129750314442812500_74 The performance of broker-owned pipeline is excellent and anti-were redeemed to be quick dividends to retain clients. In theory, the rise in the stock market benefits the holder and manager of asset management, creating a happy situation, but this is not always the case. With the continued rebound of the A-share market, the performance paradox of the size of brokers' financial products has recently fallen back: the net value is far below face value, the product held by the holder is temporarily "safe" in terms of performance, outperforming bank products, but facing tremendous selling pressure. This reporter learned from the industry that Societe Generale Securities - one of its financial products, "Gold Phoenix Trading Up", is implementing a rapid bonus scheme, with expected dividends exceeding 5% at least. Notably, "Gold Phoenix Trading Up" is still within its position period, but next Friday, the product will end its closure, ushering in the first open day for purchase and redemption. "The high rate of return is one factor considered by the management for bonuses," according to sources close to Societe Generale Securities. The real reason determined by the manager for the dividend is due to the anticipation of huge redemptions. Among newly established financial products of brokers, "Gold Phoenix Consumer Upgrade" performs very well. Established on December 7th, this product alone has seen equity increase all the way. As of February 27th, the cumulative net value of "Gold Phoenix Trading Up" is 1.089, rising almost 9% since its establishment. After the first capital securities' "Gold Value Growth Phase 2", which was established on December 15th last year, the current cumulative net value is 1.0967. However, facts prove that redemptions are often fastest for products with outstanding performance and net values exceeding face value. A salesperson of broker-owned pipelines told the press conference that banks deliberately lead customers to redeem old money to purchase new products, contributing significantly to the phenomenon of "performance as well as possible redemption". "Several banks have greeted us, mentioning a recent task of 50 million yuan for new fund products. There is a product we manage in the bank, also close to 50 million yuan, and the net value is just over one point," the salesperson said, implying clearly. "The subtext of the bank's secret world gold is that we will advise customers to redeem old products; you need to prepare." For banks, only the customer's assets being "used" can achieve maximum benefits. Ideally, after customers buy financial products at the end of the 3-month period, they immediately redeem and buy new products under this cycle, earning up to charge. Since customers often do not want to hold "deep cover" products, advising customers to redeem slightly profitable products becomes a conventional "custom" in the industry. "In overseas mature capital markets, the better the asset management product performance, the more proof of the managing people's outstanding investment and research capabilities. Theoretically, it attracts more funds to join investments; however, domestically, products performing excellently may suffer decline due to redemptions, which is an unusual phenomenon," pointed out the industry. Currently, domestic asset management product distribution channels focus on commercial banking, where bank managers hold advantages in the negotiating process, not only obtaining high setup costs but also receiving a certain percentage of "trailing commissions" — meaning managers receive future management fees that are returned to the banking sector. "Too strong channel blade & soul gold objectively aggravates their myopia." If dividends can afford to retain customer effects, it remains unknown, but brokers generally are willing to try. For brokers, the critical factor in financial product collection size matters. Under existing regulations, if net assets fall below 100 million yuan for 20 consecutive trading days, it triggers liquidation provisions. Since the beginning of this year, already including the first capital, Huatai Securities, and Yangtze River securities arm have three collection products forced into liquidation. According to statistics, as of December 31, 2011, there were 22 financial products with total net assets less than 110 million yuan, among which 8 had net values higher than face value, undoubtedly becoming the most dangerous "substitute" for liquidation. Other news related to this topic includes Age of Conan gold becoming the largest shareholder. Ownership change - AIJ Tera Gold. The new village has a list of things - EUS Warhammer Gold kilometers to accelerate in 5.9 seconds - ET 129742323882031250_80 Age of Conan gold was hit in a row by Dongguan.