公募改革落地！释放什么信号？A股午后飙涨，大金融是主力！

Core Viewpoint - The A-share market has shown significant growth, with the Shanghai Composite Index surpassing 1% and reaching a nearly two-month high of 3400 points, driven by the financial sector and low-fee ETFs [1][3]. Group 1: Regulatory Developments - The China Securities Regulatory Commission (CSRC) has released the "Action Plan for Promoting High-Quality Development of Public Funds," emphasizing long-term investment value and guiding asset allocation towards the CSI 300 index [3][4]. - The new assessment system will focus on long-term value, with a minimum of 80% weight on medium to long-term returns over three years [3][4]. Group 2: Market Opportunities - The CSI 300 index, which focuses on large-cap blue-chip stocks, is expected to benefit from the new long-term value assessment system, attracting long-term capital inflows [4][10]. - The banking sector, characterized by high dividends and low valuations, is likely to see increased interest from long-term investors due to the extended assessment period [4][10]. Group 3: Fund Management Trends - The plan aims to significantly increase the scale and proportion of equity investments in public funds, promoting the development of various index funds and implementing a rapid registration mechanism for ETFs [7][10]. - A new floating management fee model linked to fund performance will encourage institutional capital to adopt long-term balanced investment strategies, potentially increasing allocations to underrepresented sectors like banking [8][10].