公募基金要强化定价能力 助力市场降低波动

Core Viewpoint - The public fund industry in China should enhance its pricing ability to reduce market volatility and be accountable for long-term performance to investors [1] Group 1: Industry Insights - Over the past 20 years, domestic public funds have demonstrated the capability to generate excess returns [1] - Despite rapid growth in scale, public funds have shown a tendency to focus on initial offerings rather than ongoing management [1] - Recent reforms, such as fee reductions, aim to guide public funds back to their core mission of serving the real economy [1] Group 2: Market Functionality - The capital market's financing function relies on the effective operation of investment functions [1] - Historically, the A-share market has exhibited high volatility, leading to insufficient investor satisfaction [1] - The recent reforms in public funds are fundamentally aimed at shifting focus from scale to returns, thereby reducing market volatility and enhancing investor experience [1] Group 3: Future Outlook - The asset management industry has significant growth potential, and companies like Changjiang Securities will continue to lead with research-driven comprehensive services [1]