Our reporter Chang Xiaoyu
The personal pension business is ready to go. On November 18, the China Securities Regulatory Commission released the first batch of personal pension fund directory and personal pension fund sales organization directory, including 129 pension target funds and 37 fund sales organizations. The following two directories will continue to be released regularly and dynamically modified.
The “Securities Daily” reporter learned from the industry that all the preparations for the shortlisted institutions have been completed, and it is expected that the personal pension fund business will be officially launched this week at the earliest ( need to wait for the notification to be released on the opening of the bank’s pension business) Buy Y shares of the pension target fund in the directory through the personal pension fund account.
The shortlisted fund companies are ready to be prepared
According to the list of the first batch of personal pension funds, there are a total of 129 pension target funds under 40 fund managers, including E Fund, China Universal Fund, ICBC Credit Suisse Fund, Harvest Fund, Wanjia Fund, and Bank of China Fund, their choice.
Among them, all 8 pension FOF products are listed under the General Fund of China. The General Fund of China believes that the speed with which the list was officially published this time shows that the regulatory authorities attach great importance to the development of personal pension funds.
The seven pension target funds managed by E Fund were also included. According to Fund E, pension target funds can be divided into pension target date funds and pension target risk funds There are 50 pension target date funds in the first batch of lists, which may include people with expected retirement dates from 2025 to 2050; target risk funds There are a total of 79 stocks, and the target risk levels are conservative, consistent, balanced and positive. In the first batch of lists, the largest number are fixed pension target funds, with a total of 58. The proportion of pension funds with target risk levels investing in equity assets does not exceed 30%.
It is reported that in order to cooperate with the soon-to-be-launched personal pension fund business, the China General Fund is actively preparing systems, products, investment research, investment education, marketing, etc.; The Harvest Fund renews the area pension; In terms of investment and research strength, Huaan Fund has made enough preparations; in addition, Huaan Fund has self-developed a “pension calculator” function to provide customers with reasonable investment advice for pension investment planning; and Yinhua Fund direct sales platform has also completed the personal pension business Related preparations.
Some fund managers also revealed the “planning map” to the “Securities Daily” reporter. ICBC Credit Suisse Fund said that in the future, it will continue to strengthen investment capacity building, improve product design, provide professional companionship, and improve holding experience. According to Yinhua Fund, it will continue to complement and extend the product chain, and provide more and more suitable products and services for investors.
The China Securities Regulatory Commission previously issued the “Interim Regulations on the Management of Publicly Offered Securities Investment Funds for Personal Pension Investment” (hereinafter referred to as the “Interim Regulations”), which clarified the standards for fund products that individual pensions can invest in, that is, “the amount of funds at the end of the last four quarters is not a Pension target Fund less than 50 million yuan or not less than 200 million yuan at the end of the previous quarter.”
In the future, the China Securities Regulatory Commission will accumulate experience in a timely manner and gradually include other funds suitable for the long-term investment needs of personal pensions in due course.
At the same time, the “Temporary Regulations” require that “individual pension funds establish a separate share category for personal pension investment fund business.” Therefore, if the funds entering the personal pension fund account want to buy personal pension products for the fund offering a public pension, they must apply for Y shares. According to the relevant regulations, sales service fees are not permitted for this category of shares, sales fees such as subscription restrictions and subscription fees may be excluded (other than fees that should be charged by law and included in the fund’s assets), and some rate reductions are excluded. act for management fees and custody fees.
The person in charge of Wanjia Fund’s related business believes that the personal pension business has a different inclusive nature, and the Y share rate reduction fully reflects the policy idea of benefiting the people, and it is also a specific measure for personal pensions to exercise common prosperity.
Since November 11, a number of fund managers have issued successive announcements to increase the Y share of their pension FOFs. To date, more than 100 pension target funds have added Y shares.
The sales organization uses the basic work of software and hardware
With the release of the directory, the sale of personal pension fund agencies has also officially started. The first batch of 16 commercial banks, 14 securities companies, including China Galaxy Securities, China Merchants Securities, Guosen Securities, and Huatai Securities, were included. in the directory of personal pension fund sales agencies, and 7 independent fund sales agencies including Yingmi Fund and Xueqiu Fund, a total of 37.
According to the person in charge of related business from China Galaxy Securities, the company has completed system design, team formation, system construction and joint debugging and testing work, and has opened the appointment function in some cities according to requirements regulatory; Start by contacting business partners and partners, and make every effort to do a good job in business preparations; Huatai Securities ZhangLe Fortune Path App has launched the “Pension Finance Zone” to provide services such as appointments. The relevant person in charge of China Merchants Securities said that the online work of related businesses is at its peak.
In addition to securities companies, preparations for independent fund sales agencies have also been completed. According to Yingmi Fund, the company has made sufficient preparations for the development of personal pension business in many aspects such as system development, pension planning services, pension investment, pension product sales, and investment consulting services.
The “Temporary Regulations” introduced higher requirements on operating status, financial indicators, corporate governance, internal control mechanism, and compliance management of sales agencies of individual pension funds. For example, sales agencies need to meet the requirement that the holding scale of stock funds and mixed funds at the end of the last four quarters is not less than 20 billion yuan, and the holding scale of individual investors is not less than 5 billion of it. yuan.
According to the arrangement of the Ministry of Human Resources and Social Security on directory publicity, in the subsequent directory update process, the information platform of the Ministry of Human Resources and Social Security and the China Settlement Fund Industry Platform will be connected through the system to update and release’ r directory of individual pension fund products and fund sales agencies in real time; the China Securities Regulatory Commission and the directory published on the China Asset Management Association website are updated at certain times every quarter.
Before the CSRC updates the directory every quarter, newly added personal pension funds and fund sales agencies that meet the requirements of the “Interim Regulations” can participate in the personal pension investment fund business after being included in the Ministry of Human Resources and Social Security and the China Settlement Platform.
(Editor in charge: Sun Dan)
