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CN113962801B - Asset allocation method, system and device - Google Patents

Asset allocation method, system and device Download PDF

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CN113962801B
CN113962801B CN202111261126.0A CN202111261126A CN113962801B CN 113962801 B CN113962801 B CN 113962801B CN 202111261126 A CN202111261126 A CN 202111261126A CN 113962801 B CN113962801 B CN 113962801B
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CN113962801A (en
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杨爽
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CCB Finetech Co Ltd
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Abstract

本申请公开了一种资产配置方法、系统及装置，涉及金融数据挖掘管理技术领域。为待进行资产配置的用户创建至少两个虚拟账户，所述至少两个虚拟账户与所述用户的实体账户管理，所述至少两个虚拟账户中不同的虚拟账户对应不同的投资需求；将所述实体账户的资金配置给所述至少两个虚拟账户，所述至少两个虚拟账户的资金金额的总和不大于所述实体账户的资金总额；根据所述用户的投资风险评估结果，确定所述至少两个虚拟账户各自对应的风险承受度范围，根据候选资产投资组合的波动率和收益率，以及所述至少两个虚拟账户各自对应的风险承受度范围，确定所述至少两个虚拟账户各自的资产投资组合，所述资产投资组合包括至少一类资产以及每类资产的占比。

The present application discloses an asset allocation method, system and device, which relates to the technical field of financial data mining and management. At least two virtual accounts are created for a user to be asset-allocated, and the at least two virtual accounts are managed with the user's physical account, and different virtual accounts in the at least two virtual accounts correspond to different investment needs; the funds of the physical account are allocated to the at least two virtual accounts, and the sum of the fund amounts of the at least two virtual accounts is not greater than the total fund amount of the physical account; according to the investment risk assessment result of the user, the risk tolerance range corresponding to each of the at least two virtual accounts is determined, and according to the volatility and rate of return of the candidate asset investment portfolio and the risk tolerance range corresponding to each of the at least two virtual accounts, the asset investment portfolios of the at least two virtual accounts are determined, and the asset investment portfolios include at least one type of asset and the proportion of each type of asset.

Description

Asset configuration method, system and device
Technical Field
The present application relates to the field of financial data mining management technologies, and in particular, to a method, a system, and an apparatus for asset allocation.
Background
Asset allocation refers to the allocation of investment funds between different asset classes according to investment requirements, typically the allocation of assets between low risk, low-income securities and high risk, high-income securities.
Different types of asset combinations can generate different benefits and have different risks, and the investment requirements (such as investment purposes and expected benefits) and the risk bearing degrees of different users are different, so that how to reasonably configure the assets according to the investment requirements and the risk bearing degrees of different users is a technical problem to be solved at present.
Disclosure of Invention
The embodiment of the application provides an asset configuration method, an asset configuration system and an asset configuration device, which are used for carrying out asset configuration according to the risk bearing degree and the investment requirement of a user.
According to a first aspect, an asset configuration method is provided, the asset configuration method comprises the steps of creating at least two virtual accounts for a user to be subjected to asset configuration, managing the at least two virtual accounts with entity accounts of the user, enabling different virtual accounts in the at least two virtual accounts to correspond to different investment demands, configuring funds of the entity accounts to the at least two virtual accounts, enabling sum of funds of the at least two virtual accounts to be not larger than sum of funds of the entity accounts, determining risk tolerance ranges corresponding to the at least two virtual accounts according to investment risk assessment results of the user, enabling risk tolerance ranges corresponding to different virtual accounts in the at least two virtual accounts to be different, and determining asset investment combinations of the at least two virtual accounts according to fluctuation rate and income rate of candidate asset investment combinations and the risk tolerance ranges corresponding to the at least two virtual accounts, wherein the asset investment combinations comprise at least one type of asset and each type of asset.
Optionally, the determining the asset portfolio of each of the at least two virtual accounts according to the volatility and the return of the candidate asset portfolio and the risk tolerance range of each of the at least two virtual accounts comprises, for each of the at least two virtual accounts, performing the step of assigning the candidate asset portfolio with the volatility matching the risk tolerance range corresponding to the virtual account.
Optionally, the allocation of the candidate asset portfolios with the fluctuation rate matching the risk tolerance range corresponding to the virtual account includes allocating the optimal candidate asset portfolio of the candidate asset portfolios to the same virtual account according to the fluctuation rate and/or the expected yield of the candidate asset portfolio if the fluctuation rate of the candidate asset portfolios matches the risk tolerance range of the same virtual account.
Optionally, the optimal candidate portfolio is a candidate portfolio with the lowest volatility among the plurality of candidate portfolios, or the optimal candidate portfolio is a candidate portfolio with the highest expected return among the plurality of candidate portfolios.
Optionally, before determining the respective asset portfolio of the at least two virtual accounts according to the fluctuation rate and the yield of the candidate asset portfolio and the risk tolerance ranges corresponding to the respective at least two virtual accounts, determining the average yield of various investment assets according to the historical average yield of various investment products, wherein each type of investment asset comprises at least one investment product, determining the expected yield of various candidate asset portfolios according to the average yield of various investment assets, wherein each candidate asset portfolio comprises at least one type of investment asset, and determining the fluctuation rate of each candidate asset portfolio based on a mean variance model.
Optionally, the average yield of the first type of investment assets in the various types of investment assets satisfies the following formula, wherein the first type of investment assets is any type of investment asset in the various types of investment assets:
wherein E (r) is the average rate of return of the first type of investment asset, r(s) is the historical average rate of return of the s-th investment product in the first type of investment asset, and n is the number of investment products contained in the first type of investment asset.
Optionally, the expected rate of return corresponding to a first candidate portfolio of the candidate portfolios satisfies the following formula, wherein the first candidate portfolio is any one of the candidate portfolios:
wherein E (R p) is the expected return rate corresponding to the first candidate portfolio, u i is the average return rate of the i-th type of investment assets in the first candidate portfolio, and w i is the proportion of the i-th type of investment assets in the first candidate portfolio.
Optionally, the volatility corresponding to a first candidate portfolio of the candidate portfolios meets the following formula, wherein the first candidate portfolio is any one of the candidate portfolios:
Wherein σ p is the volatility corresponding to the first candidate portfolio, w i is the proportion of the i-th type of investment assets in the first candidate portfolio, w j is the proportion of the j-th type of investment assets in the first candidate portfolio, and Cov (R i,Rj) is the covariance between the i-th type of assets and the j-th type of assets.
Optionally, determining the risk tolerance ranges corresponding to the at least two virtual accounts according to the investment risk assessment result of the user includes obtaining a risk tolerance level of the user according to the investment risk assessment result of the user, and obtaining the risk tolerance ranges corresponding to the at least two virtual accounts corresponding to the risk tolerance level according to the risk tolerance level of the user.
Optionally, the method further comprises the steps of respectively determining asset benefits of the at least two virtual accounts, respectively evaluating asset configuration effects of the at least two virtual accounts according to the asset benefits of the at least two virtual accounts, and determining the sum of the asset benefits of the at least two virtual accounts according to the asset benefits of the at least two virtual accounts.
Optionally, the at least two virtual accounts comprise a low craving account, a medium craving account and a high craving account according to the corresponding risk bearing degree of different investment demands from low to high.
In a second aspect, an asset configuration system is provided, which comprises a virtual account creation module, a fund distribution module and an asset configuration module, wherein the virtual account creation module is used for creating at least two virtual accounts for a user to be subjected to asset configuration, the at least two virtual accounts are managed with entity accounts of the user, different virtual accounts in the at least two virtual accounts correspond to different investment demands, the fund distribution module is used for configuring funds of the entity accounts to the at least two virtual accounts, the sum of the fund amounts of the at least two virtual accounts is not greater than the total fund amount of the entity accounts, the asset configuration module is used for determining respective risk tolerance ranges of the at least two virtual accounts according to investment risk assessment results of the user, the risk tolerance ranges corresponding to different virtual accounts in the at least two virtual accounts are different, and the asset portfolio corresponding to the at least two virtual accounts is determined according to a candidate asset portfolio fluctuation rate and a benefit rate and the respective risk tolerance ranges of the at least two virtual accounts, and comprises at least one type of asset and each type of proportion of asset.
Optionally, the asset configuration module is specifically configured to, for each of the at least two virtual accounts, perform the step of allocating a candidate asset portfolio with a volatility matching a risk tolerance range corresponding to the virtual account.
Optionally, the asset allocation module is specifically configured to allocate the optimal candidate asset portfolio of the plurality of candidate asset portfolios to the same virtual account according to the volatility and/or expected return rate of the plurality of candidate asset portfolios if the volatility of the plurality of candidate asset portfolios matches the risk tolerance range of the same virtual account.
Optionally, the optimal candidate portfolio is a candidate portfolio with the lowest volatility among the plurality of candidate portfolios, or the optimal candidate portfolio is a candidate portfolio with the highest expected return among the plurality of candidate portfolios.
Optionally, the asset allocation module is further configured to determine an average rate of return of each type of investment asset according to the historical average rate of return of each investment product, wherein each type of investment asset comprises at least one investment product, determine an expected rate of return of each candidate asset portfolio according to the average rate of return of each type of investment asset, wherein each candidate asset portfolio comprises at least one type of investment asset, and determine a volatility of each candidate asset portfolio based on a mean variance model.
Optionally, the average yield of the first type of investment assets in the various types of investment assets satisfies the following formula, wherein the first type of investment assets is any type of investment asset in the various types of investment assets:
wherein E (r) is the average rate of return of the first type of investment asset, r(s) is the historical average rate of return of the s-th investment product in the first type of investment asset, and n is the number of investment products contained in the first type of investment asset.
Optionally, the expected rate of return corresponding to a first candidate portfolio of the candidate portfolios satisfies the following formula, wherein the first candidate portfolio is any one of the candidate portfolios:
wherein E (R p) is the expected return rate corresponding to the first candidate portfolio, u i is the average return rate of the i-th type of investment assets in the first candidate portfolio, and w i is the proportion of the i-th type of investment assets in the first candidate portfolio.
Optionally, the volatility corresponding to a first candidate portfolio of the candidate portfolios meets the following formula, wherein the first candidate portfolio is any one of the candidate portfolios:
Wherein σ p is the volatility corresponding to the first candidate portfolio, w i is the proportion of the i-th type of investment assets in the first candidate portfolio, w j is the proportion of the j-th type of investment assets in the first candidate portfolio, and Cov (R i,Ri) is the covariance between the i-th type of assets and the j-th type of assets.
Optionally, the asset configuration module is specifically configured to obtain a risk tolerance level of the user according to an investment risk assessment result of the user, and obtain a risk tolerance range corresponding to each of the at least two virtual accounts corresponding to the risk tolerance level according to the risk tolerance level of the user.
Optionally, the system further comprises a profit statistics module, wherein the profit statistics module is used for respectively determining asset profits of the at least two virtual accounts, respectively evaluating asset configuration effects of the at least two virtual accounts according to the asset profits of the at least two virtual accounts, and determining the sum of the asset profits of the at least two virtual accounts according to the asset profits of the at least two virtual accounts.
Optionally, the at least two virtual accounts comprise a low craving account, a medium craving account and a high craving account according to the corresponding risk bearing degree of different investment demands from low to high.
In a third aspect, there is provided a communications apparatus comprising a processor, a memory, the memory storing computer instructions, the processor configured to read the computer instructions and perform the method of the first aspect.
In a fourth aspect, there is provided a computer readable storage medium storing computer executable instructions for causing a computer to perform the method of the first aspect.
In a fifth aspect, there is provided a computer program product which, when invoked by a computer, causes the computer to perform the method of the first aspect.
In the embodiment of the application, as at least two virtual accounts are created for the user to be subjected to asset configuration, funds of the entity account are configured to the at least two virtual accounts, the respective corresponding risk tolerance ranges of the at least two virtual accounts are determined according to the investment risk assessment result of the user, and the respective asset investment combination of the at least two virtual accounts is determined according to the fluctuation rate and the yield rate of the candidate asset investment combination and the respective corresponding risk tolerance ranges of the at least two virtual accounts, thereby realizing asset configuration according to the risk tolerance degree and the investment requirement of the user.
Drawings
FIG. 1 is a schematic flow diagram of an asset allocation method according to an embodiment of the present application;
FIG. 2 illustrates a schematic diagram of creating a virtual account and performing funds distribution and determining risk exposure provided by an embodiment of the application;
FIG. 3 illustrates a flow diagram for selecting an asset portfolio in accordance with an embodiment of the present application;
FIG. 4 illustrates a schematic diagram of account investment management and revenue assessment provided by an embodiment of the present application;
FIG. 5 illustrates a schematic diagram of an asset configuration system provided by an embodiment of the present application;
fig. 6 is a schematic structural diagram of a communication device according to an embodiment of the present application.
Detailed Description
The technical solutions of the embodiments of the present application will be clearly and thoroughly described below with reference to the accompanying drawings. In the description of the embodiment of the present application, unless otherwise indicated, "/" means or, for example, a/B may represent a or B, and "and/or" in the text is merely an association relationship describing an association object, which means that three relationships may exist, for example, a and/or B, and that three cases of a alone, a and B together, and B alone exist, and further, in the description of the embodiment of the present application, "a plurality" means two or more.
The terms "first," "second," and the like, are used below for descriptive purposes only and are not to be construed as implying or implying relative importance or implicitly indicating the number of technical features indicated. Thus, a feature defining "a first" or "a second" may explicitly or implicitly include one or more such feature, and in the description of embodiments of the application, unless otherwise indicated, the meaning of "a plurality" is two or more.
Technical terms in the embodiments of the present application will be first described below.
(1) Multi-account asset configuration:
The multi-account asset allocation refers to the asset allocation that investment portfolio products are placed into a plurality of (including two or more) virtual accounts according to a certain rule, each virtual account differentially selects investment targets, realizes independent buying and selling, and independently carries out investment performance evaluation.
(2) Psychological account:
Psychological accounts refer to investors who unconsciously plan a wealth into different accounts and manage them in different billing ways and psychological rules.
(3) Investment portfolio pyramid structure:
The investment composition pyramid structure refers to an investment structure which is used for dividing and selecting investment targets based on three dimensions of investment safety, potential and return rate and is capable of giving consideration to risks and benefits.
(4) Asset portfolio:
the asset investment portfolio refers to selecting various types of investment assets and the duty ratio of various investment assets to be combined according to the requirements of users, so that the investment requirements of the users are met. Wherein different portfolios of investment assets, as well as different investment asset ratios, may produce different revenue results and/or risk ranges.
Wherein different types of investment assets include different investment products, and wherein the different types of investment assets have different rates of return and/or volatility (i.e., investment risk). One type of investment asset may comprise a plurality of investment products of the same type, i.e., combining a plurality of investment products of the same type may constitute one type of investment asset. For example, the types of investment products may include bonds, bank regular deposits, credit cards, stocks, insurance financing, currency, bonds, funds, real estate, and the like. As another example, a plurality of stock class investment products (e.g., including stock a, stock B, and stock C) may constitute a stock class investment asset.
It is to be appreciated that the portfolio of assets can include multiple types of investment assets and the duty ratio of each type of investment asset, and that a type of investment asset can include multiple investment products such as, for example, a type A investment asset (bond and stock), a type B investment asset (fund), a type C investment asset (insurance), and the portfolio of assets can include 7 types, respectively, a combination of 50% type A investment asset and 50% type B investment asset, a combination of 40% type A investment asset and 60% type B investment asset, a combination of 50% type A investment asset and 50% type C investment asset, a combination of 30% type A investment asset and 70% type C investment asset, a combination of 50% type B investment asset and 50% type C investment asset, a combination of 30% type A investment asset, 30% type B investment asset and 40% type C investment asset, a combination of 20% type A investment asset, 40% type B investment asset and 40% type C investment asset. The above is merely an example and embodiments of the present application are not limited in this respect as the number of investment portfolios may be greater.
At present, most asset allocation methods provide a single investment portfolio and a fixed asset allocation proportion according to the risk bearing capacity of an investor, which has the advantages of matching the risk bearing capacity of the investor and providing a reasonable fluctuation asset allocation scheme, but has one or more of the following defects:
(1) There is no differential investment management for different use funds.
(2) The investment objectives of investors are not divided. For example, most of the investment services offered by financial institutions in the current market are asset allocation schemes based on mean-variance theory.
(3) Single account based asset allocation, once investors redeem investment products, may create an overall asset allocation proportion imbalance, resulting in having to adjust the investment assets.
The investors often have different uses or levels of importance, the different portions of the assets correspond to different investment needs, the levels of risk that can be tolerated are different, and a single portfolio cannot meet the different investment needs of the investors.
Therefore, the embodiment of the application provides a multi-account asset configuration method based on psychological accounts, and the asset configuration can be performed more carefully by adopting the method. In the embodiment of the application, the asset of the investor is divided into a plurality of (including two or more) virtual accounts, such as three virtual accounts, the plurality of virtual accounts are matched with various investment demands or uses or investment purposes of the asset of the investor, different virtual accounts correspond to different risk bearing ranges, asset configuration is respectively carried out on each virtual account, the different virtual accounts independently carry out buying and selling, and independent profit calculation and performance tracking are carried out, so that more flexible asset management can be realized, the investor can more intuitively know the investment conditions of the assets with different demands or uses, the consumption demands of the investor can be more accurately matched on the basis of not damaging the overall structure of the asset configuration of the investor, the investor can be helped to manage various assets more easily and accurately, and the investment and consumption purposes of the investor can be met to the greatest extent.
According to the multi-account asset allocation method provided by the embodiment of the application, by combining the psychological account theory and the investment portfolio pyramid structure theory, investment is dispersed into different virtual accounts according to the desirability level of investment income, different virtual accounts are differentially managed according to different risk bearing degrees, income desirability degrees and the like, multi-account independent buying and selling are realized, and investment performance evaluation is independently carried out.
Fig. 1 is a schematic flow chart of an asset configuration method according to an embodiment of the present application. The process may be performed by an asset configuration system, which may be implemented in software or hardware, or a combination of software and hardware. As shown in fig. 1, the process may include the steps of:
S101, creating at least two virtual accounts for a user to be subjected to asset configuration, and configuring the fund amount of the at least two virtual accounts.
At least two virtual accounts may be set for a user depending on the user's investment objectives, revenue expectations, investment risk exposure, funding use, etc. Optionally, the at least two virtual accounts may include a low craving account, a medium craving account, and a high craving account according to the risk tolerance level from low to high. The low craving account corresponds to the asset governed by the short-term consumption requirement of the user, the part of the asset requires high liquidity and low risk, the primary purpose is asset conservation and high benefit is not pursued, the medium craving account corresponds to the medium and long-term investment purpose (such as pension, education and the like) of the user, a certain risk can be born, the medium and long-term investment period can be accepted, the loss to a certain extent in a short period can be accepted, the high craving account corresponds to the asset with the value-added property as the investment purpose, the part of the asset is not in the short-term use plan, the pursuit is high benefit, and the high-degree risk can be born.
Alternatively, the three virtual accounts described above may be set for the user to be asset configured. Two of the three virtual accounts may also be set according to the actual situation or needs of the user, for example, if the most desired asset protection is determined according to the investment risk assessment result of the user or according to the selection of the user (for example, the user may select the virtual account to be set on the user interface for setting the virtual account), and at most, only the lower investment risk is able to be born, but not the higher investment risk is able to be born, only the low craving account and the medium craving account may be set for the user, so that asset configuration may be performed according to the actual situation or needs of the user.
Each virtual account set for the user in this step is associated with an entity account of the user, for example, an option may be provided in a user interface for setting up a virtual account for the user to select an entity account in order to set up a virtual account associated therewith for the entity account selected by the user.
Optionally, in the user interface for setting up the virtual accounts, the user may be allowed to input the fund amount or the fund proportion of each virtual account, or several candidate fund proportions may be provided for the user to select, so that the fund amount or the fund proportion of each virtual account may be configured by the user based on the psychological account thereof, and the amount of the entity account may be allocated to each virtual account, and the sum of the fund amounts of each virtual account is not greater than the total fund amount of the entity account.
S102, determining respective risk bearing degree ranges of each virtual account according to investment risk assessment results of the users.
According to the financial and income conditions, investment experience, investment purpose, risk preference, age and the like of the user, the investment risk assessment result of the user can be obtained through an online or present questionnaire assessment mode. The investment risk assessment results for the user can comprise the investment risk level of the user (for example, the investment risk level can comprise three risk bearing levels of high, medium and low), and the investment risk assessment results for the user can also comprise the risk bearing degree of the user on various assets (for example, the risk bearing degree of the user on certain type of assets can comprise three different risk bearing degrees of high, medium and low).
In one possible implementation manner, the risk tolerance ranges corresponding to the virtual accounts can be set in advance for each investment risk level, for example, the risk tolerance ranges set for the low-craving account, the medium-craving account and the high-craving account for the high risk level are sequentially equal to 10%, 15% and 25% in terms of investment loss, the risk tolerance ranges set for the low-craving account, the medium-craving account and the high-craving account for the medium risk level are sequentially equal to 8%, 10% and 15% in terms of investment loss, and the risk tolerance ranges set for the low-craving account, the medium-craving account and the high-craving account are sequentially equal to 5%, 8% and 10% in terms of investment loss. Thus, the investment risk level of the user is determined according to the investment risk assessment result of the user, and then the risk bearing degree range corresponding to each virtual account of the user can be determined according to the investment risk level of the user and the risk bearing degree range of each virtual account preset for the investment risk level in advance.
For example, if the investment risk assessment is performed on the user, and it is determined that the investment risk bearing level of the user is a high bearing level, the risk bearing ranges corresponding to the high craving account, the medium craving account and the low craving account can be obtained according to the preset corresponding relation, and the upper limit of the investment loss is equal to 10%, 15% and 25%.
In another possible implementation, the user may be allowed to set a risk tolerance range for each virtual account, e.g., in a user interface for setting virtual accounts, the user may be allowed to enter or select a risk tolerance range for each of the low craving account, the medium craving account, and the high craving account.
FIG. 2 illustrates a schematic diagram of creating a virtual account and performing funds distribution and determining risk exposure according to embodiments of the application.
As shown in the figure, based on psychological account theory, three virtual accounts with different fund uses are set, and the risk tolerance of each virtual account is determined, wherein the three virtual accounts comprise a low craving account, a medium craving account and a high craving account in the order of low risk tolerance. And evaluating the investment risk bearing capacity of the user, and confirming the risk bearing grade of the user. And determining the risk tolerance range of each virtual account according to the risk tolerance level of the user. And distributing funds in the entity account of the user to the three virtual accounts according to the requirements of the user.
And S103, determining the asset portfolio of each virtual account according to the fluctuation rate (namely risk) and the income rate of the candidate asset portfolio and the respective risk bearing degree range of each virtual account.
In the step, optionally, a mean variance-model can be adopted to solve the optimal asset investment portfolio for each virtual account through a nonlinear programming method.
FIG. 3 illustrates a flow chart for selecting an asset portfolio in accordance with an embodiment of the present application. As shown in fig. 3, the process may include the steps of:
s301, obtaining historical average yield of each investment product.
Alternatively, the average rate of return of each investment product may be obtained over a period of time (e.g., approximately five years), such as including an annual average rate of return, a monthly average rate of return, and the like.
S302, respectively determining the average yield of various investment assets according to the historical average yield of various investment products.
For example, the annual average rate of return of each type of investment asset may be calculated based on the annual average rate of return of each type of investment product in recent years obtained in step 301.
Alternatively, taking a class of investment assets as an example (here referred to as a first class of investment assets for clarity), the average profitability of the class of investment assets can be calculated according to the following formula:
Where E (r) is the average rate of return of the type of investment asset (i.e., the first type of investment asset), r(s) is the historical average rate of return of the s-th investment product in the type of investment asset, and n is the number of investment products contained in the type of investment asset.
And S303, determining the expected yield and the fluctuation rate corresponding to each candidate asset portfolio.
Optionally, after the average profitability of the various investment assets obtained in step S302, the expected profitability and the volatility of each candidate investment asset combination may be calculated for each candidate investment asset combination according to the average profitability of the various investment assets.
Alternatively, the expected profitability for each candidate portfolio can be calculated by the following equation:
Wherein E (R p) is the expected yield corresponding to a candidate portfolio of assets, ui is the average yield of the i-th type of investment assets in the candidate portfolio of assets, and can be calculated according to formula (1), w i is the proportion of the i-th type of investment assets in the portfolio of assets, and N is the number of investment assets in the portfolio of assets.
Alternatively, the volatility corresponding to each candidate portfolio can be calculated according to the following equation:
Wherein σ p is the volatility corresponding to the candidate portfolio, wi is the proportion of the i-th investment asset in the candidate portfolio, w j is the proportion of the j-th investment asset in the candidate portfolio, and Cov (R i,Rj) is the covariance between the i-th investment asset and the j-th investment asset in the candidate portfolio.
S304, determining the asset investment portfolio corresponding to each virtual account according to the fluctuation rate corresponding to each candidate asset investment portfolio and the risk tolerance range corresponding to each virtual account.
In this step, for each virtual account, a candidate portfolio of assets whose volatility matches the risk tolerance range of that virtual account may be assigned to that virtual account. And if the fluctuation rate of the candidate asset portfolio is in the risk tolerance range corresponding to the virtual account, the fluctuation rate of the candidate asset portfolio is considered to be matched with the risk tolerance range corresponding to the virtual account.
For example, if the volatility of a candidate portfolio is equal to 4% and the risk tolerance range for a low craving account is less than 5%, then the volatility of the candidate portfolio matches the risk tolerance range for the low craving account.
Alternatively, if there are multiple candidate portfolios whose volatility matches the range of risk tolerance corresponding to the same virtual account, then an optimal candidate portfolio may be selected from the multiple candidate portfolios for allocation to the virtual account.
Optionally, specific implementations of selecting an optimal candidate portfolio from the plurality of candidate portfolios may include the following:
Mode 1 an optimal candidate portfolio is selected from the plurality of candidate portfolios based on the expected profitability associated with the candidate portfolio and assigned to the virtual account, e.g., a candidate portfolio is selected with a highest profitability that increases the likelihood of obtaining a high profitability for the virtual account as compared to other candidate portfolios in the plurality of candidate portfolios.
Mode 2. From the plurality of candidate portfolios, selecting a candidate portfolio with a lowest volatility to allocate to the virtual account, the candidate portfolio with the lowest volatility having a greater probability of reducing investment risk for the virtual account than other candidate portfolios in the plurality of candidate portfolios.
In the embodiment of the application, after the optimal asset investment combination is allocated to each virtual account, investment operations, such as buying and selling of investment products, can be respectively carried out for each virtual account.
Optionally, in the embodiment of the present application, the benefits of each virtual account may be evaluated separately, and then the total benefits of all the virtual accounts may be determined according to the benefits of each virtual account.
Optionally, in the embodiment of the present application, investment management evaluation may be performed according to the asset benefits of the virtual account, for example, performing investment performance tracking and evaluation.
FIG. 4 illustrates a schematic diagram of account investment management and revenue evaluation provided by an embodiment of the present application.
As shown, assets are managed in a dual-layer account system, wherein the first layer is a physical account of a user, the second layer is three virtual accounts, such as a low craving account, a medium craving account and a high craving account, the three virtual accounts are independent of each other, and investment, income calculation and performance tracking can be independently carried out under each virtual account. The user can buy and sell the investment products in each virtual account according to the personal demands, and the change of the invested products of the single virtual account only affects the asset proportion in the virtual account, and does not affect the operation and management of other virtual accounts.
In the embodiment of the application, a plurality of virtual accounts associated with the entity account of the user are created, different virtual accounts correspond to different investment demands, funds of the entity account are distributed to each virtual account, the respective risk bearing degree range of each virtual account is determined according to the investment risk evaluation result of the user, and then the respective asset investment combination of each virtual account is determined according to the fluctuation rate and the income rate of the candidate asset investment combination and the respective corresponding risk bearing degree range of each virtual account, so that the asset configuration according to the risk bearing degree and the investment demands of the user is realized.
Based on the same technical conception, the embodiment of the application also provides an asset configuration system which can realize the method flow of the embodiment of the application.
Fig. 5 illustrates a schematic structural diagram of an asset configuration system according to an embodiment of the present application. The system includes a virtual account creation module 501, a funds distribution module 502, an asset configuration module 503, and further may include a revenue statistics module 504.
The virtual account creation module 501 is configured to create at least two virtual accounts for a user to be asset configured, where the at least two virtual accounts are managed with an entity account of the user, and different virtual accounts in the at least two virtual accounts correspond to different investment requirements.
And a funds distribution module 502, configured to allocate funds of the entity account to the at least two virtual accounts, where a sum of funds of the at least two virtual accounts is not greater than a total amount of funds of the entity account. And determining the risk tolerance ranges corresponding to the at least two virtual accounts according to the investment risk assessment result of the user, wherein the risk tolerance ranges corresponding to different virtual accounts in the at least two virtual accounts are different.
And determining the asset investment portfolio corresponding to each of the at least two virtual accounts according to the fluctuation rate and the yield rate of the candidate asset investment portfolio and the risk tolerance ranges of the at least two virtual accounts, wherein the asset investment portfolio comprises at least one type of asset and the duty ratio of each type of asset.
The profit statistics module 504 is configured to determine asset profits of the at least two virtual accounts, evaluate asset allocation effects of the at least two virtual accounts according to the asset profits of the at least two virtual accounts, and determine a sum of the asset profits of the at least two virtual accounts according to the asset profits of the at least two virtual accounts.
It should be noted that, the asset configuration system provided in the embodiment of the present application can implement all the method steps in the method embodiment and achieve the same technical effects, and the same parts and beneficial effects as those in the method embodiment in the embodiment are not described in detail herein.
Based on the same technical concept, the embodiment of the application also provides a communication device, which can realize the method flow provided by the embodiment of the application.
Fig. 6 is a schematic structural diagram of a communication device according to an embodiment of the present application. As shown, the apparatus may include a processor 601, a memory 602, and a bus interface 603.
The processor 601 is responsible for managing the bus architecture and general processing, and the memory 602 may store data used by the processor 601 in performing operations.
The bus architecture may comprise any number of interconnecting buses and bridges, and in particular one or more processors represented by the processor 601 and various circuits of the memory, represented by the memory 602, are linked together. The bus architecture may also link together various other circuits such as peripheral devices, voltage regulators, power management circuits, etc., which are well known in the art and, therefore, will not be described further herein. The bus interface provides an interface. The processor 601 is responsible for managing the bus architecture and general processing, and the memory 602 may store data used by the processor 601 in performing operations.
The flow disclosed in the embodiment of the present application may be applied to the processor 601 or implemented by the processor 601. In implementation, the steps of the signal processing flow may be performed by integrated logic circuits of hardware in the processor 601 or instructions in the form of software. The processor 601 may be a general purpose processor, a digital signal processor, an application specific integrated circuit, a field programmable gate array or other programmable logic device, a discrete gate or transistor logic device, a discrete hardware component, and may implement or perform the methods, steps and logic blocks of the present application in embodiments of the application. The general purpose processor may be a microprocessor or any conventional processor or the like. The steps of a method applied in connection with the embodiments of the present application may be embodied directly in a hardware processor for execution, or in a combination of hardware and software modules in the processor for execution. The software modules may be located in a random access memory, flash memory, read only memory, programmable read only memory, or electrically erasable programmable memory, registers, etc. as well known in the art. The storage medium is located in the memory 602, and the processor 601 reads the information in the memory 602 and completes the steps of the information processing flow in combination with its hardware.
Specifically, the processor 601 is configured to read the computer instructions in the memory 602 and execute an asset configuration method according to an embodiment of the present application.
It should be noted that, the communication device provided in the embodiment of the present application can implement all the method steps implemented in the method embodiment and achieve the same technical effects, and the same parts and beneficial effects as those of the method embodiment in the embodiment are not described in detail herein.
The embodiment of the application also provides a computer readable storage medium, wherein the computer readable storage medium stores computer executable instructions for causing a computer to execute the asset configuration method in the above embodiment.
Embodiments of the present application also provide a computer program product which, when invoked by a computer, causes the computer to perform one of the asset configuration methods of the above embodiments.
It will be appreciated by those skilled in the art that embodiments of the present application may be provided as a method, system, or computer program product. Accordingly, the present application may take the form of an entirely hardware embodiment, an entirely software embodiment or an embodiment combining software and hardware aspects. Furthermore, the present application may take the form of a computer program product embodied on one or more computer-usable storage media (including, but not limited to, disk storage, CD-ROM, optical storage, and the like) having computer-usable program code embodied therein.
The present application is described with reference to flowchart illustrations and/or block diagrams of methods, apparatus (systems) and computer program products according to the application. It will be understood that each flow and/or block of the flowchart illustrations and/or block diagrams, and combinations of flows and/or blocks in the flowchart illustrations and/or block diagrams, can be implemented by computer program instructions. These computer program instructions may be provided to a processor of a general purpose computer, special purpose computer, embedded processor, or other programmable data processing apparatus to produce a machine, such that the instructions, which execute via the processor of the computer or other programmable data processing apparatus, create means for implementing the functions specified in the flowchart flow or flows and/or block diagram block or blocks.
These computer program instructions may also be stored in a computer-readable memory that can direct a computer or other programmable data processing apparatus to function in a particular manner, such that the instructions stored in the computer-readable memory produce an article of manufacture including instruction means which implement the function specified in the flowchart flow or flows and/or block diagram block or blocks.
These computer program instructions may also be loaded onto a computer or other programmable data processing apparatus to cause a series of operational steps to be performed on the computer or other programmable apparatus to produce a computer implemented process such that the instructions which execute on the computer or other programmable apparatus provide steps for implementing the functions specified in the flowchart flow or flows and/or block diagram block or blocks.
It will be apparent to those skilled in the art that various modifications and variations can be made to the present application without departing from the spirit or scope of the application. Thus, it is intended that the present application also include such modifications and alterations insofar as they come within the scope of the appended claims or the equivalents thereof.

Claims (21)

1. An asset allocation method, comprising:
creating at least two virtual accounts for a user to be subjected to asset configuration, wherein the at least two virtual accounts are managed with an entity account of the user, and different virtual accounts in the at least two virtual accounts correspond to different investment requirements;
configuring funds of the entity account to the at least two virtual accounts, wherein the sum of the funds of the at least two virtual accounts is not more than the total funds of the entity account;
Determining risk bearing degree ranges corresponding to the at least two virtual accounts according to the investment risk assessment result of the user, wherein the risk bearing degree ranges corresponding to different virtual accounts in the at least two virtual accounts are different;
determining the asset investment portfolio of each of the at least two virtual accounts according to the fluctuation rate and the gain rate of the candidate asset investment portfolio and the risk bearing degree range corresponding to each of the at least two virtual accounts, wherein the asset investment portfolio comprises at least one type of asset and the duty ratio of each type of asset;
Wherein before determining the asset portfolio of each of the at least two virtual accounts according to the volatility and the return rate of the candidate asset portfolio and the risk tolerance ranges corresponding to each of the at least two virtual accounts, the method further comprises:
determining the average yield of various investment assets according to the historical average yield of each investment product, wherein each investment asset comprises at least one investment product;
Determining an expected rate of return for each candidate portfolio of assets based on the average rate of return for each type of investment asset, wherein each candidate portfolio of assets includes at least one type of investment asset;
Determining a volatility of each candidate asset portfolio based on a mean variance model, wherein the volatility corresponding to a first candidate asset portfolio in each candidate asset portfolio satisfies the following formula, and wherein the first candidate asset portfolio is any one of the candidate asset portfolios:
Wherein σ p is the volatility corresponding to the first candidate portfolio, w i is the proportion of the i-th type of investment assets in the first candidate portfolio, w j is the proportion of the j-th type of investment assets in the first candidate portfolio, and Cov (R i,Rj) is the covariance between the i-th type of assets and the j-th type of assets.
2. The method of claim 1, wherein the determining the respective portfolio of assets for the at least two virtual accounts based on the volatility and profitability of the candidate portfolio of assets and the respective risk tolerance ranges for the at least two virtual accounts comprises:
For each of the at least two virtual accounts, performing the steps of:
And allocating the candidate asset portfolio with the fluctuation rate matched with the risk tolerance range corresponding to the virtual account.
3. The method of claim 2, wherein the assigning the candidate portfolio of assets to the virtual account that matches a volatility to a risk tolerance range corresponding to the virtual account comprises:
And if the fluctuation rates of the candidate asset portfolios are matched with the risk tolerance range of the same virtual account, distributing the optimal candidate asset portfolio in the candidate asset portfolios to the same virtual account according to the fluctuation rates and/or the expected yield rates of the candidate asset portfolios.
4. The method of claim 3, wherein the optimal candidate portfolio is a candidate portfolio with a lowest volatility among the plurality of candidate portfolios, or
The optimal candidate portfolio is a candidate portfolio of the plurality of candidate portfolios that is expected to have a highest return.
5. The method of claim 1, wherein an average rate of return of a first type of investment asset of the plurality of types of investment assets satisfies the following formula, wherein the first type of investment asset is any one of the plurality of types of investment assets:
wherein E (r) is the average rate of return of the first type of investment asset, r(s) is the historical average rate of return of the s-th investment product in the first type of investment asset, and n is the number of investment products contained in the first type of investment asset.
6. The method of claim 1, wherein the expected rate of return corresponding to a first one of the candidate portfolios satisfies the following formula, wherein the first one of the candidate portfolios is any one of the candidate portfolios:
wherein E (R p) is the expected return rate corresponding to the first candidate portfolio, u i is the average return rate of the i-th type of investment assets in the first candidate portfolio, and w i is the proportion of the i-th type of investment assets in the first candidate portfolio.
7. The method of claim 1, wherein the determining the risk tolerance ranges for each of the at least two virtual accounts based on the investment risk assessment of the user comprises:
acquiring a risk bearing grade of the user according to an investment risk assessment result of the user;
And acquiring the risk tolerance range corresponding to each of the at least two virtual accounts corresponding to the risk tolerance level according to the risk tolerance level of the user.
8. The method of claim 1, wherein the method further comprises:
Respectively determining asset benefits of the at least two virtual accounts;
Respectively evaluating asset configuration effects of the at least two virtual accounts according to asset benefits of the at least two virtual accounts;
And determining the sum of the asset benefits of the at least two virtual accounts according to the asset benefits of the at least two virtual accounts.
9. The method of any of claims 1-8, wherein the at least two virtual accounts, from low to high risk exposure corresponding to different investment requirements, comprise:
a low craving account;
Craving an account;
High craving accounts.
10. An asset allocation system, comprising:
The system comprises a virtual account creation module, a virtual account management module and a virtual account management module, wherein the virtual account creation module is used for creating at least two virtual accounts for a user to be subjected to asset configuration, the at least two virtual accounts are managed with an entity account of the user, and different virtual accounts in the at least two virtual accounts correspond to different investment requirements;
A fund distribution module, configured to configure funds of the entity account to the at least two virtual accounts, where a sum of funds of the at least two virtual accounts is not greater than a total amount of funds of the entity account;
The asset configuration module is used for determining respective risk tolerance ranges of the at least two virtual accounts according to investment risk assessment results of the user, wherein the risk tolerance ranges corresponding to different virtual accounts in the at least two virtual accounts are different; and determining the asset portfolio corresponding to each of the at least two virtual accounts according to the fluctuation rate and the income rate of the candidate asset portfolio and the risk bearing degree range of each of the at least two virtual accounts, wherein the asset portfolio comprises at least one type of asset and the duty ratio of each type of asset;
wherein, the asset configuration module is further configured to:
determining the average yield of various investment assets according to the historical average yield of each investment product, wherein each investment asset comprises at least one investment product;
Determining an expected rate of return for each candidate portfolio of assets based on the average rate of return for each type of investment asset, wherein each candidate portfolio of assets includes at least one type of investment asset;
Determining a volatility of each candidate asset portfolio based on a mean variance model, wherein a volatility corresponding to a first candidate asset portfolio in each candidate asset portfolio satisfies the following formula, wherein the first candidate asset portfolio is any one of the candidate asset portfolios:
Wherein σ p is the volatility corresponding to the first candidate portfolio, w i is the proportion of the i-th type of investment assets in the first candidate portfolio, w j is the proportion of the j-th type of investment assets in the first candidate portfolio, and Cov (R i,Rj) is the covariance between the i-th type of assets and the j-th type of assets.
11. The system of claim 10, wherein the asset configuration module is specifically configured to:
For each of the at least two virtual accounts, performing the steps of:
And allocating the candidate asset portfolio with the fluctuation rate matched with the risk tolerance range corresponding to the virtual account.
12. The system of claim 11, wherein the asset configuration module is specifically configured to:
And if the fluctuation rates of the candidate asset portfolios are matched with the risk tolerance range of the same virtual account, distributing the optimal candidate asset portfolio in the candidate asset portfolios to the same virtual account according to the fluctuation rates and/or the expected yield rates of the candidate asset portfolios.
13. The system of claim 12, wherein the optimal candidate portfolio is a candidate portfolio with a lowest volatility among the plurality of candidate portfolios, or
The optimal candidate portfolio is a candidate portfolio of the plurality of candidate portfolios that is expected to have a highest return.
14. The system of claim 10, wherein an average rate of return of a first type of investment asset of the plurality of types of investment assets satisfies the following formula, wherein the first type of investment asset is any one of the plurality of types of investment assets:
wherein E (r) is the average rate of return of the first type of investment asset, r(s) is the historical average rate of return of the s-th investment product in the first type of investment asset, and n is the number of investment products contained in the first type of investment asset.
15. The system of claim 10, wherein the expected rate of return corresponding to a first candidate portfolio of the candidate portfolios satisfies the following formula, wherein the first candidate portfolio is any one of the candidate portfolios:
wherein E (R p) is the expected return rate corresponding to the first candidate portfolio, u i is the average return rate of the i-th type of investment assets in the first candidate portfolio, and w i is the proportion of the i-th type of investment assets in the first candidate portfolio.
16. The system of claim 10, wherein the asset configuration module is specifically configured to:
acquiring a risk bearing grade of the user according to an investment risk assessment result of the user;
And acquiring the risk tolerance range corresponding to each of the at least two virtual accounts corresponding to the risk tolerance level according to the risk tolerance level of the user.
17. The system of claim 10, wherein the system further comprises a revenue statistics module;
The profit statistics module is configured to determine asset profits of the at least two virtual accounts respectively, evaluate asset configuration effects of the at least two virtual accounts according to the asset profits of the at least two virtual accounts respectively, and determine a sum of the asset profits of the at least two virtual accounts according to the asset profits of the at least two virtual accounts.
18. The system of any of claims 10-17, wherein the at least two virtual accounts, from low to high risk exposure corresponding to different investment needs, comprise:
a low craving account;
Craving an account;
High craving accounts.
19. A communication device is characterized by comprising a processor and a memory;
The memory stores computer instructions;
The processor being configured to read the computer instructions and to perform the method of any one of claims 1-9.
20. A computer-readable storage medium, wherein the computer-readable storage medium stores computer-executable instructions, the computer-executable instructions for causing a computer to perform the method of any one of claims 1-9.
21. A computer program product, characterized in that the computer program product, when called by a computer, causes the computer to perform the method according to any of claims 1-9.
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CA2309853A1 (en) * 2000-05-29 2001-11-29 Andre J. Frazer Tax-efficient asset allocation system
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EP1664975A4 (en) * 2003-09-11 2008-04-23 Citibank Na Method and system for asset allocation
CN112116477B (en) * 2020-09-28 2023-09-19 中国银行股份有限公司 Investment transaction data processing method and device

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CA2309853A1 (en) * 2000-05-29 2001-11-29 Andre J. Frazer Tax-efficient asset allocation system
CN112016765A (en) * 2020-09-14 2020-12-01 上海众禄昭业财务咨询有限公司 Asset allocation method and device based on quantitative investment risk preference and terminal

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