Amidst high-level fluctuations in the international gold market, gold-themed wealth management products continue to attract investor interest. As of October 23rd, there were 47 existing wealth management products with "gold" in their names. Banks' wealth management companies have become the core issuers, with leading institutions such as Everbright Wealth Management, CMB Wealth Management, and ICBC Wealth Management all launching such products, providing investors with diverse participation channels.
The issuers exhibit a multi-tiered structure, with 16 of the 47 existing products coming from banks' wealth management companies, accounting for over 30%. These cover state-owned banks, national joint-stock banks, and some city commercial banks' wealth management subsidiaries. A wealth management manager at a state-owned bank revealed that the gold market has performed exceptionally well this year. Coupled with increased investor demand for hedge assets, the scale of their gold-related wealth management products has grown by 25% compared to the beginning of this year, accompanied by a notable rise in customer inquiries. It is worth noting that on November 3rd, ICBC and CCB suspended new account openings and regular investment applications for some gold accumulation businesses, while existing businesses remained unaffected, reflecting adjustments in risk management for their gold businesses.
Product types focus on two main directions: "Fixed Income + Gold" portfolio products, which use fixed-income assets as a base while allocating a small amount of gold assets to enhance returns. These products balance stability and flexibility, and are suitable for investors with a medium risk tolerance; structured wealth management products linked to gold underlying assets, such as gold futures, spot prices, or related indices, feature higher return volatility, appealing to those seeking greater gains.
Performance is the core attraction, with some products achieving an annualized return of nearly 10% in the past three months, far exceeding ordinary bank wealth management products. This year, the average annualized return of these products has reached 4.69%. A structured product linked to gold by CMB Wealth Management has performed exceptionally well, posting an annualized return of 5.21% year-to-date and 9.87% in the past three months, significantly outperforming its peers.
Behind this popularity is the long-term support logic of the gold market. Factors such as the trend of de-dollarization and geopolitical risks have driven the high levels of gold underlying assets on the London Metal Exchange, making gold wealth management products an important channel for ordinary investors to share in asset appreciation. Industry insiders remind investors that fluctuations in gold prices may lead to lower-than-expected product returns, and institutions have begun to adjust their business management. Therefore, investors are advised to make rational choices based on their own risk tolerance and avoid blindly following the tren.