Core Viewpoint - CITIC Securities Asset Management is transitioning 17 of its large collective products to be managed by Huaxia Fund and changing their registration to public funds as part of the broader trend of public offering transformation in the securities asset management industry [1][2][3]. Group 1: Transition Details - CITIC Securities Asset Management has announced a meeting to discuss the change of management for its large collective products to Huaxia Fund, which is a subsidiary of CITIC Securities [1][4]. - The transition is in line with the regulatory requirements set forth by the China Securities Regulatory Commission (CSRC) and aims to protect the interests of the product holders [4][5]. - The management change is part of a broader initiative to comply with the CSRC's guidelines for asset management businesses, encouraging firms to convert their large collective products into public funds [5][6]. Group 2: Industry Context - The public offering transformation of large collective products is a common challenge faced by securities asset management firms, with the requirement that the management entity must hold a public fund license [7]. - CITIC Securities Asset Management has been actively pursuing a public fund license but has not yet received approval [7]. - Other securities firms have also opted to transfer their large collective products to their public fund subsidiaries, indicating a trend within the industry [8].
连发17份公告!中信证券资管,大动作!