资管新规下的银行公募基金产品配置研究——基于FOF/MOM模式的配置思路

The Fund Assets Allocation of Commercial Banks under the New Asset Management Rules——A Study Based on the Allocation Idea of FOF/MOM Model

近年来在优质资产匮乏的背景下,以商业银行为代表的机构客户积极寻找稳健的收益来源,公募基金凭借专业的投资研究能力和较强的产品设计能力获得青睐,公募市场迎来机构化时代。梳理商业银行配置基金产品配置的目的、特点,重点分析"资管新规"对银行资产配置产生的影响,并基于主动管理的产品设计思路,对商业银行公募基金配置提出建议。

Given the background of high-qualitied assets scarcity over recent years,institutional clientsrepresented by commercial banks have been positively seeking for stable source of income.Publicfunds,featuring speciality on investment research and capability on product design,have gainedgrowing preference.Therefore,an era of institution-dominated public funds market is launched.Thispaper sorts out the purposes and characteristics of fund investment allocation of commercial banks,analyses emphatically the potential effects of the new asset management rules on bank assets allocation,and offers advice on public funds allocation for commercial banks based on actively-managed productdesign idea