“Fixed income +” wealth management products with steady value-added as a selling point are facing the test of fluctuations in net worth. Since this year, due to factors such as simultaneous phased adjustments in multi-asset prices and structural market changes, some “fixed income +” wealth management products have retreated, and the effectiveness of profit enhancement strategies and managers' ability to control risk have attracted attention. Over the past two years, in a low interest rate environment, “fixed income +” has become an important direction for financial institutions to expand revenue sources. However, the buffer space provided by bond coupons has narrowed, and fluctuations caused by assets such as stocks and convertible bonds have also become more prominent. A number of interviewees said that managers need to find a balance between profit enhancement and pullback control, and investors should also re-examine the risk of “+” in products and adjust earnings expectations reasonably.

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