当选择成为难题：天弘指数的“解决方案”转型

Core Viewpoint - The rapid growth of the ETF market in China has led to an overwhelming number of products, creating a "choice paralysis" for investors, who struggle to select suitable ETFs among similar offerings [1][2]. Group 1: Market Growth and Challenges - The number of domestic ETF products surged from 378 at the end of 2020 to 1,325 by the end of Q3 2025, while the total scale of ETF funds increased from 1.11 trillion yuan to 5.63 trillion yuan [1]. - As of July this year, China has surpassed Japan to become the largest ETF market in Asia, but the saturation of product offerings has complicated decision-making for investors [1]. Group 2: Company Strategy and Product Development - Tianhong Fund emphasizes transitioning from merely providing passive investment tools to offering comprehensive asset allocation solutions that can withstand market cycles [2]. - The company focuses on a "precision and sufficiency" product matrix, prioritizing high-quality products in key broad-based and core sectors while ensuring a diverse range of strategies in niche areas [3]. Group 3: Innovative Investment Tools - Tianhong has developed various intelligent investment tools, such as the industry rotation model and strategy target investment, which have significantly increased user engagement and transaction volumes [7]. - The company’s index enhancement products have consistently ranked in the top 40% for excess returns over the past three years, showcasing the effectiveness of their AI-driven investment strategies [5]. Group 4: Future of Index Investment - The shift towards "Index Investment 2.0" aims to simplify the investment process from a complex selection task to a clear operational task, focusing on delivering tangible results for investors [8].