20230711_太平洋证券_金融行业：降费、降佣对基金和券商行业的长期影响_24页.pdf

2023-7-11 S1190523030003 12323XVAZuNmRnOmNqOsRsPoRmNbRdN8OnPpPsQnOfQoOpQfQqRmO6MqRmRxNtPmMvPmQsM7 8 1 1.2%0.2%2 2024 1.2%0.2%3 4 2023 5 2024 6 7 1.2%1 Wind 0501001502002503003504000.50 1.50 1.00 0.80 0.15%0.50 280 339 2021.50 91 136 1931.00 59 96 310.80 27 13 140.15 19 34 251.20 10 0 120.60 6 18 50.45 5 9 90.70 3 1 10.75 1 1 40.30 1 8 20.20 1 8 11.35 0 0 11.10 0 1 20.25 0 3 0 2 Wind 12324 71%1.5%2022 1.27%1.32%10%Wind 2022 1458 307 221 1.2%0.2%93.8%86.9%100 15 1%7 8 17 2023 7 10 1.2%1.2%0.2%0.2%3 1.6%1.2%1.1%0.8%0.6%-1.2%0.40%0.50%0.60%0.70%0.80%0.90%1.00%1.10%1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 5 Wind 6 Wind 12324 7.5 2.5 30%-40%7.587.647.857.867.897.928.148.197.57.67.77.87.988.18.28.32022A 2022H 2021A 2021H 2020A 2020H 2019A 2019H WIND 9 187.9693.40219.2893.23135.2156.8175.3637.040501001502002502022A 2022H 2021A 2021H 2020A 2020H 2019A 2019H 10 WIND 2023 6 26.84 2022 187 2018 100 500 98 5800 35%2030 27 WIND 7()8%WIND 050000100000150000200000250000300000202320222021202020192018201720162015201420132012201120102009200820072006-50050100150200250300165,760.29101,432.35115,661.11114,740.3486,759.9774,986.0084,834.7773,293.2667,861.6082,999.2877,442.94020000400006000080000100000120000140000160000180000中信证券 中信建投 长江证券 广发证券 招商证券 国泰君安 海通证券 东方证券 华泰证券 兴业证券 中泰证券2022A 2022H 2021A 2021H 2020A 2020H 2019A 2019H 2022 187.96 CR10 88.12 46.88%2021 219.28 CR10 104.58 47.69%Wind 2022 2022 38.74%12 2022 WIND 20%2020 ETF ETF Contrafund 2021 2018 2 13 Wind 12324 14 0.0010.0020.0030.0040.0050.0060.0070.0005,00010,00015,00020,0002023 2021 2019 2017 2015 2013 2011 2009 2007 2005 2003 2001%695.29%1415.19%863.27%704.50%0.00%200.00%400.00%600.00%800.00%1000.00%1200.00%1400.00%1600.00%2023 2022 2021 2020 15 WIND WIND 30请务必阅读正文之后的免责条款部分 守正 出奇 宁静 致远 21 请务必阅读正文之后的免责条款部分 守正 出奇 宁静 致远 22 13910596682 18519233712 13269957563 13522888135 18811735399 13564966111 17305260759 17267491601 18846036786 18616165006 13122990430 021-58502206 13524364874 18565481133 13554982912 13527560506 13728975701 30请务必阅读正文之后的免责条款部分 守正 出奇 宁静 致远 6 300 5%6 300 5%5%6 300 5%6 300 15%6 300 5%15%6 300-5%5%6 300-5%-15%91530000757165982D 95397 23