新闻 > 经济
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China

多重监管发力 通道业务受影响最大券商资管谋出路

2017-08-18 14:13:35   

在日渐趋严的监管下,证券公司资产管理业务规模二季度出现回落。央行明年一季度将对同业存单实施新规,也会给券商部分资管业务带来负面影响。业内人士预计,三季度券商资管业务规模将继续下降,券商资管业绩或经历短期阵痛,回归主动管理是唯一出路。

  通道业务受影响最大

中国证券投资基金业协会数据显示,截至6月30日,证券公司资产管理业务规模18.1万亿元。一季度末,这一规模达18.77万亿元,较去年底增长6.77%,创历史新高。

券商资管单项数据显示,除直投子公司的直投基金之外,集合计划、定向资管计划、专项资管计划的资产规模二季度均有不同程度的回落。其中,以通道业务为主的定向资管计划的资产规模下滑最剧烈,环比减少6194亿元。

从月均规模排名看,6月末,中信证券、华泰证券资管公司、国泰君安资管公司依旧占据前三位。一季度末位列第四位的海通证券资管公司目前跌落至行业第六位,月均规模从8520亿元缩减至6527亿元,降幅超过20%。申万宏源以8036亿元的月均资管规模上升两个名次,升至第四位。中信建投虽规模小幅回落,但仍以7753亿元位列第五位。

“引发券商资管规模波动的主要原因是通道业务的规模变化。”业内人士表示,以海通证券资管公司为例,一季度末其通道业务占比近90%。到二季度末,其月均资产管理规模环比减少近2000亿元,同期的主动管理规模仅下降近60亿元。

“从某种意义上讲,部分资管业务实质发挥着‘影子银行’的作用,产生的问题不仅仅局限于金融系统,已影响了货币政策调控和监管政策意图的实现。如果监管不到位,可能造成风险积聚。”川财证券研究所所长陈雳对中国证券报记者表示,从这个角度看,去通道化是大势所趋,短时间内不会出现逆转。

“各项监管政策出台后,公司资管产品受到不同程度的影响。”一家券商资管业务人士表示,下一步,大集合产品不会继续增长。大部分券商在申请公募牌照,希望用公募牌照弥补这部分缺失。之前小集合产品受到热捧,但今年以来杠杆较低,融资人不愿通过这一渠道融资,加上二级市场比较低迷,产品销售比较困难。

该人士表示,券商资管固收产品也受到一定影响。一方面,市场利率变化较快,给产品造成冲击;另一方面,监管部门严控监管套利,固收类产品萎缩。目前多数券商致力于发展零售业务,但客户维护和销售成本较高,改善业绩的效果不佳。

上一页1/2下一页
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China

相关阅读

404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China
分享到:
0 0
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China

美图推荐

404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China

为您推荐

加载更多>>
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170818/31124252.html
Server: cms-8-252
Date: 2024/03/29 14:03:48

Powered by China
China