Securities Times reporter Li Shuchao
In the first quarter, the public offering fund sold for 1 trillion yuan, which also made the fund custody business of various custodians get off to a good start.
Data shows that in the first quarter, China Merchants Bank The scale of new funds under custody exceeded 150 billion yuan, accounting for 15%, Industrial and Commercial Bank of China More than 120 billion yuan ranked second, bank for economic construction 、 Bank of China The scale of new fund custody also exceeded 90 billion yuan. In the first two months of this year, explosive funds emerged frequently, becoming an important driver of the rapid expansion of fund custody scale of the custodian bank.
Custody scale of new funds in the first quarter
CMB, ICBC and CCB rank top three
Wind data shows that in the first quarter, a total of 37 custodians managed 1.07 trillion yuan of new funds.
Among them, China Merchants Bank continued its momentum in the fourth quarter of last year. This year, the total size of 60 newly managed funds was 156.874 billion yuan, accounting for 14.66% of the market, ranking first; ICBC followed with 123.452 billion yuan, accounting for 11.53%; The trusteeship scale of China Construction Bank and Bank of China both exceeded 93 billion yuan, ranking third and fourth respectively; Bank of Communications 、 Industrial Bank 、 agricultural bank Over the same period, the trusteeship scale exceeded 80 billion yuan, ranking the second tier.
The frequent occurrence of funds with explosive funds from January to February this year is an important reason for the rapid growth of the scale of custody of these banks.
According to the data, among the new funds entrusted by China Merchants Bank, Yinhua Xinjia's initial offering scale was 13.5 billion yuan, and the product raising scale of Huaxia Emerging Growth and ICBC Credit Suisse Yuanfeng for three years also reached 8 billion yuan.
Among the new funds entrusted by ICBC, Huitianfu CSI 300 raised 9.7 billion yuan for the first time, Qianhai open-source high-quality enterprises held 8.9 billion yuan for the first time in six months, and E Fund's core advantages, Jingshun Great Wall Industrial Trend and other first raised funds were also close to 8 billion yuan, all of which were explosive products with large scale.
Guangfa Growth Selection, which is entrusted with CCB, raised 11.3 billion yuan for the first time, and Fuguo created 8.3 billion yuan in value, all of which contributed significantly to the custody scale of CCB of 94.4 billion yuan. Penghua Huizhi Optimality, with an issuance scale of 11.3 billion yuan, and E Fund's strategic emerging industry of 9.3 billion yuan, were collected by the trustee Bank of China.
When talking about the rapid growth of fund custody scale of major banks, the head of a public offering market department in Beijing said that, generally speaking, the bank in which the public offering fund is managed will also be the main agent. When cooperating with the custodian bank, the fund company pays more attention to the fund sales ability of the bank, and the flagship products are also willing to be handed over to institutions with strong selling ability on a commission basis. Banks with more business outlets, high customer dependence, and good market reputation are usually the key points for the fund company to do fund sales. On the other hand, the bank has also established a "white list" for fund companies to sell on a commission basis. Only those medium and large fund companies with outstanding historical performance, good risk control management and good market influence can obtain important schedules of the bank for promotion. "Therefore, the large scale of custody of the bank usually means that the bank's ability to sell funds on a commission basis and market influence have been recognized by public offering."
9 banks
Fund trusteeship "trillion club"
From the overall data, ICBC ranks first with 3.04 trillion yuan, accounting for 15% of the market, among the current more than 20 trillion yuan public fund custody market, and is also the first custodian with a fund custody scale exceeding 3 trillion yuan; China Construction Bank is 2.84 trillion yuan, accounting for 14% of the market. There are more than 1000 funds under custody in the above two banks.
With the help of Tianhong Yu'ebao, which has a scale of 1.2 trillion yuan, CITIC Bank Although there are only 208 trust funds, the total trust scale has reached 2.03 trillion yuan, accounting for about 10% of the market, ranking third.
The fund custody scale of Bank of China, Bank of Communications and Industrial Bank exceeded 15000 yuan, ranking fourth to sixth respectively. China Merchants Bank, Agricultural Bank of China and Shanghai Pudong Development Bank also joined the "trillion club" of fund custody scale.
In the recently disclosed annual reports of listed companies, each bank also revealed the highlights of its custody business, and took the fund custody business as the focus of expansion.
ICBC disclosed that last year, ICBC actively expanded hot areas and emerging markets, steadily promoted the construction of smart custody banks, and further stabilized its leading position in the industry. By the end of 2020, the total scale of ICBC's custody business had reached 19.6 trillion yuan; Driven by the growth of mutual fund custody scale, ICBC's asset custody business revenue increased by 541 million yuan to 7.545 billion yuan.
CCB said that it would strengthen the coordination and linkage of the group, cultivate the brand of "CCB Smart Trusteeship", increase the digital construction of trusteeship, and enhance the global service capability. By the end of 2020, the bank's custody scale had reached 15.25 trillion yuan, an increase of 2.13 trillion yuan over the previous year, or 16.19%; The revenue from custody business was 5.533 billion yuan, an increase of 841 million yuan or 17.92% over the previous year.
Citic Bank said that it adheres to the concept of "value trusteeship", actively integrates internal and external resources, focuses on deepening customer management, deepens the main battlefield of trusteeship, gives play to the platform advantages of trusteeship business, and provides asset management institutions and corporate customers with basic custody services and value-added services from the capital end, product operation end, and investment end. Last year, the trust business of CITIC Bank achieved a cumulative revenue of 3.365 billion yuan; The scale of custody exceeded 10 trillion yuan for the first time, reaching 10.33 trillion yuan, an increase of 1.2 trillion yuan over the end of last year; The scale of mutual fund custody remains the third in the industry and the first in joint-stock banks.
The Bank of China said that it will continue to improve the value creation ability and overall service ability of custody business with the main line of serving economic and social development. By the end of 2020, the Group's assets under custody had reached 11.79 trillion yuan, and the market share of custody business income had increased. The growth rate of mutual fund custody scale and income growth rate rank first among major peers, and the number and scale of newly issued mutual fund custody remain the first echelon in the industry.
Although the scale of mutual fund custody ranks seventh in the industry, the custody business of China Merchants Bank has made rapid progress. According to the data of the Banking Association, by the end of 2020, the balance of assets under custody of China Merchants Bank had reached 16.05 trillion yuan, an increase of 21.32% over the end of the previous year. The scale of custody remained the second largest in the domestic custody industry, with the increase ranking first in the industry; By the end of 2020, CMB had achieved a revenue of 4.215 billion yuan from custody fees, up 16.92% year on year, ranking fourth in terms of revenue scale. In terms of fund custody business, China Merchants Bank managed 184 newly issued public funds in 2020, with a year-on-year growth of 49.59%; The trusteeship scale totaled 418.2 billion yuan, with a year-on-year increase of 140.48%; The number of newly issued public funds under custody and the scale of custody rank first in the industry, with a very strong growth momentum.
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