非标停售、产品转型,三季报描述了诺亚怎样的未来?( 六 )

而为了满足客户对“固定收益”的理财产品的需求 , 诺亚将持续专攻标准化、净值型的产品 , 如标准化净值型债券基金、公募基金等 。

Instead we are focusing on satisfying our clients’ fixed income investment needs with public securities products such as standardized NAV-based bond funds mutual funds etc.

——诺亚2019年三季度财报原文

▎律师费导致毛利承压 , 但降本增效成果有望逐步展现

诺亚财富管理业务三季度的营业毛利率大幅降低 , 由去年同比的29.3%降低到了15.4% 。

这并不是因为营销支出提升 , 而主要是由于诉讼费用和律师费用的增长 。

Operating margin for the wealth management business for the third quarter of 2019 was 15.4% compared with 29.3% for the corresponding period in 2018 due to legal expenses incurred related to Camsing case.

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