Uncertain market conditions, Xingyin Wealth Management's "Fixed Income+" demonstrates strong resilience

What investment strategies support the resilience of fixed-income + products?

Recently, influenced by complex factors such as international geopolitical conflicts and liquidity expectations, the global financial markets have experienced significant turbulence and adjustments, with Asian markets in China, Japan, and South Korea, as well as markets in the UK and the US, generally under pressure.

The A-share market has seen a continuous decline for three weeks. As of the close on March 23, 2026, over 5,100 stocks in the market fell, with the Shanghai Composite Index barely holding above the 3,800 mark at the end. The Shenzhen Composite Index and ChiNext dropped by 3.76% and 3.49%, respectively, with only the coal and energy sectors performing actively. The Hong Kong stock market appeared to continue its correlation with the A-share market, with the Hang Seng Index also down 3.54%.

In overseas markets, major global stock indices also experienced considerable fluctuations. On March 23, major European stock indices opened lower, with the UK FTSE 100 index closing down, while the French CAC 40 index and the German DAX 30 index closed up. The three major US stock indices have all fallen since January, and on March 23, influenced by the “US-Iran negotiations,” the three indices collectively rose by over 1%.

As the aftershocks of the stock market turbulence linger, the bank wealth management market is undergoing a collective test. According to data from Nanfang Financial Wealth Management, as of March 23, 2026, there are a total of 43,703 wealth management products in existence (including different share classes), with the number of fixed-income products reaching 42,323, accounting for 96.84%. In terms of overall performance, RMB fixed-income products show a characteristic of “low growth, low drawdown,” with an average net value growth rate of 0.65% over the past three months, and the average maximum drawdown and average volatility at 0.07% and 0.36%, respectively, demonstrating the hedging properties of fixed-income products during stock market turbulence.

It is worth noting that among 32 wealth management subsidiaries, Xiyin Wealth Management has the highest number of RMB public fixed-income products, totaling 5,028. Remarkably, under the large management scale, Xiyin Wealth Management still demonstrates its strong balanced capabilities in terms of yield and defense. As of March 23, its fixed-income products had an average maximum drawdown and average volatility over the past three months of 0.05% and 0.29%, significantly lower than the industry average. Among them, the “fixed-income +” series of products stands out with its stable growth performance, becoming the core strategy for Xiyin Wealth Management to navigate turbulent markets.

The Xiyin Wealth Management “fixed-income +” series is based on macro-level research of major asset classes, seeking a balance between fixed income, equities, derivatives, and various domestic and foreign assets and investment strategies, striving for long-term stable appreciation of assets. The products include several series such as Fengli Lingdong, Fengli Yidong, and Fengli Xingdong.

The “Fengli Yidong” series is a mid-low wave “fixed-income +” product with a slight equity component, controlling the equity investment ratio around 2.5%. This series adheres to the investment philosophy of “structural balance and industry balance,” supplemented by arbitrage strategies, aiming to enhance returns while further improving volatility control. In the recent market fluctuations, as of March 19, the average net value growth rate of this series over the past three months was 0.65%, with an average maximum drawdown of 0.17%.

Among them, “Fengli Yidong 10M Holds 2A” is an excellent product from the “Yidong” series. As of March 18, the product’s net value growth rate over the past three months reached 0.71%, with a maximum drawdown of 0.16%. Since its establishment in June 2025, the product has maintained a steady growth trend; even in the recent volatile market context, it has achieved positive monthly returns, with a Sharpe ratio of 11.45 over the past three months, offering a high investment cost-performance ratio.

The “Fengli Lingdong” series is a fixed-income + equity balanced allocation + diversified strategy product. This series preferentially selects medium to high-grade credit bonds as the base, allocating no less than 90% in standardized bond assets, with a maximum equity position not exceeding 10%. The rich “+” assets and strategies help reduce product volatility. As of March 19, the average net value growth rate of this series over the past three months reached 0.73%, with the average maximum drawdown controlled at 0.24%.

The advanced selection product in the “Lingdong” series, “Fengli Lingdong 6M Holds 1A,” closely monitors the operational status and risk-return characteristics of stocks, bonds, and the money market, employing derivative tools at the tactical level to hedge risks in major asset allocations and enhance returns through various investment strategies. As of March 18, this product achieved a net value growth rate of 1.27% over the past three months, with the maximum drawdown kept under 1%.

The “Fengli Xingdong” series consists of structured products linked to stock indices and other targets, with a relatively high equity ratio, and the equity center ranging from 10% to 30%. As of March 19, this series has shown outstanding performance over the past three months, with an average net value growth rate of 1.44%, and successfully controlled the average maximum drawdown within 0.5%.

As of March 19, two products from the “Xingdong” series, “Fengli Xingdong Resource Advantage 3M Shortest Holding” and “Fengli Xingdong Smart Enjoy 3M Holds 7A,” both saw net value growth rates exceeding 1% over the past three months, reaching 1.54% and 1.37%, respectively.

“Fengli Xingdong Resource Advantage 3M Shortest Holding” focuses on industries and companies that have resource monopoly advantages, stable core competitiveness, or advantageous industry positions that may be undervalued. In investment operations, the product appropriately balances the allocation ratio of penetrating equity assets across various industries and growth stages, striving to achieve medium-to-long-term market outperformance and stable returns. “Fengli Xingdong Smart Enjoy 3M Holds 7A” is based on debt assets while configuring the CSI 1000 quantitative index enhancement strategy to select the best among stocks, aiming to further enhance returns on a stable base.

In addition, Xiyin Wealth Management’s “Fuli Xingcheng Fengyun One Month Holding Period 1 Mixed Wealth Management Product A” has also contributed to good performance. This product has maintained close attention to various aspects such as the switching of funds between stocks and bonds in major asset allocation, marginal price repair, financial regulatory implementation, and its effects, while cautiously responding to market changes. Since its establishment in November 2024, this product has consistently maintained a steady growth trend, with a maximum drawdown of only 0.1% since inception. As of March 19, the product’s net value growth rate over the past three months was 0.66%, with the maximum drawdown still maintaining a low level of 0.1%.

In summary, the market shocks caused by geopolitical conflicts are primarily dominated by emotionally driven short-term fluctuations. When panic spreads in the market, asset prices often deviate from their long-term intrinsic values. However, short-term fluctuations are a norm in financial markets, and value investing generally looks toward long-term cycles.

In the midst of severe market fluctuations, Xiyin Wealth Management has always regarded “strengthening the risk defense line” as an important task, making prudent decisions, closely tracking every risk exposure, striving to control drawdown risks while quickly capturing subsequent market recovery opportunities, and safeguarding assets.