“三投资”方法论 | 公募基金篇一 破解信任危机，提升基民获得感

Core Viewpoint - The public fund industry has undergone a significant trust crisis over the past five years, with active equity funds experiencing a decline in scale and reputation, necessitating a shift towards a more investor-centric approach in marketing and management practices [1][4][8]. Group 1: Industry Performance and Trends - The active equity fund market reached a peak of 6.16 trillion yuan in 2021, a 177% increase from 2019, but is projected to shrink to 3.43 trillion yuan by the end of 2024, a 44% decrease [3]. - The average annual return for active equity funds was 53.57% in 2020, dropping to -19.2% in 2022 and -11.78% in 2023, reflecting a significant decline in performance [3]. - In the first quarter of this year, despite a 3.86% average return for active equity funds, net redemptions reached 693.04 million units, indicating ongoing investor skepticism [4]. Group 2: "Three Investments" Concept - The "Three Investments" concept (rational investment, value investment, long-term investment) is seen as essential for addressing the industry's trust issues and improving investor experience [1][2][4]. - The promotion of the "Three Investments" concept aims to reduce short-term speculation, enhance resource allocation, and stabilize the market [2]. - The transition from a scale-oriented approach to one focused on investor returns is crucial for sustainable industry development, emphasizing the importance of performance and service quality [4][5]. Group 3: Investor Trust and Experience - The shift in investor behavior from "high entry" to "deep entrapment" and "micro-redeem" highlights deficiencies in product management, marketing strategies, and investor education [6]. - Enhancing customer-centric demand response and solution capabilities is vital for rebuilding investor trust [6]. - The industry is encouraged to establish long-term assessment mechanisms that prioritize customer experience and retention over short-term performance metrics [7][8].