平台时代已至 “选基金就是选人”迎来新解

Group 1 - The public fund industry is transitioning from a "star manager" era to a "platform era," driven by the rise of passive investment products like ETFs, which have surpassed 4.5 trillion yuan as of July [1][2] - The number of fund manager changes has reached nearly 3,000 this year, indicating a trend of mass departures among fund managers, raising concerns among investors about whether to hold or sell their funds [2] - The industry is witnessing a shift towards multi-manager models, which leverage team strengths and mitigate risks associated with individual manager departures, ensuring more stable fund performance [3] Group 2 - Regulatory bodies are encouraging fund companies to enhance their research and investment systems, promoting a team-based management approach to strengthen the overall investment capabilities [2] - Companies are increasingly adopting technology and platform-based strategies to reduce reliance on individual capabilities, with examples like China Europe Fund integrating industrialized processes into their research systems [3] - The investment selection strategy for investors is evolving, focusing more on the overall strength and stability of the fund company's research team rather than individual fund managers, reflecting a broader shift in investment philosophy [4]