Bank's Weekly Data on Wealth Management Products: 7-day YTD of cash management products is 1.69%, down more than 50BP

As of October 27, 2024, the near-7-day yield of cash management-type wealth management products was 1.69%, down 4BP from the previous week. The 7-day yield of money market funds was 1.51%, down 3BP from the previous week, and the yield gap between cash management-type wealth management products and money market funds was 18BP, down 1BP from the previous week.

As of October 27, 2024, the near-1-month yield of daily-opening fixed-income non-cash wealth management products was 2.20%, down 21BP from the previous week; the near-6-month yield of closed 6-12-month fixed-income products was 3.35%, down 4BP from the previous week; and the near-1-year yield of closed 1-3-year fixed-income products was 3.77%, up 1BP from the previous week.

From October 21 to October 27, 2024, the total amount of maturing products of the wealth management companies was RMB258bn, with an average maturity rate of 53%, down 5 percentage points from the previous week. Among them, the maturity rates of Hengfeng Wealth Management, BOC Wealth Management, and Blackrock CMB Wealth Management were 100%. The data showed that the maturity rates of the wealth management companies' closed products performed better, with an average maturity rate of 82%, higher than the overall maturity rate.