信息量很大！刚刚，中欧基金窦玉明重磅发声

Core Viewpoint - The transformation of the asset management industry towards "professionalization, industrialization, and digitalization" is essential for sustainable growth and long-term performance in the public fund sector [5][6][11]. Group 1: Transformation Strategy - The core concept of "Zhongou Manufacturing" aims to establish a clear, stable, and replicable system to better meet the asset management needs of the public [8][9]. - The transformation involves three key aspects: professionalization, industrialization, and digitalization, which together create a research and investment system with higher quality outputs and long-term viability [9][10]. - Professionalization focuses on building knowledge-intensive teams to enhance research depth and judgment, allowing for specialized insights that surpass market expectations [9][10]. Group 2: Industrialization and Digitalization - Industrialization is about improving organizational collaboration and efficiency, ensuring that insights can be effectively communicated and implemented in investment decisions [10][11]. - Digitalization aims to convert human experience and judgment into reusable data assets, enhancing the decision-making process through structured information and intelligent systems [10][11]. - The goal of digitalization is to transform individual expertise into a collective organizational capability, thereby increasing overall efficiency and output quality [11][20]. Group 3: Long-term Focus and Team Collaboration - The emphasis is on long-term performance rather than short-term gains, with a focus on building a sustainable organization that consistently generates investment insights [6][12]. - The organization promotes a decentralized structure where decision-making is collaborative, allowing for diverse perspectives and reducing reliance on individual fund managers [15][18]. - The stability of fund managers has improved due to the collaborative support system, making it harder for them to leave without the necessary research backing [14][22]. Group 4: Challenges and Solutions - The primary challenge in implementing the transformation is managing human factors, including selecting, training, and retaining talent [20][21]. - The organization recognizes that the most valuable individuals often have strong opinions, making collaboration difficult; thus, establishing mechanisms for effective communication is crucial [20][21]. - The concept of "good product rate" has been introduced to measure the effectiveness of the research and investment system, focusing on long-term stability and structural optimization [23][24]. Group 5: Focus on Active Management - The company believes in the importance of active management and has chosen to focus solely on this area, rather than diversifying into passive investment strategies [26][27]. - The rationale is that active management requires deep research and talent, while passive investment emphasizes cost efficiency, leading to conflicting cultural approaches [27]. - The long-term strategy is to enhance the quality of active management and achieve superior performance through specialized expertise [26][27].