Debt market recovery plus deposit rate cuts, scale of 14 wealth management companies significantly increased in April.

After entering April across seasons, the overall performance of the bond market is relatively strong, coupled with a new round of deposit rate cuts by small and medium-sized banks, the scale of bank wealth management has increased significantly month-on-month, reaching a high level again. According to data from the top 14 wealth management companies in terms of management scale collected exclusively by reporters, as of the end of April this year, the total scale of the 14 bank wealth management companies was approximately 23.6 trillion yuan, an increase of nearly 1.9 trillion yuan from the end of March, and an increase of over 1 trillion yuan from the beginning of the year. The six state-owned bank wealth management companies were the main contributors to the increase in wealth management scale in April, with a total increase of about 1.1 trillion yuan in a single month, accounting for nearly 60%. In addition, the management scale of Huaxia Wealth Management has exceeded 900 billion yuan in April, and is expected to become the 14th trillion-level wealth management company. The warming of the bank wealth management scale in April is due to multiple factors resonating. In addition to the bond market recovery, a new round of "interest rate cut tide" by small and medium-sized banks has widened the interest rate differential between deposits and wealth management, leading to inflows of demand deposits into fixed-income and cash wealth management.