以投资者获得感为核心 走有特色的高质量发展之路

Core Viewpoint - The public fund industry in China is undergoing a significant transformation from scale expansion to quality improvement, focusing on enhancing investor experience as the core measure of high-quality development [1][2] Industry Transformation - The introduction of the "Action Plan for Promoting High-Quality Development of Public Funds" addresses long-standing issues in the industry, requiring fund companies to be accountable not only for the investment process but also for the final returns experienced by investors [2] - Small and medium-sized fund companies face unique challenges in this transformation, including survival difficulties and the need to establish sustainable core competitiveness rather than relying on short-term trends [2][3] Pathways for Small and Medium-Sized Fund Companies - The policy encourages small and medium-sized institutions to pursue "specialized operations and differentiated development," allowing them to leverage their unique resources and expertise to compete effectively [3] - Financial companies like Caitong Fund must focus on differentiation and excel in their areas of expertise to carve out a niche in a competitive market [3] Investment Research and Product Development - Caitong Fund emphasizes the importance of a robust investment research system as the foundation for sustainable returns, focusing on talent development and long-term performance metrics [4] - The fund has doubled its research team size over the past three years, with research personnel now constituting one-third of the total workforce [4] - Caitong Fund has achieved leading performance metrics, with 13 of its funds ranking in the top 5% of their categories over the past year [5] Product Strategy - The company aims to create a diverse product lineup that connects investment capabilities with investor needs, focusing on specialized value creation rather than being a "jack of all trades" [5] - Caitong Fund has developed a range of equity products centered on growth, catering to different risk preferences, and has also introduced flexible fixed-income products to meet evolving investor demands [5][6] Service Enhancement - The company believes that exceptional research and products must be complemented by effective service to translate into real investor satisfaction [6] - Caitong Fund has launched the "With Finance Along" service brand, focusing on professional insights, diverse activities, and refined operations to enhance the investor experience [7] Future Outlook - The public fund industry is expected to enter a new phase of high-quality development, with increased competition and pressure on institutions lacking distinctive features and core competitiveness [8] - Caitong Fund plans to implement a "Transformation and Restructuring Year" in 2025, focusing on strategic planning, organizational structure, and customer operations to align with regulatory requirements and enhance investor satisfaction [8][9][10]