The difference of cost of financial products makes investors dry

Despite the financial crisis raging, but the domestic commercial bank's wealth management product sales growth rapidly. And successive interest rate cuts led to a decrease in interest rates for commercial banks, but did not have much impact on the ability of banks to make money. According to the annual report of 14 listed banks in 2008, their median business income was as high as 166.2 billion yuan, accounting for 28% of after-tax net profits.　　Intermediate business income reached 47.2 billion yuan in the first quarter of 2009, accounting for 40% of net profit. Banks help customers make money, while making money from customers, regardless of whether the customer can make money, the bank will certainly be able to make money.　　This is the reason why commercial banks make great efforts to promote financial products. According to the annual report of 14 listed banks in 2008, their median business income was as high as 166.2 billion yuan, accounting for 28% of after-tax net profits.　　Intermediate business income reached 47.2 billion yuan in the first quarter of 2009, accounting for 40% of net profit. While American banks are worried about whether they will go bankrupt, domestic banks are making a big profit, and the credit is a huge sales of banking products.　　The main sources of intermediary business of commercial banks include clearing and settlement, guarantee commitment, consultancy, bank card and financial related business, and experts from Financial Research Institute Silver Net say that the change of financial management business has the most influence on the change of fees and commissions income. Financial services to make up for the spread of income gap despite the crisis raging, but the domestic commercial bank's wealth management products sales increased rapidly.　　And successive interest rate cuts led to a decrease in interest rates for commercial banks, but did not have much impact on the ability of banks to make money.　　Data show that ICBC 2008 years of financial products sales and agent insurance business income increased by 3.1 billion yuan, compared with the previous year's growth of 89%, personal wealth management products sales reached 1.3 trillion yuan, year-on-year growth of nearly 8 times times.　　CCB 2008 Personal Wealth management products also sold 383.8 billion yuan, personal finance and personal gold and other business become a personal bank intermediary business new revenue growth. According to a quarterly bulletin of Bank of Communications, the company's first-quarter spreads fell markedly, to 2.26%, down 92 points from a year earlier in 2008, and 30 points lower than the four seasons of 2008.　　However, intermediate business receipts, including fees net income and derivative of the fair value of the changes in the income significantly increased the first quarter of the performance, intermediary business accounted for the proportion of operating income from 13.9% to 18.06%. In the sales of financial products, domestic banks pay more attention to the cultivation and accumulation of high-end customers.　　Bank of communications, said the company's wealth management business as the core development strategy in the positive progress, the first quarter of the private high-end customers accounted for a comparison of four last year, a 0.55% increase. According to the "April Commercial Bank Financial Products Report" published by the Institute of Trust and Financial management of the Southwestern University of Finance and Economics, the bank issued a total of 441 financial products in April, although it declined slightly compared with 474 in March, but the distribution subject of financial products continued to increase. Some small and medium-sized banks began to participate in the financial markets this month, such as the Bank of Chengdu this month issued its firstMoney management products.　　Commercial banks to fight wealth management brand war, such as Minsheng Bank's "extraordinary wealth", Everbright Bank's "Sunshine Wealth", the Bank of communications "Ward Wealth", China Merchants Bank "golden Sunflower" and other wealth management brand is the bank vigorously promote the main business. The cost difference also becomes the product selling point many investors in the bank to buy financial products, are mistaken for the bank to sell products without charging any fees.　　But we can see from the income of the intermediary business of the bank and the full development of the financial management business, the cost that the investor buys the wealth management product in the bank is not low.　　If there is no cost clause in the bank's financial products purchased, investors should also note that the terms of the financial products will be accompanied by the terms of the performance extraction, the majority of product costs will be directly deducted from the net product value, the product will charge a certain management fees and custody fees, as well as management fees for excess income. There are also some bank's financial products are clear rates, charging standards between 0.5% to 3.3%.　　The cost of bank financial products mainly includes subscription fee, redemption fee, product annual management fee, annual trusteeship fee and excess performance compensation.　　such as Everbright Bank recently launched a solar asset allocation program-robust portfolio of financial products, the cost of 0.95%, investment period of 36 months, if the early redemption, the holding period is less than 730 days redemption fee of 0.5%, holding period of more than 730 days of the redemption fee. From HSBC, the reporter learned that the recent issue of an open overseas fund Fidelity fund-Taiwan fund product costs are relatively high, to 2.5%.　　In addition to the management costs, the purchase amount of 400,000 yuan below the 2.5%, 400,000 (including) to 2.4 million 2%, 2.4 million and above 1.5%. Investors in the purchase of financial products, should be clear to invest in this financial products generated by some of the costs, if the cost is too high and investment income is not too high, then the purchase of this product is not cost-effective is debatable. Recently, some of the more popular short-term financial products are not without any cost.　　such as the Beijing Bank in the "worry-free" series No. No. 2009090: "Cash Flow" RMB 1-month wealth management products, its sales service charge of 0.4%, investors to buy the cost of this financial products: financial principal x0.40%÷360x actual financial days. Link management fees When investors buy financial products, because part of the cost of financial products is attached to the terms, investors will not notice, and financial sales staff usually do not with investors to show. So how to calculate the management cost of financial products?　　The Bank of Shanghai issued a maturing product "hui-choi" renminbi drip gold 6-month term financial products for example. The product expired on May 10, the period of 6 months, the product is divided into ordinary personal customers and individual VIP customers, both of which are due to the yield of 4.1%, that is, 10,000 yuan per investment income of 205 yuan, but this 205 yuan includes the management fees charged by the bank. SilverLine on the ordinary individual customers charged 9 yuan per million of management costs, individual VIP customers every million charge 5 yuan management costs. If the average individual customer buys 100,000 yuan, the final gain is 2050-90 = 1960 Yuan. If the individual VIP customer buys 1 million yuan product, then the final profit is 20500-500 = 20000 yuan. (Seasonal boat)