Stock and bond seesaw intensifies wealth management redemption? 11 wealth management companies reduced their scale by 640 billion yuan in a single month.

On October 17th, Jin Shi Data reported that the 'stock and bond seesaw' effect combined with seasonal factors at the end of the third quarter has put pressure on the bank wealth management market. According to data compiled by industry insiders, as of the end of September this year, the total size of outstanding products of 11 major bank wealth management companies (including ICBC Wealth Management, ABC Wealth Management, BOC Wealth Management, CCB Wealth Management, and Bank of Communications Wealth Management, which are 5 state-owned bank wealth management companies, as well as CMB Wealth Management, CITIC Wealth Management, CEB Wealth Management, CEB Wealth Management, SPDB Wealth Management, and Ping An Wealth Management, which are 6 joint-stock bank wealth management companies) was 18.97 trillion yuan, a decrease of about 640 billion yuan from the end of August.