As time enters the disclosure window of the quarterly report, securities firmsJungleJackpotJamMore data surfaced.

In the first quarter of this year, the stock secondary market fluctuated sharply, while the bond market was bullish. In this context, the changes in the asset management industry will be concerned by the market. According to the data disclosed by the China Fund Industry Association on April 26, the scale of existing products of securities companies and their asset management subsidiaries as of the end of March is 5.JungleJackpotJam.35 trillion yuan, up slightly from 5.3 trillion yuan at the end of last year.

Among the top 20 brokerage firms in the industry, there are 4 securities companies whose private equity management products are more than 10 billion yuan smaller than at the end of last year in the first quarter of this year. Among them, CITIC Securities (600030) asset management "shrunk" 47.187 billion yuan. Accordingly, there are three brokerages with an average monthly growth of tens of billions of dollars in asset management.

Four have shrunk by more than 10 billion, while three have grown by more than 10 billion

The stock secondary market experienced ups and downs in the first quarter of this year, causing investors to worry about liquidity at the end of January, and then the main index rebounded in February, singing all the way as the national team funds entered. Since March, Prev has continued to fluctuate around 3000 points. In the bond market, due to the combined effect of the cut in reserve requirements and interest rates and the conditions of market supply and demand, the bond market continued a bull market in the first quarter and fluctuated to a certain extent after March.

As the China Fund Industry Association released data on the monthly average scale of each asset management business in the first quarter of this year on April 26, the "transcript" of the asset management scale of the top 20 securities firms in the industry was released, reflecting the changes in the industry to a certain extent.

According to the statistics of Chinese reporters of securities firms, the average monthly size of private equity management products of the top 20 securities firms totaled 3.86 trillion yuan, a decrease of about 66.767 billion yuan or 1.70% compared with the fourth quarter of last year, indicating that the asset management of securities firms generally overcome the impact of market fluctuations in the first quarter.

Data show that among the 20 brokerages, the number of "decline" and "growth" basically accounted for half of each, with 11 and 9 respectively.

Specifically, Citic Securities Asset Management's average monthly size of private equity management products "shrunk" by 47.187 billion yuan to 700.696 billion yuan in the first quarter of this year, the largest in the industry, down 6.31% from the fourth quarter of last year. Whether the average monthly size of private equity management of CITIC Securities will fall below 700 billion yuan in the second quarter is worthy of continuous attention.

In addition to CITIC Securities Asset Management, Shenwan Hongyuan (000166), Ping an Securities, and Guangfa Securities (000776) shrank more than 10 billion yuan in the first quarter. The average monthly scale of private equity management products of these three securities firms decreased by 25.89 billion yuan, 17.286 billion yuan and 17.056 billion yuan respectively compared with the fourth quarter of 2023. Among them, the month-on-month decline of Shenwan Hongyuan Capital Management and Ping an Securities was 15.8% and 11.56%, respectively.

Accordingly, the average monthly scale of private equity management products of three securities firms increased by more than 10 billion yuan in the first quarter compared with the fourth quarter of last year, namely China Merchants Securities (600999), Credit Asset Management, and Guoxin Securities (002736), with an increase of 22.843 billion yuan, 16.134 billion yuan and 12.894 billion yuan respectively. Among them, the two brokerages in Shenzhen have a large month-on-month growth rate, showing double-digit growth.

Although the average monthly size of private equity management products of the top 20 brokerages in the industry in the first quarter of this year is not much lower than that in the fourth quarter of last year, the decline in scale is very obvious from the perspective of the same period last year.

The average monthly size of the top 20 private equity assets in the first quarter of last year was 4.47 trillion yuan, according to the China Fund Industry Association. This means that the figure for the first quarter of this year fell by more than 600 billion yuan from a year earlier, down 13.47 per cent from a year earlier.

Of the top 19 comparable brokerages in the first quarter of this year, 12 declined and 7 increased compared with the same period last year. Among them, the monthly scale of Sino-Thai Securities Asset Management, Shenwan Hongyuan Asset Management, State Capital Management and China International Capital Corporation fell by more than 30% year-on-year in the first quarter of this year, while Guoxin Securities increased by more than 40% year-on-year.

The survival scale of fixed income falls below 9 trillion yuan.

On the same day, the China Fund Industry Association also issued a monthly report on the record of private equity management products of securities and futures institutions in March. Judging from the overall industry situation of private equity management, by the end of March 2024, the scale of private equity management business of securities and futures institutions totaled 12.07 trillion yuan (excluding social security funds and enterprise annuities), down slightly from 12.41 trillion yuan at the end of 2023 and 10.99 percent from 13.56 trillion yuan at the end of March 2023.

In terms of investment types, as of the end of March this year, the survival scale of fixed income products fell below 9 trillion yuan to 8.82 trillion yuan, down 3.67 percent from the end of last year. It is understood that fixed income private equity management products were more than 10 trillion yuan at the beginning of last year, and the existing scale of fixed income category was still above 9.5 trillion yuan until the end of the third quarter of last year.

The survival scale of equity products ranked second, with 1.89 trillion yuan as of the end of March this year, an increase of 1.26% over the end of last year. The scale of the mixed category was 1.27 trillion yuan as of the end of March this year, down 1.8 per cent from the same period last year. Futures and derivatives were the smallest, at 89.159 billion yuan, down 4.10% from the same period last year.

In terms of new filings, the private equity management industry added a total of 2054 products in the first quarter of this year, down 13.81 percent from 2383 in the fourth quarter of last year. The scale of new private equity management products set up in the first quarter of this year was 129.591 billion yuan, down 7.57 percent from 140.211 billion yuan in the fourth quarter of last year.

In terms of the newly established product types, fixed income products are still the "highlight". A total of 1265 new records were added in the first quarter of this year, with a total set-up scale of 105.746 billion yuan, accounting for more than 80%. The new filing scale of mixed products ranks second, with 578 new ones set up in the first quarter of this year, totaling 15.817 billion yuan.

This article was first posted on the official account of Wechat: brokerage China. The content of the article belongs to the author's personal point of view and does not represent the position of Hexun. Investors operate accordingly, at their own risk.