ETF简称规范倒计时：重塑市场竞争格局的“正名之战”

Core Viewpoint - The new regulation for ETF naming in China aims to standardize the naming convention by requiring the inclusion of the fund manager's name, which is expected to enhance investor recognition and reduce confusion in the market [1][3][5]. Group 1: Regulatory Changes - The Shanghai and Shenzhen Stock Exchanges have issued revised guidelines mandating that all existing ETFs must change their names to include the fund manager's name by March 31, 2026 [1][3]. - The new naming structure will follow the format of "core elements of the investment target + ETF" and will help clarify product identity for investors [4][6]. Group 2: Industry Impact - The regulation is seen as a shift from a focus on "name dividends" to a competition based on "brand strength," which may lead to increased market concentration and a "stronger getting stronger" dynamic [1][7]. - Major fund companies like E Fund and Huaxia have already begun to implement the new naming convention, indicating a proactive approach to the changes [4][6]. Group 3: Competitive Landscape - The new rules are expected to benefit larger fund companies, as clearer identification of fund managers will likely lead investors to prefer products from well-established brands with strong reputations [6][7]. - The competition will shift from merely securing popular names to emphasizing brand loyalty and historical performance, which may disadvantage smaller firms [6][7]. Group 4: Naming Strategy - Fund companies are adopting a phased approach to renaming their ETFs, prioritizing less popular products for early changes while delaying adjustments for high-volume products to minimize disruption [8][9]. - The costs associated with renaming are primarily related to updating marketing materials and operational systems, with a focus on ensuring all platforms are synchronized to avoid trading errors [9][10].