How To Allocate Assets In The Era Of Low Interest Rate Is Hot

For the future trend of RMB, since the 8 / 11 exchange reform last year, the RMB has depreciated by about 10% in one year, and there may be downward pressure in the future. However, the collapse will not happen. After all, the fundamentals of China's economy determine the trend of RMB exchange rate, and China's economy is only slowing down now.

2016 the interim strategic Conference on China's fortune was held in Shanghai. The urbanization rate in China is still relatively low. It is not scientific to compare the Japanese property market with China at all times. In the short term, the quality housing in China's first tier cities still has certain investment value.

Around the theme of "how to allocate assets in the era of low interest rates", Lin Chieh Yi, Guan Qing you, Wang Guangyu and other industry chiefs expressed their opinions.

For the emergence of low interest rates and negative interest rates, Mr Guan said that the cost of borrowing is low, and this is an unprecedented opportunity for corporate development and personal asset allocation, which can be properly leveraged in the short term.

At present, the expected rate of return of the whole market has fallen by 4%, and the annual yield of money based funds has dropped from the peak of 2013 to 6%. The current rate is 2.4%.

In the overseas market, it is a radical implementation of the negative interest rate policy. At present, the global, Japan, Denmark, Switzerland, Sweden and other countries and the European Central Bank have implemented the negative interest rate policy.

In the era of low interest rates and negative interest rates, how to allocate assets? Jiang Weiyan, chairman of China established wealth, believes that under the background of economic downturn and declining investment returns, it is difficult for the current single standardized products to get 10% of the annual income. For wealth agencies, an important topic is to lead investors to change their thinking, that is, diversified and scattered asset allocation.

He also said, "from this point of view, we have been reflecting on the future of Fortune Management Inc. From this point of view, we and China soft capital have been in constant contact and exploration, and ultimately jointly create a brand new investment fund and investment concept, through a basic fund can help investors to do a more comprehensive configuration."

Wang Guangyu, chairman of China soft capital, said the fund, which was jointly built with China's fortune, is the tenth fund that China's soft capital has been involved in since its establishment in 2008. It can be defined as the "new economic new allocation fund".

He explained, "

We can still focus on the new ways of flexible allocation, and we will still focus on the new generation of information technology, high-end equipment manufacturing and new energy and environmental protection industries. We will work closely with the listed companies to implement the merger and reorganization of the industrial chain. We will also tap the investment opportunities of the two level market and the first and half market, actively participate in the fixed investment and even raise the cards, and focus on tracking the new investment opportunities in the direction of policy guidance, such as the merger of the state-owned enterprises, such as the acquisition of the new three Board companies. They will also pay attention to the communication with the regulatory authorities, and look for some investment opportunities in the crisis industry in the middle of the objective situation. Second, we also pay attention to the daily management of this new fund, supplemented by quantitative measures such as hedging and other high liquidity management, which will help to improve the fund's performance. The biggest difference between traditional private equity investment and traditional private equity funds stems from two points: first, we hope that under the new normal rate of interest rate, the fund will have a great difference.

This is different from other purely private equity funds. "

Layout overseas market

Lin Caiyi, chief economist of Guotai Junan Securities, believes that for high net worth people, the overseas allocation of assets is an objective demand for hedging investment, and the expectation of RMB depreciation strengthens this demand.

According to introducing, China set up wealth for the current high net worth people.

Demand includes a package of solutions including insurance and trust.

The property market or the opportunities for the property market and housing prices are also the hot topics of the forum.

Since 2004, Xie Guozhong, the chief economist of Morgan Stanley Asia Pacific region, has thrown out the "bubble theory" of the Chinese property market. Up to now, 12 years have passed, and every round of real estate regulation and control is accompanied by a market crash.

Recently, the domestic front-line and second tier hot cities have again launched the regulation of housing prices.

Many experts believe that the investment value of real estate in the first tier cities is not large, because the price of the first tier cities is too high, and the future housing prices will be overdrawn.

Some even put forward a theory of the collapse of the property market.

In this regard, Guan Qingyou, executive director of Minsheng Securities Research Institute, pointed out that "the price of the first tier property market in the short term is at the same time as the interest rate is bottoming out, but from the trend, the inflection point of the house price may not appear yet.

Of course, it is undeniable that because of the rapid rise in housing prices in a short time, there is a bubble in the first tier cities, but the bubble is broken within 3 years or within 6 years.