Beijing East 8.8 How about the income?

BEIJING-East Financial Publicity page shows that the product highlights are 8.8% fixed-year payment rate, docking is Cathay Health pension regular payment of hybrid securities investment fund, will be officially opened on April 15.

"Here, it needs to be highlighted that 8.8% refers to the ' 2014 8.8% cash payment ratio ' rather than the annual rate of return. At the same time, it is a hybrid fund, not a monetary fund. "Beijing East Finance related staff pointed out.

Huatai Securities fund industry analyst Wangle also told reporters that 8.8% cash payment ratio and expected rate of return are two concepts, investors need to understand; In essence, it is a common hybrid fund, just a regular payment.

It is noteworthy that, compared to the previous balance treasure and the balance of the treasure products, the recent Xinhua Ali and "Jing Dong 8.8" so that ordinary investors feel more and more ugly understand, internet banking products seem to be becoming more complicated.

Cash payment ratio ≠ expected rate of return

April 11, Jing Dong built "super Wealth management Products"-"Jing Dong 8.8", in the Beijing-East financial platform debut, and will be formally opened on April 15.

Reporters to the Beijing-East Financial website to understand the publicity page, the product subscription amount of 100 yuan, the single user subscription without limit, the total scale of product recruitment of 1 billion yuan, fixed-year cash payment ratio of 8.8%.

The reporter found that "Jing Dong 8.8" has several characteristics: first, do not promise the proceeds, but will be at the end of each quarter January 20, to 8.8% of the annual cash payment ratio to pay the user cash; second, the redemption rate will decrease with the length of the user's hold, such as 6 months or more but less than one year, and the redemption rate is 0.1%. Third, do not undertake to preserve capital; Finally, the proportion of portfolio asset allocation is mainly bond, and stock is supplemented.

For regular payments, Jingdong Finance's propaganda page explains, means that the Fund, in accordance with the agreed annual cash payment ratio, periodically pays a certain amount of cash to the fund share holder of a regular payment mechanism that voluntarily chooses to participate in the Fund on a quarterly basis, and the holder of the fund share does not have to pay redemption fees for such automatic redemption. This mechanism helps investors lock in investment returns in a timely manner, with a view to providing investors with an expected clear cash flow per quarter for household expenses.

"The product provides customers with regular cash payments, support at any time redemption, the benefits of a sound and so on, is a new innovative products, before the electric business platform has not appeared." However, it needs to be stressed that 8.8% refers to the ' 2014 8.8% cash payment ratio ', rather than the annual rate of return. At the same time, it is a hybrid fund, not a monetary fund. "Beijing East Finance related staff pointed out.

Wangle said that 8.8% of the cash payment ratio and expected return rate are two concepts. In fact, the product is very ordinary, but in the marketing is very gimmick, because it is related to the Internet concept, in essence it is a common hybrid fund, but is a regular payment, which requires investors understand that it is related to the capital market, if the capital market falls, the product will be a loss, but there is a mandatory dividend mechanism in the inside.

Wangle said the product is based on a hybrid fund, whether the fund is a loss or not, the last month of 20th each quarter, the 8.8% annual cash payment ratio to the user to pay cash. If the yield of the fund is less than 8.8%, the client's fund assets will become less. However, at this point in the future of the capital markets, the hybrid fund yields still hope to outperform 8.8% of the yield.

Financial Analyst Yin Yanmin also pointed out that the regular payment of bond funds is not the emphasis on capital appreciation, and is designed to provide investors with regular cash inflows. Simply put, even if the yield is less than 8.8%, the fund will be in accordance with the agreed period and yield to investors dividends, but the decrease is the investor's principal share.

Internet financial products are constantly makeover

Journalists have found that regular payment funds have become popular since the first batch of regular payment funds was launched last June. 2014, there are also a number of fund companies to launch this type of fund products, such as the Bank Schroeder regular payment of double interest balance mix.

"The regular payment mechanism helps investors lock in investment returns in a timely manner, with a view to providing investors with an expected clear cash flow per quarter for household expenses." However, when the net growth rate of the fund is lower than the annualized cash payment ratio, the holder of the fund's share may face the risk of periodic payments with the amount of its initial investment. The Beijing-East Financial publicity page points out.

Wangle said that the reason for the regular payment of products is the Investor investment fund, mainly through the fund net growth and dividends to obtain income. Generally, investment funds are long-term investment, investors in the investment period mainly through dividends to obtain cash flow. Compared with the fund dividend, "regular payment type" fund breaks through the fund "income to make up the previous year's losses before the annual loss can be allocated", "income distribution after the net share value can not be below par" and other restrictions, regularly in accordance with the agreed cash payment ratio for cash payments, This method of payment provides a new investment choice for investors who want regular cash and long-term capital appreciation, and can meet the cash flow needs of daily living expenses while enjoying the value of capital investment.

It is noteworthy that the original balance of the big hot products and the "Go to specialization" design is not unrelated, that is, "WYSIWYG, see can be used", breaking the traditional fund terminology difficult to understand the atmosphere. But compared to the balance of precious products, the recent Xinhua Ali, "Jing Dong 8.8" seems increasingly difficult to let the general investors see that the Internet financial products seems to be becoming more complicated.

"In fact, this product is not complex, the idea of the Internet and the traditional fund is different, it only changes the shape of the product to meet the needs of the Internet market, but the essence of this product has not changed." ' Jingdong 8.8 ' is just a hybrid fund that is plugged into the Internet through the concept of regular payments, because if you don't change your profile, it's hard to sell it on the Internet under the General Fund. "Wangle points out.

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