长盛基金投研“进化论”：发挥集体智慧，把握变革机遇

Core Viewpoint - Strengthening investment research capabilities is essential for public funds to implement the "investor-centric" philosophy and is fundamental to the industry's survival and development [1] Group 1: Investment Research System - The China Securities Regulatory Commission (CSRC) issued an action plan in May to enhance the core investment research capabilities of public funds, emphasizing the establishment of an evaluation index system for investment research capabilities [1] - The strategic deployment aims to address issues such as the disconnection between research and investment, as well as conflicts between investment and risk control, guiding the industry to reduce reliance on "star fund managers" and shift from individualistic approaches to systematic and team-based strategies [1] Group 2: Longsheng Fund's Approach - Longsheng Fund has a well-established investment research foundation and continuously upgrades its "platform-based, integrated, multi-strategy" investment research system, emphasizing collective decision-making to mitigate risks [1][2] - The company has developed a vertical system from teams to fund managers, along with a parallel system among fund managers of different styles, ensuring thorough discussions on investment targets, including market styles, industry patterns, competitive advantages, and shareholder structures [2] Group 3: Research and Decision-Making Mechanisms - Longsheng Fund has implemented a three-tiered fixed investment research discussion mechanism, including weekly report meetings, monthly simulated portfolio meetings, and quarterly investment committee meetings, to maintain information freshness and timely industry insights [3] - The company also conducts daily morning meetings and ad-hoc industry discussions to complete the loop from research output to investment conversion, effectively integrating team intelligence and covering a wide range of industries [3]