南方财经副总编辑邓红辉：资管行业亟需破解三大痛点问题

Core Insights - The global asset landscape has shifted towards a new paradigm characterized by the dominance of safe-haven assets and the differentiation of risk assets [2][3] - Client demands are evolving in three significant ways: moving from "single track" to "all-weather solutions," shifting from "relative returns" to "absolute returns + drawdown control," and transitioning from "local allocation" to "global multi-market, multi-strategy" [2][4] Industry Challenges - The asset allocation landscape faces several challenges, including pricing anchor drift due to frequent event risks such as tariffs and geopolitical issues, leading to significant estimation errors in traditional macro models [4] - There exists a paradox of "asset scarcity" alongside a "high yield demand" on the liability side, with a notable shortage of long-duration safe assets domestically [4][5] - The industry is experiencing a talent bottleneck, with a significant gap in professionals who understand both macroeconomic factors and quantitative analysis [4][5] Required Solutions - The industry needs to address three critical pain points: 1. Strategy homogenization and talent shortages, necessitating the translation of macro narratives into actionable structured tools [4][5] 2. Mismatches between product forms and liquidity, highlighting the need for innovative vehicles that offer tiered maturities and layered liquidity [5] 3. Disconnection between global allocation and local service, requiring enhanced localized research and compliance frameworks to capitalize on emerging market opportunities [5] Future Outlook - The asset management industry is at a pivotal moment, requiring deeper communication and collaboration among peers to transform uncertainties into excess returns and foster long-term value for clients [5]