Group 1 - The core viewpoint of the article emphasizes the importance of high-quality development in the public fund industry, focusing on investor interests and transitioning from scale to investor returns [1] - The China Securities Regulatory Commission released an action plan in May 2025 to promote high-quality development in the public fund sector, urging institutions to prioritize the best interests of investors [1] - Guo Xin Guo Zheng Fund Management Co., Ltd. has been committed to a culture of compliance, integrity, professionalism, and stability since its establishment in 2019 [1][2] Group 2 - The company advocates for a business philosophy centered on "integrity and compliance," ensuring the protection of investors' legal rights through robust internal governance and risk control systems [2] - The company focuses on enhancing service quality for the real economy and aims to contribute to the establishment of a high-quality capital market that aligns with a strong financial nation [2][3] - The company is actively developing a new investment research system that emphasizes long-term value creation and team collaboration [3] Group 3 - The company is expanding its product offerings, including various fixed-income products such as interest rate bonds and credit bond funds, to meet diverse investor needs [3] - A mechanism for regular communication and service maintenance with existing group and central enterprise clients has been established [3][4] - The company emphasizes the importance of talent development and ethical standards, aiming to build a high-quality professional financial workforce [4]

责任编辑：石秀珍 SF183 京东肯特瑞基金、中信建投基金有关负责人分别进行了主题分享。在互动环节学生提问踊跃，涵盖行业 趋势、投资实践与职业准备等多个维度。鹏扬基金为现场提问的同学准备了互动礼品，并由公司到场员 工发放，以鼓励大家积极提问、深入思考、增进对公募基金行业的了解。 专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 公募基金的高质量发展是一项需要长期推进的系统性工程。鹏扬基金将一如既往严格落实监管要求，与 行业同仁携手推动行业稳健前行。同时，公司高度重视金融人才的前瞻培养，未来将继续通过投资者教 育、校企合作等多元方式，陪伴青年学子从校园起步，逐步成长为有信念、有能力的金融行业专业力 量。 9月22日上午，"新时代・新基金・新价值——北京公募基金高质量发展在行动・走进校园系列"主题活 动在中国人民大学举办。本次活动由京东肯特瑞基金联合中信建投基金、华夏基金、鹏扬基金、中航基 金、益民基金、方正富邦基金、英大基金共同承办。活动旨在搭建公募基金行业与高校之间的深度对话 平台，帮助青年学子把握行业高质量发展新趋势，从而为未来学习与职业规划提供清晰指引。活动中， 京东肯特瑞基金与中信建投基金作 ...

（三）提升长期投资能力，更好推动上市公司治理能力改善 公募基金是支持实体经济增长的长期重要资金来源。今年1月22日，中央金融办、证监会、财政部、人 社部、央行金融监管总局联合印发《关于推动中长期资金入市工作的实施方案》，重点引导商业保险资 金、全国社会保障基金、基本养老保险基金、企（职）业年金基金、公募基金等中长期资金进一步加大 入市力度。1月23日，在国务院新闻办公室发布会上，证监会主席吴清又进一步在"提升实际投资比 例"方面，公布了稳步提高中长期资金投资A股规模和比例的具体安排，明确公募基金持有A股流通市值 未来三年每年至少增长10%。英大基金通过专业投研人员前瞻性发现投资价值，配置科创领域企业发行 的股票或债券，引导社会资本多维度支持科创企业发展，推动优秀科创企业价值发现，树立科技金融服 务新质生产力发展的鲜明导向。 （二）提升产品研发能力，更好服务科创领域普惠投资需求 公募产品每日公布净值、每季度披露资产组合，申赎灵活、运作规范、结算透明、风控严格，投资者如 不满意基金经理管理能力可随时赎回（非持有期产品），是最具备"用脚投票"自由的"普惠"金融工具。 经过27年的发展，目前公募基金行业管理规模已突破 ...

Core Viewpoint - The launch of the "Beijing Public Fund High-Quality Development Series Activities" aims to promote the transformation of the public fund industry from focusing on scale to emphasizing returns, driven by the new floating fee rate reform [1] Opportunities - The new action plan encourages fund managers to enhance their research and investment capabilities by linking management fees to fund performance, thus redefining the relationship between fund managers and investors [2] - It promotes the establishment of a scientific assessment system focused on long-term investment returns, fostering a culture of long-term value creation for investors [2] - The floating fee structure is particularly beneficial for actively managed equity funds, allowing fund companies to expand their market share in equity investments while improving their research capabilities [2] Challenges - The transition to floating fee funds requires significant system upgrades, which may pose a financial burden for smaller fund companies due to the complexity of the new fee calculation and management processes [3] - Increased competition in the asset management industry is expected as the reform shifts the focus from scale to investment performance, making it essential for firms to consistently generate excess returns to remain viable [3] - There is a pressing need for investor education regarding the complexities of floating fee structures, necessitating fund companies to invest more time and resources in explaining these products to avoid premature redemptions [4]

活动现场，国联基金工作人员向学生分发投教手册，内容涵盖个人养老金规划、定投习惯养成、非法集 资等实用知识。作为深耕高校投教的参与者，国联基金聚焦一对一互动场景，结合自身行业经验与大学 专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 为深入贯彻落实国家关于加强金融消费者权益保护、提升社会公众金融素养的政策要求，积极响应北京 辖区"新时代・新基金・新价值"公募基金高质量发展行动活动的号召，9月23日下午，由嘉实基金牵 头，泰康基金、国联基金、中邮基金、人保资产、度小满 6 家在京金融机构共同组织走进对外经贸大 学，携手开展本年度秋季投教工作——秋季开学第一课活动。国联基金继4月走进对外经济贸易大学开 展以"养老经济"为主题的投教知识进课堂活动后，此次再度携手同业开展"秋季开学第一课"，既是对前 期投教工作的延续与深化，更是以实际行动践行普及金融知识、履行投教使命的责任。 互动环节中，学生们聚焦自身关切踊跃提问，问题既涵盖"新手如何开启定投"等实用理财知识，又涉 及"金融专业职业发展路径"等未来规划方向。面对学生们的问题，现场工作人员结合丰富的行业实践经 验，逐一进行细致拆解与专业解答。考虑到大学生群 ...

Group 1 - The core theme of the event is "New Era, New Fund, New Value," aimed at promoting high-quality development in the public fund industry in Beijing [1] - The initiative is guided by the Beijing Securities Regulatory Bureau and involves collaboration with various stakeholders, including fund managers, sales institutions, and media [1] - The activities will last for over a month and focus on investor education, protection, and enhancing the fund industry's ability to serve the real economy [1] Group 2 - Huashang Fund is actively promoting financial and investment knowledge, advocating for long-term and rational investment principles [1] - The fund aims to enhance public awareness of risk prevention and contribute to the high-quality development of the industry [1]

践行信任：构建可持续的投资者获得感 高质量发展的核心在于提升投资者的真实获得感。 嘉实基金提出了一个综合公式：产品方案+投资回报+投资体验+投资陪伴=投资者获得感。这意味着基 金公司需从单一产品供给转向提供综合化、配置化的解决方案，满足投资者日益多元化的需求。同时， 通过优化产品设计，如定期分红、费率改革等，加强投研体系建设，通过信息、能力、决策三大支柱协 同，以及深化投资者陪伴，多维度夯实投资获得感。 专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 伴随《推动公募基金高质量发展行动方案》的发布与一系列改革举措的稳步推进，公募基金行业正迎来 深化转型的关键时期。在这一背景下，公募行业机构积极行动，以"新时代·新基金·新价值"为引领，努 力将高质量发展的宏伟蓝图转化为投资者实实在在的获得感，书写服务实体经济与居民财富管理的新篇 章。 担当桥梁：让投资者见证产业高速发展 公募基金的本质是联接产业增长与投资者回报的桥梁。通过深度基本面研究，发挥价值发现、风险管理 等专业能力，基金公司将社会资本引导至国家战略指引的关键领域，如科技创新、先进制造、绿色能源 等，直接助力现代化产业体系构建。 以嘉实基金为例 ...

Core Views - The article discusses the significant systemic transformation in China's public fund industry following the release of the "Action Plan for Promoting High-Quality Development of Public Funds" [1][9] - The plan aims to enhance the core investment research capabilities of public funds, which is essential for serving investors and creating sustainable returns [2][9] Group 1: Investment Research Capability - Strengthening core investment research capabilities is crucial for fund companies to serve investors and generate long-term returns [2] - The plan proposes establishing a performance evaluation system for investment research capabilities and promoting a collaborative team approach rather than individual-driven models [2] - Silver华基金 has been exploring an "industrialized" approach to active equity investment, moving away from the traditional star fund manager model [2] Group 2: Floating Management Fee Funds - The plan encourages the development of floating management fee funds that align the interests of fund managers with those of investors [3] - This fee structure adjusts management fees based on actual fund performance, promoting a focus on generating returns rather than merely managing assets [3][4] - The floating fee mechanism aims to foster a culture of long-term investment and improve investor experience [3] Group 3: Performance Benchmarking - The plan emphasizes the need for a regulatory framework for performance benchmarks, ensuring that fund companies adhere to strict guidelines for setting and disclosing benchmarks [5] - Silver华基金 aims to create a benchmark system that reflects the investment style of fund managers, enhancing investor confidence and market health [5] Group 4: Long-Term Evaluation and Incentives - The plan calls for a reform of performance evaluation mechanisms, focusing on long-term investment returns rather than short-term metrics [6] - Silver华基金 implements a long-term evaluation system, with a significant weight on three to five-year performance metrics [6] Group 5: Innovation in Equity Funds - The plan promotes the innovation of equity fund products, particularly in developing various index funds that align with national strategies [7][8] - Silver华基金 has established a diverse product matrix covering core indices and has focused on creating a range of ETFs to meet evolving market demands [8] Group 6: Overall Industry Direction - The plan underscores the importance of prioritizing investor interests and shifting the industry's focus from asset management scale to improving investor returns [9] - The public fund industry is expected to play a crucial role in connecting resident wealth growth with high-quality development of the real economy [9]

Group 1 - The A-share pharmaceutical sector showed recovery with significant gains in innovative drugs and traditional Chinese medicine, highlighted by Ganli Pharmaceutical's strong performance and a supply agreement worth no less than 3 billion yuan with a Brazilian company [1] - The largest medical ETF in A-shares saw a rebound, with notable increases in CXO concept stocks and medical consumables, indicating a recovery in the medical sector [3] - The Hong Kong stock market displayed mixed performance in innovative drugs, with some leading stocks rising while others fell, reflecting a volatile market environment [5] Group 2 - The fund manager of the Hong Kong Innovation Drug ETF expressed optimism about the CXO sector and the potential for a mid-term rotation towards large-cap blue-chip companies, while cautioning about the performance of small-cap companies [6] - The medical ETF market is dominated by the medical ETF (512170) with a scale of 26.5 billion yuan, making it the largest in the sector, while the drug ETF is the only one tracking the CSI Pharmaceutical Index [8] - The Hong Kong Innovation Drug ETF is designed to passively track the Hang Seng Hong Kong Innovation Drug Select Index, which has shown negative annual returns since its inception, indicating potential challenges ahead [9]

Core Viewpoint - The banking sector is experiencing a resurgence, with significant gains in stock prices and increased trading activity, indicating a potential recovery after a period of decline [1][3]. Group 1: Market Performance - As of September 24, bank stocks showed strong performance, with Chongqing Rural Commercial Bank leading with a nearly 3% increase, and other major banks like Postal Savings Bank, Industrial and Commercial Bank, and China Construction Bank rising over 1% [1]. - The Bank ETF (512800) saw a price increase of 0.88%, with a trading volume exceeding 600 million yuan within the first half hour of trading, reflecting high market enthusiasm [1][3]. Group 2: Investment Insights - The recent pullback in bank stocks is attributed to short-term market style shifts, but the long-term valuation recovery logic remains intact [3]. - The average static dividend yield for A-share listed banks has risen to 4.3%, and the average static price-to-book (PB) ratio has decreased to 0.61x, indicating a high potential for equity returns [3]. - The Bank ETF (512800) is positioned as an efficient investment tool, tracking the performance of 42 listed banks in A-shares, and has maintained a significant scale with an average daily trading volume of over 600 million yuan this year [3].