<section style="text-align: center"><a target="_blank" href="http://mp.weixin.qq.com/s?__biz=MjM5MjY4MjU0MQ==&mid=2447790313&idx=2&sn=55e0cf403a3327c58f7dfcc77ea888c8&chksm=b2b077ab85c7febda44a18349455223c46e61a6d8082f6f51e7dcbb9a81e93eba23d8e4d1845&scene=21#wechat_redirect" textvalue="你已选中了添加链接的内容" tab="innerlink"><span ><img src="/api/reviews/image?src=https%3A%2F%2Fmmbiz.qpic.cn%2Fmmbiz_jpg%2FO95eeDepqTOWLCQibfjBcbq9HeSUBsXdRjiaN4nhNdPjm7nZVwmapQHB5dCaRUr8hDI1OLz7Waa6Jm2hIzjV9l3Q%2F640%3Fwx_fmt%3Djpeg" data-origin="https://mmbiz.qpic.cn/mmbiz_jpg/O95eeDepqTOWLCQibfjBcbq9HeSUBsXdRjiaN4nhNdPjm7nZVwmapQHB5dCaRUr8hDI1OLz7Waa6Jm2hIzjV9l3Q/640?wx_fmt=jpeg" alt="懂保爷测评配图" loading="lazy" /></span></a></section><section style="text-align: center"><span style="color: rgb(136, 136, 136)">点上方图片看看【封面图的故事】</span><span style="text-align: justify"></span></section><section ><br /></section><section ><span >学海无涯，一期一会。</span></section><section ><span ><br /></span></section><section ><span >今天保姑聊聊银行理财里的一大“陷阱”：业绩比较基准。<span ></span></span></section><section ><span ><br /></span></section><section><mpvideosnap></mpvideosnap></section><section style="color: rgb(34, 34, 34); text-align: center"><span style="color: rgb(136, 136, 136)">不方便看视频的朋友可以看文字版</span><span style="color: rgb(136, 136, 136)">👇</span><br /></section><section style="color: rgb(34, 34, 34); text-align: center"><br /></section><section style="color: rgb(34, 34, 34); text-align: center"><span >--文字版--</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">以前“<strong>刚兑时</strong>代”，买理财很简单，看“预期收益率”就行。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">现在银行理财进入“<strong>净值化时代</strong>”，“业绩比较基准”取代了原来的“预期收益率”成为投资参考的主要因素之一。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">业绩比较基准是指这个理财产品的管理人，根据该产品投资策略，投资范围，投资限制，所投各类资产的收益水平、流动性特征、信用风险等等因素在测算时点下得出的一个<strong>预估</strong>的投资表现，</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><strong><span style="color: rgb(51, 51, 51); text-align: justify">不代表产品管理人对投资者的收益承诺或保障。</span></strong><span style="color: rgb(51, 51, 51); text-align: justify"></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">同时，业绩比较基准是当下时点的测算结果，由于市场存在不可预测性，因此该指标不能代表未来实际收益。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">所以大家千万不要把这个指标作为产品的收益依据，更不可作为预期收益率来考量。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><strong><span style="color: rgb(51, 51, 51); text-align: justify">业绩比较基准和预期收益率有本质区别。</span></strong><span style="color: rgb(51, 51, 51); text-align: justify"></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">前者体现的是产品性质、投资策略、市场情况等基本情况，我觉得业绩比较基准想表达的是产品的基本面；</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">而后者往往隐含刚兑性质，是个固定预期值，目前这个概念基本上已经退出银行理财市场了。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">我们很难再看到有预期收益率的产品了。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">换句话说，<strong>业绩比较基准可能会与实际收益存在很大偏差</strong>，所以两个概念完全不同，大家千万不要混淆。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">很多人问我，业绩比较基准能代表过往历史业绩吗？</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">完全不能。两个指标代表完全不同的意义！</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">过往历史业绩表示过去的投资成绩，比如过去1年/3年收益率、成立以来收益率等等，是实际产生过的业绩。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">而业绩比较基准，还是那句话，是产品管理人根据产品投资范围、策略等多种因素，经过严谨测算得出的参考指标，它主要表达的是产品基本面。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">跟历史业绩也毫无关系。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">所以我们现在所看到的银行理财产品的业绩比较基准<strong>往往偏</strong><strong>高</strong>，</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">有的告诉你说4%，有的告诉你说5%，甚至有的还说6%，但是最后你买回去之后过了一段时间就会发现，实际利率根本没有这么高。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">我们以前买理财产品，内心对预期收益率太过依赖总觉得买到多少收益的产品就是多少收益。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">这一点以后不能用在银行理财产品上了。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">当前，我总结所有绝对安全保本保收益的理财资产，无非就是三种：</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><strong><span style="color: rgb(51, 51, 51); text-align: justify">50万以内的银行存款</span></strong><span style="color: rgb(51, 51, 51); text-align: justify">，因为有50万存款保险兜底，所以绝对安全，但是收益很低，3年大额存单利率是3.35%左右，单利；</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="text-align: center"><img src="/api/reviews/image?src=https%3A%2F%2Fmmbiz.qpic.cn%2Fmmbiz_png%2FO95eeDepqTPqS7pPlpsPEwicBFeCCzfGsNibrAKgSdBcJCUcKYBOyP1c3OjRicXicMURDNXLezG7Y6ziao39tpmlVJQ%2F640%3Fwx_fmt%3Dpng" data-origin="https://mmbiz.qpic.cn/mmbiz_png/O95eeDepqTPqS7pPlpsPEwicBFeCCzfGsNibrAKgSdBcJCUcKYBOyP1c3OjRicXicMURDNXLezG7Y6ziao39tpmlVJQ/640?wx_fmt=png" alt="懂保爷测评配图" loading="lazy" /></section><section style="color: rgb(34, 34, 34); text-align: left"><br /></section><section style="color: rgb(34, 34, 34); text-align: left"><strong><span style="color: rgb(51, 51, 51); text-align: justify">第二种是国债</span></strong><span style="color: rgb(51, 51, 51); text-align: justify">，因为国家信用兜底，所以绝对安全， 10年期国债年化2.844%左右的单利；</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="text-align: center"><img src="/api/reviews/image?src=https%3A%2F%2Fmmbiz.qpic.cn%2Fmmbiz_png%2FO95eeDepqTPqS7pPlpsPEwicBFeCCzfGsriaWKTQSNwcaOLwf1IbhzIeAWb5PR5mmPwtle5qYNicM9jIkia3YvbrJA%2F640%3Fwx_fmt%3Dpng" data-origin="https://mmbiz.qpic.cn/mmbiz_png/O95eeDepqTPqS7pPlpsPEwicBFeCCzfGsriaWKTQSNwcaOLwf1IbhzIeAWb5PR5mmPwtle5qYNicM9jIkia3YvbrJA/640?wx_fmt=png" alt="懂保爷测评配图" loading="lazy" /></section><section style="color: rgb(34, 34, 34); text-align: left"><br /></section><section style="color: rgb(34, 34, 34); text-align: left"><strong><span style="color: rgb(51, 51, 51); text-align: justify">第三种是理财型人身保险，增额终身寿险和养老年金险</span></strong><span style="color: rgb(51, 51, 51); text-align: justify">。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">因为人身保险保障期限与生命等长，所以长期锁定的利率更高，而且是自动复利计息。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="text-align: center"><img src="/api/reviews/image?src=https%3A%2F%2Fmmbiz.qpic.cn%2Fmmbiz_png%2FO95eeDepqTPqS7pPlpsPEwicBFeCCzfGssYL909YoXYlO9O3eCN8wn4hZV4tFU5yaf5C6NlSpXSpoBibtssBvLHg%2F640%3Fwx_fmt%3Dpng" data-origin="https://mmbiz.qpic.cn/mmbiz_png/O95eeDepqTPqS7pPlpsPEwicBFeCCzfGssYL909YoXYlO9O3eCN8wn4hZV4tFU5yaf5C6NlSpXSpoBibtssBvLHg/640?wx_fmt=png" alt="懂保爷测评配图" loading="lazy" /></section><section style="color: rgb(34, 34, 34); text-align: left"><br /></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">增额寿目前都是终身锁定3.5%的复利，10年时间，折合银行存款单利3.8%，20年时间，折合银行存款单利4.5%，30年时间，折合银行存单单利5.5%。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">这就是复利，时间越长，收益越高。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="text-align: center"><img src="/api/reviews/image?src=https%3A%2F%2Fmmbiz.qpic.cn%2Fmmbiz_png%2FO95eeDepqTPqS7pPlpsPEwicBFeCCzfGsVQ5bKUuRgRQVd3L5KDv3MxiaImwYhTPibzicW01tCyz6bkFftEG1ZrXDg%2F640%3Fwx_fmt%3Dpng" data-origin="https://mmbiz.qpic.cn/mmbiz_png/O95eeDepqTPqS7pPlpsPEwicBFeCCzfGsVQ5bKUuRgRQVd3L5KDv3MxiaImwYhTPibzicW01tCyz6bkFftEG1ZrXDg/640?wx_fmt=png" alt="懂保爷测评配图" loading="lazy" /></section><section style="color: rgb(34, 34, 34); text-align: left"><br /></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">养老年金险的收益和寿命成正比，一般活至80岁生存总收益是复利3.5%左右，活至90岁生存总收益是复利4%左右。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="text-align: center"><img src="/api/reviews/image?src=https%3A%2F%2Fmmbiz.qpic.cn%2Fmmbiz_png%2FO95eeDepqTPqS7pPlpsPEwicBFeCCzfGsSexppZgPYoyx5haeNsFDkxqzV7ic6nkaXySyuSL6TM958JibADIeEWcg%2F640%3Fwx_fmt%3Dpng" data-origin="https://mmbiz.qpic.cn/mmbiz_png/O95eeDepqTPqS7pPlpsPEwicBFeCCzfGsSexppZgPYoyx5haeNsFDkxqzV7ic6nkaXySyuSL6TM958JibADIeEWcg/640?wx_fmt=png" alt="懂保爷测评配图" loading="lazy" /></section><section style="color: rgb(34, 34, 34); text-align: left"><br /></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">综合这些产品的基本面，我们普通家庭理财，在保证安全的情况下，</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">如果既要收益高，又想资金流动性好的话，</span><span style="color: rgb(51, 51, 51); text-align: justify">那就要</span><span style="color: rgb(51, 51, 51); text-align: justify">做</span><strong><span style="color: rgb(51, 51, 51); text-align: justify">多方面资产</span><span style="color: rgb(51, 51, 51); text-align: justify">组合</span></strong><span style="color: rgb(51, 51, 51); text-align: justify">。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><strong><span style="color: rgb(51, 51, 51); text-align: justify">长期资金放在收益较高的长期理财资产里面，增额寿险和养老年金险就是典型的长期理财资产，国债也算是长期理财资产；</span></strong></section><section style="color: rgb(34, 34, 34); text-align: left"><strong><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></strong></section><section style="color: rgb(34, 34, 34); text-align: left"><strong><span style="color: rgb(51, 51, 51); text-align: justify">短期可能要用的资金就放在短期理财资产里面，银行3年定期，3年期大额存单就是典型的短期理财资产。</span></strong><span style="color: rgb(51, 51, 51); text-align: justify"></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">如果还要更灵活，每天都可以随进随出的活钱理财，那就买买余额宝这种货币基金就可以了。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">在安全保本保收益的情况下，流动性长短结合，收益高低结合，就是综合利益最大化的家庭资产配置方式了。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify">我是保姑，我一直在专注研究适合所有人的安全理财，需要的时候可以找我，应该能给你一些建议。</span></section><section style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"></span></section><p style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></p><p style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></p><p style="color: rgb(34, 34, 34); text-align: center"><span ><strong ><span ><span >【<span >理财+养老+保险</span>】</span> 1对1咨询绿色通道</span></strong></span></p><p style="color: rgb(34, 34, 34); text-align: center"><span >直接识别下方二维码</span></p><p style="color: rgb(34, 34, 34); text-align: center"><img src="/api/reviews/image?src=https%3A%2F%2Fmmbiz.qpic.cn%2Fmmbiz_jpg%2FAa1Vn4VNXun3PB3sBCsPbXSqOflbzkJPTr4GlZqmmP611AJicrwvyXeRc5ApZLibWUMoB6QmbrcYm6HtrQzbfia6A%2F640%3Fwx_fmt%3Djpeg" data-origin="https://mmbiz.qpic.cn/mmbiz_jpg/Aa1Vn4VNXun3PB3sBCsPbXSqOflbzkJPTr4GlZqmmP611AJicrwvyXeRc5ApZLibWUMoB6QmbrcYm6HtrQzbfia6A/640?wx_fmt=jpeg" alt="懂保爷测评配图" loading="lazy" /></p><p style="color: rgb(34, 34, 34); text-align: center"><span >添加保姑团队专业咨询老师</span></p><p style="color: rgb(34, 34, 34); text-align: left"><span style="color: rgb(51, 51, 51); text-align: justify"><br /></span></p><p ><span ></span></p><section ><br /></section><section style="text-align: center"><span ><span >— </span><strong >END </strong><span >—</span></span></section><section ></mp-common-profile></section><section style="text-align: left"><img src="/api/reviews/image?src=https%3A%2F%2Fmmbiz.qpic.cn%2Fmmbiz_gif%2FAa1Vn4VNXulDSG3kLWEFl66JYfFHuibDsZwPP3g5romOwOBrEvLdFjc8VUrEoXpQflzzTumnt8dW6vKFReAyKnA%2F640%3Fwx_fmt%3Dgif" data-origin="https://mmbiz.qpic.cn/mmbiz_gif/Aa1Vn4VNXulDSG3kLWEFl66JYfFHuibDsZwPP3g5romOwOBrEvLdFjc8VUrEoXpQflzzTumnt8dW6vKFReAyKnA/640?wx_fmt=gif" alt="懂保爷测评配图" loading="lazy" /><span > <span style="color: rgb(136, 136, 136)">点击阅读原文，</span></span><span style="color: rgb(136, 136, 136)">查看</span><span style="color: rgb(33, 89, 103)">懂保爷严选【理财、养老、保障】产品汇总</span></section><section style="text-align: left"><section ><br /></section><section style="text-align: right"><section ><p style="text-align: center; color: rgb(63, 62, 63)"><span >如有帮助，帮忙点个<span style="color: rgb(33, 89, 103)"><strong >在看</strong></span></span><span style="color: rgb(0, 0, 0)">吧</span><span >，谢谢！</span></p></section></section></section>
