China’s First Bank Wealth Fund Index Maintains Stable Growth
In recent years, ICBC has been actively meeting customers’ demands for diversified wealth allocation. By leveraging its professional advantages in the fund sector and continuously improving the product and service system, ICBC has assisted customers in long-term stable investments. Take China’s first bank wealth fund indexes released by ICBC for example. As of the end of June 30, 2021, CSI ICBC Equity & Hybrid Fund Index (code: 930994), a subordinate index of the index series, registered a cumulative return of 108.93% since its release, greatly surpassing that of main indexes in the market. ICBC Dynamic Allocation Fund Index (code: 930995), another subordinate index, registered a cumulative return of 27.27%, outperforming the performance benchmark and remaining stable amid market fluctuations.
It is learned that, in order to help investors resolve the difficulties in choosing funds for investment, ICBC and China Securities Index Co., Ltd. jointly compiled the CSI ICBC Wealth Fund Index on July 12, 2017, an effort to provide individual investors with simple and practical fund portfolios to reduce information asymmetry in fund selection and help fund investors who have difficulties in choosing the right fund and right timing. Specifically, the CSI ICBC Equity & Hybrid Fund Index focuses on “fund selection”. It strives to select the most sought-after equity hybrid funds in the market at each stage. Customers with certain investment experience or customers who invest their surplus monthly fixed income in batches may refer to the index. The CSI ICBC Dynamic Allocation Fund Index focuses on both “timing” and “fund selection” by applying the idea of allocation of large-scale assets, which is suitable for customers to invest a fixed amount of money and hold it for a long term. Meanwhile, the two FOF products allocated by Fullgoal Zhicheng Selected and ICBC Zhiyuan with the foregoing indexes as the main performance benchmark are well-received by the market and the customers.
Industry experts point out that as a pioneer in the mutual funds industry, ICBC has accumulated profound channels and product advantages over the past two decades since it was approved to conduct agency fund business in 2001. With the implementation of the “No.1 Personal Bank Strategy” in depth, ICBC, by further giving play to its advantages in products and technology, has been accelerating innovation, and improving customer experience to help customers preserve and increase the value of their wealth and realize their “wealth management dreams”. As of the end of June 2021, the size of financial assets of personal customers managed by ICBC exceeded RMB16 trillion. In the past year, ICBC created nearly RMB250 billion wealth management income for its customers. In addition, ICBC has been leading the market in terms of the sales of mutual funds and the agency sales of government bonds.