又见券商资管 批量变更管理人！

Core Viewpoint - The article discusses the recent changes in management for several large collective investment products under Guangzheng Asset Management, indicating a trend of transitioning these products to public fund management companies as the deadline for compliance with new regulations approaches [5][6]. Group 1: Management Changes - On November 27, Guangzheng Asset Management transferred eight large collective investment products to Everbright Pramerica Fund Management, which is 55% owned by Everbright Securities [5]. - This transfer is part of a broader trend where many securities firms are moving their collective investment products to affiliated public fund companies due to the expiration of the transitional period for compliance with new asset management regulations [5][6]. Group 2: Industry Trends - The transition to public fund management is becoming the mainstream approach for securities firms that do not hold public fund licenses, as they face three options: liquidation, extension, or changing the management [5][6]. - The pace of management changes has accelerated, with multiple firms, including GF Asset Management and Huafu Fund, also announcing similar transitions in November [6][7]. - As of now, only Guojin Asset Management remains in the queue for public fund license applications, while several firms, including Guangzheng Asset Management, have withdrawn their applications [8][9]. Group 3: Market Competition - The asset management industry is experiencing intense competition, particularly in fixed income and cash management products, from public funds and bank wealth management subsidiaries [9]. - Analysts suggest that the public fund path is more suitable for leading institutions with comprehensive financial ecosystems and retail channels, while specialized securities firms may find private fund paths more advantageous [9].