More Money And Less Money Make The Balance Cool.

Celestica Fund announced last weekend's balance Bao three quarterly report, the end of the three quarter balance treasure scale of 534 billion 900 million yuan. Compared with the 574 billion 160 million yuan at the end of the two quarter, the scale decreased by 6.8%, which is the first decline in the scale since the establishment of the balance treasure. It is worth noting that this decline is still in the three quarter of the new 2500 million treasure powder on the basis of people more money but less, which is also worrying, the balance of treasure has been declining, and quickly usher in the development of inflection point.

For the balance of the cold, Tianhong fund does not recognize the arrival of the turning point, it said that the main reason for the decline is that some of the high net worth customers with strong financial attributes have reduced their investment. As more cash management and shopping payments target customers continue to enter the balance of treasure, many of them have formed a wage transfer, then consumption, re entering, re consumption habits, the evolution of customer behavior makes the fund size fluctuations very small.

Obviously, such an explanation is not convincing. Celestica fund did not admit that the underlying cause of the decline was the weakening of the balance of money making effect. Although the balance of treasure has not fallen below the 4% integer mark, but from the end of the two quarter to now, the 7 annual yield of the balance treasure has been maintained at 4.2%, which is nearly 40% lower than that of the 6.73% peak in January. There is no doubt that the bottleneck of the once cock silk financial artifact is the loss of the money making effect of the balance treasure. A fact that can not be ignored is that more than 100 million of users consider the balance treasure as financial products Far from a minority, so far, the balance treasure propaganda point of sale, still make money in a prominent position.

At present, the number of users of the balance treasure has reached 149 million, and the 25 million quarter increased by 20% in the three quarter. It is clear that the positive correlation between the number of users of the balance treasure and the increase in scale has failed, and Bao powder has been the rapid expansion of the scale of the balance treasure to become the basic force of China's largest fund. Data from the central bank showed that RMB deposits increased by 8 trillion and 270 billion yuan in the first three quarters, up less than 2 trillion and 990 billion yuan compared with the same period last year. Such a large increase in the balance of deposits has not been cut off. It is clear that the enthusiasm of the market for the balance of treasure has dropped to a low point.

Insiders pointed out that, due to the three quarter equity market The effect of making money, the average income of more than 10% of the stock base will be part of the profit from the investment funds from the balance of the pool of diversion, and in recent years, the continued hot P2P net loan financing and so on, with higher profits also let the balance treasure become a spectator. What is more worrying is that once the 4% important income points can not be maintained, the decline of the balance treasure will be more obvious.

If at the end of the two quarter, the company used Yu Bao When the scale enters a stable development period, it can calm the speculation of the market. At that time, the company also has to face the fact that the scale of the balance treasure has come to an inflection point. At the first new financial Union summit held in June 29th this year, Wu Xiaoling, Dean of Wudaokou Finance College of Tsinghua University and former deputy governor of the people's Bank of China, said that the balance treasure had not much room for development.