Nearly 5 Of The Banking Sector QDII First Quarter Net Value Shrunk &Nbsp;

Renminbi in the first quarter of 2011 Conduct financial transactions The market is developing rapidly. Bank The introduction of high-yield products has been achieved. Investment People in favor of this, in stark contrast to the first quarter of this year, has only one new QDII product in the domestic market. Moreover, according to statistics of Puyi wealth, nearly 50% of the net value of QDII products decreased at the end of the first quarter compared with the end of last year. Among them, the average net value of QDII products such as Societe Generale and Construction Bank ranked behind.

Demand weakened in the first quarter of the new issue Q DII only one.

According to a newly released research report by Puyi fortune, only a new QDII was issued in the first quarter of this year, that is, the product of 3 year linked index, commodities and index fund Australian dollar bill issued by Citibank, which has been significantly reduced compared with the number of last year's issue (69 in the whole year and 38 in the first quarter).

There are multiple reasons for the decline in the volume of issuance: first, the appreciation of the renminbi continues and is expected to remain. Foreign currency financing products will have larger exchange rate risks and QDII demand will decrease. For example, the Standard Chartered Bank which issued more QDII last year turned to the RMB financial products with interest rate linked. Two, in the first quarter, especially in the middle of January to the end of 2, the yield of RMB money market was relatively high. Most Chinese banks set the direction of product investment in this field, thereby reducing the investment in overseas market products; three, because of the European debt crisis, the Middle East situation and Japan's earthquake tsunami, some overseas investment markets fluctuated greatly. At this time, QDII was established, and it was not easy to grasp risks. The report points out that causing QDII

Market turbulence QDII is not as good as last year.

According to incomplete statistics of Puyi fortune, by March 31st, there were 259 Q D II running. In the 259 products, the net value at the end of 2011 (the end of the first quarter) was greater than the net value at the beginning of the year (at the end of the fourth quarter of 2010), accounting for 52.90% of the total, accounting for 52.90%, which means that nearly 50% of the net value of Q D II decreased compared with the beginning of the period, and Q D II overall performance in this year is less than that of last year (last year's net value is lower than the early net value of only 23, accounting for 10.04%).

Fan Jie, a researcher at Puyi fortune, told the economic reference daily that from the perspective of investment currencies, the products of Japanese yen, Singapore dollar, US dollar and euro products were much more defective. The overall proportion of products whose net value decreased in the above currencies was 100%, 55.56%, 49.14% and 47.89% respectively. "We can see that the decrease in net value of Q D II in the first quarter was mainly due to the weakening of capital markets in Japan and Singapore and investment losses in the European market. This is related to the decline of Japan's economic data, the earthquake and the European debt crisis. In addition, this year, the economic recovery in Europe and the United States is not as optimistic as the emerging market. Due to geopolitical factors, the foreign market has been in turmoil, and it is also an important reason for the decline of the net value of Q D II. " Fan Jie said.

According to Puyi wealth statistics, the net decline in the first quarter was the most advanced of Citibank's November 2007 issue of "Valet overseas financial products - the Blackrock global fund new energy fund (US dollar Series)" (end of net value 0.5862, down 56.77%). Fan Jie said that this product is directly invested in the "BlackRock global fund new energy fund", which "at least 70% of the total net asset value of the world will invest in the equity securities of companies with huge alternative energy technologies, especially focusing on renewable energy, automobiles, in situ power generation, electric power storage and auxiliary energy technology", that is, direct investment in stocks, and its earning power is closely related to the asset management capability of BlackRock. A large decline has concentrated on the management of the fund.

Foreign banks' QDII products are poorly disclosed

According to statistics of Puyi wealth, the average net value of QDII of the four banks in each year is higher than the net value of the products issued in, followed by Standard Chartered Bank, Bank of China, Bank of China and Bank of East Asia. The average net end value of QDII, such as Societe Generale and Construction Bank, is in the opposite position.

Among them, Societe Generale Bank's "global financial services No. 2 - Hong Kong stock based Jinbao RMB" is lower than the net value of its other products, which is 0.7461. The QDII net value of the "Mo Genfu Lin Ming Asian wealth selection" of Construction Bank is lower at 0.77758. These two products have also become the "dragged" products of the two banks.

In addition, it is worth noting that 31 Q D II products expired in the quarter, of which 2 were issued in 2007, 12 in 2008 and 2010, and 5 in 2009. In terms of information disclosure, Chinese banks are better than foreign banks. For example, HSBC has not announced its due income through public channels, and its customer service telephone has refused to disclose to potential customers.

Fan Jie said, we do not recommend investors to invest in Q D II, because the pressure of RMB appreciation is still large this year, and because of macroeconomic, geopolitical and foreign market volatility is still relatively fierce. Unless investors have to hold foreign currencies for payment or other reasons, they can invest in Q D II appropriately. "We maintain our view of global inflation, but remind investors that we should avoid investments in crude oil and precious metals properly, because this part of the target has increased substantially. We recommend investing in consumer Q D II." Fan Jie pointed out.