进入冲刺期！券商资管大集合参公改造再添一例

Core Viewpoint - The transformation of brokerage asset management large collective products into public offerings is accelerating as the deadline for regulatory compliance approaches, with significant changes in management and structure occurring across various firms [1][5][8]. Group 1: Regulatory Changes and Compliance - The deadline for the public offering transformation of brokerage asset management large collective products is set for the end of 2025, following regulatory requirements established in November 2018 [5]. - Firms are required to complete the transformation of existing large collective products to comply with new asset management regulations, with options for management transfer depending on the public offering qualifications of the original managers [5][6]. Group 2: Management Changes - On December 1, 2023, the management of the Galaxy Mercury Juhua Medium and Short Bond Collective Asset Management Plan was transferred from Galaxy Jin Hui Securities Asset Management to Xinda Australia Fund, marking a significant management change [4]. - There is a trend of transferring management to non-affiliated public fund companies, as seen with Wanlian Securities' transfer of its money market fund to Ping An Fund [7]. Group 3: Industry Trends and Implications - The public offering transformation is expected to optimize resources and promote differentiated development within the industry, enhancing transparency and legal status for the products [8]. - The transformation is anticipated to lower entry barriers for clients, potentially increasing the scale of assets under management and improving the investment management standards of the products [8].