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ICBC Issues “AI Index” to Facilitate Easy Wealth Management for Customers

Recently, ICBC has officially issued the “AI Index”, which tracks and simulates indexes by portfolio investment, to help investors obtain returns that approximates to the index. Individual customers can simply complete their investment in CSI ICBC Wealth Fund Index by logging in ICBC Mobile banking app, entering “AI Investment” in the home page, choosing “ICBC Equity & Hybrid Fund” or ”ICBC Dynamic Allocation” under the “AI Index”, and clicking “investment”.

As is explained by an ICBC official, the “AI Index” is developed on the basis of the “AI investment” platform of the Bank and supported by the “CSI ICBC Wealth Fund Index” jointly compiled by ICBC and CSI. Currently, the “CSI ICBC Wealth Fund Index” comprises “ICBC Equity & Hybrid Fund Index (code: 930994)” and “ICBC Dynamic Allocation Fund Index (code: 930995)”. The former mainly seeks relative returns. Based on the judgment of both market styles and industrial preferences, certain allocations among different styles and industries will be conducted while, on the premise of cutting risk exposure, striving to select the equity and hybrid fund that are most aligned with market style in the next stage. The dynamic allocation strategy for large category of assets has been added to the “ICBC Dynamic Allocation Fund Index” from the very beginning and it pursues absolute return through the proportional allocation among equity & hybrid fund, bond fund and money market fund.

According to introduction, individual investors currently encounter major “difficulties” in choosing funds and finding investment opportunity, which directly affects the investment results. The issuance of “AI Index” will, to a certain extent, alleviates the problems encountered by customers in fund investment. In terms of choosing investment fund, customers with high risk appetite can invest in “ICBC Equity & Hybrid Fund” under the “AI index”, while customers with moderate or low risk appetite can make a steady investment in “ICBC Dynamic Allocation”. In terms of investment timing, ICBC’s specialized investment team will adjust the component fund allocation scheme in a timely manner to adapt to the latest market trend and help customers avoid investment risks, promote investment efficiency as well as form the good habit of long-term investment.

Based on data, since its launch in July 2017, the “ICBC Equity & Hybrid Fund” has witnessed an accumulated increase by 4.18%, with yields surpassing the SSE Composite Index, CSI 300 index, Equity Fund Index and Hybrid Fund Index by 15.59, 9.35, 9.40 and 2.83 percentage points, respectively, ranking among the top 1/3 of the 1,929 equity funds and hybrid funds comparable in the entire market over the same period. Meanwhile, “ICBC Dynamic Allocation” rose by 2.69%, effectively fending off equity investment risks and fulfilling the goal of absolute return.