have more new play.

From the current design of the Treasure Powder Network, Tianhong fund is aimed at a group of low age users, to games and gifts as a "powder" drainage means, which with the balance of Bao to "after", "the" and "" "for the main features of the user matching.

According to Tianhong fund Personage discloses, the current treasure powder NET user has hundreds of thousands of. Now the amount of data is still too small, now doing is the accumulation of large data, the future will be based on the user's behavior of the treasure powder mining analysis.

"Through the treasure powder network of customer behavior to dig out the big data, more is to apply it to the front-end." Tap into the needs of customers, purposeful design of some products. "The above day Hong Fund personage says, this and before according to the balance treasure launch large data latitude is not the same, before the balance treasure large data more focused on the name, ID card, address, transferred out time and amount, and the Treasure Powder network is a social platform, users will ask questions, vote and so on.

And the introduction of the app fund "money" is also positioned as "financial + social".

"Money" and "treasure powder", the eyes are young people. Huang Yili told reporters, "To do ' money ' before, our department has gone out to do research, into the young people do not know how to invest, to understand what they need." "From the latest data," to the money "customers," 70% ", of which" 85 "accounted for 55%.

Huang Yili said that the current "money" has been with active young people more social platforms, such as everyone, micro-credit, micro-blog and other social networking sites are docking. From an investor's point of view, be sure to invest in social platforms. Around their own customers to do some operations, more conducive to improving the user's viscosity and active degree. Beijing, a small and medium-sized fund company, the owner of the electric business told reporters, the key is how to operate, to which direction guide. Social functions, if run well, will extend a lot of things, such as the evaluation of micro-blogging function, extended to the fund social functions, such as a good investment program out, the effect will be better.