融通基金总经理商小虎：锚定“央企指数工厂” 差异化布局夯实第二增长曲线

Core Insights - The article discusses the transformation of Rongtong Fund under the control of China Chengtong, highlighting its strategic shift towards serving state-owned enterprises and wealth management for residents, which has led to significant growth in assets [1][2]. Group 1: Company Growth and Strategy - As of June 2025, Rongtong Fund's total asset scale reached 339.8 billion yuan, an increase of 107.9 billion yuan or nearly 50% since being integrated into China Chengtong [1]. - The public fund asset scale reached 154.3 billion yuan, growing nearly 35% compared to before the integration [1]. - The company is focusing on a dual-driven development strategy centered on "serving state-owned capital operations" and "serving resident wealth management" [2]. Group 2: Investment Strategy and Product Development - Rongtong Fund is concentrating on state-owned enterprise (SOE) themed investments, launching several indices in collaboration with China Chengtong and the China Securities Index Company, which are being converted into investable ETF products [3]. - The introduction of patent data as a criterion for evaluating corporate innovation in the new indices represents a significant innovation in value assessment [3]. - The Rongtong CSI Chengtong SOE Technology Innovation ETF raised 1.785 billion yuan, setting a record for annual thematic index ETF fundraising during a market downturn [3]. Group 3: Research and Development Transformation - The company is transitioning from a reliance on individual fund managers to a platform-based, team-oriented, and integrated multi-strategy research and investment system [4]. - A major reform includes the establishment of a cross-departmental asset allocation committee to enhance collaboration and decision-making across various asset classes [4]. - The investment research system has evolved through three dimensions: from manual dispersion to intelligent aggregation, from experience-driven to process-driven, and from isolated strategies to collaborative multi-strategy approaches [4]. Group 4: Technological Empowerment - Rongtong Fund is enhancing its "AI-CORE" asset allocation system, which utilizes a unified data and AI platform to improve the breadth and depth of asset allocation [5]. - The introduction of AI Agent technology is advancing the investment research system towards a "human-machine symbiosis" model, enabling continuous learning and decision support [5]. - Over the past three years, the company's asset management scale has grown nearly 50%, with only a 5% increase in personnel, indicating significant efficiency gains from AI empowerment [5]. Group 5: Future Outlook - The company aims for a "three-year transformation and five-year elevation" strategy, focusing on a systematic strategic layout around unique resource endowments [6]. - Plans include developing three major SOE index product lines, enhancing the influence of SOE thematic investments, and creating innovative index products focused on key industrial clusters [6]. - Rongtong Fund is also expanding internationally, with the establishment of its first Cayman-listed fund and a successful public fund launch in Hong Kong [6][7]. Group 6: Global Strategy - The company is developing QDII funds to provide mainland investors access to global assets while exploring the issuance of SOE-themed ETFs in Hong Kong for foreign capital [7]. - This "dislocated development" approach reflects the company's commitment to leveraging its unique state-owned enterprise background to create a sustainable "second growth curve" [7].