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中欧基金窦玉明: 基金行业无需造神平台赋能“第三代基金经理”
Zheng Quan Shi Bao·2025-08-17 17:44

Core Viewpoint - The chairman of China Europe Fund, Dou Yuming, emphasizes the importance of system construction and long-term competitiveness in the increasingly competitive public fund market in China [1] Group 1: Investment Research System - Dou Yuming proposes the concepts of "professionalization, industrialization, and digitalization" to build a replicable investment research capability [2][3] - "Professionalization" is the foundation, focusing on deep specialization in specific industries to enhance analytical depth and reduce direct competition [2] - "Industrialization" aims to transition investment research from a "workshop" model to an "industrial production" model, ensuring efficient knowledge transfer and execution [3] - "Digitalization" leverages technology to enhance execution capabilities, structuring data and historical research for long-term sharing and model-driven decision-making [3][4] Group 2: Talent Management System - The core competitiveness of the investment research team relies on a comprehensive talent management system encompassing selection, training, motivation, and elimination [5][7] - Selection is critical, requiring assessment of knowledge, skills, and multidimensional testing of candidates' judgment and risk awareness [5] - Training is a long-term investment, with a typical fund manager requiring 20 years to mature, emphasizing the need for experienced mentors [6] - A clear and transparent incentive mechanism is essential, with performance targets set to ensure long-term product quality [6][7] Group 3: Team and Platform - Team building is fundamental for sustained performance, as a collaborative platform can provide broader coverage and stability compared to individual efforts [8][9] - The investment research team consists of approximately 80 members, with a structured approach to covering a wide range of stocks [8] - Dou Yuming introduces the concept of the "third-generation fund manager," who relies on platform support to focus on specialized areas and manage larger funds [9][10]