破局公募“靠天吃饭”、捕捉产业变革红利、持仓如何“积小胜为大胜”？三大基金名将最新研判

Core Viewpoint - The article emphasizes the transformation of the Chinese public fund industry from scale expansion to high-quality development, highlighting the importance of digital research and decision-making platforms in optimizing asset allocation and enhancing investment strategies [1][2]. Group 1: Tianhong Fund's Digital Transformation - Tianhong Fund's Vice President Nie Tingjin has developed a digital research platform called TIRD (Tianhong Intelligent Research and Decision) to address the industry's reliance on star fund managers and to provide a new model for industrial transformation [5][6]. - The TIRD platform successfully issued a "sell" alert in March 2025 based on multiple overheat signals, allowing the fund to avoid significant losses during a market downturn [5][6]. - Nie describes the public fund industry as being in a "farming civilization" stage, facing challenges such as over-reliance on individual managers and a lack of systematic research and investment integration [7][8]. - The TIRD platform aims to create a process that is traceable, replicable, and predictable, moving the industry towards an "industrial civilization" through a digital decision-making framework [9][10]. - The platform integrates research, investment, and risk control, ensuring that all decisions are documented and based on quantifiable data, thus enhancing accountability and efficiency [10][11]. - Future iterations of the TIRD platform will expand into fixed income and wealth management, aiming to create a comprehensive ecosystem for research and investment [12][13]. Group 2: Minsheng Jianyin Fund's Investment Strategy - Minsheng Jianyin Fund's manager Yin Tao adopts a balanced portfolio approach, focusing on companies with strong innovation capabilities and the ability to control their own destinies [14][16]. - Yin emphasizes the importance of independent companies that can thrive without relying on external factors, reflecting a shift towards a "winner-takes-all" market dynamic [17][18]. - His investment strategy includes a focus on high-dividend stocks as a safety net and a dynamic approach to asset allocation based on market conditions [20][21]. - Yin is optimistic about the market's risk appetite increasing, noting that sectors like AI and innovative pharmaceuticals have seen significant fund inflows, indicating a growing confidence in growth stocks [22][24]. Group 3: Guangfa Fund's Multi-Asset Strategy - Guangfa Fund's manager Cao Jianwen highlights the strategic value of multi-asset allocation in a volatile global economic environment, emphasizing the need for in-depth research across various asset classes [25][27]. - The multi-asset framework is built on a factor-based approach, allowing for more precise management and comparison of different assets [28][29]. - Cao's strategy focuses on constructing a resilient portfolio that can adapt to different market conditions, aiming for consistent performance through diversified investments [30][31]. - He identifies the importance of monitoring global economic trends and adjusting asset allocations accordingly, particularly in light of uncertainties in U.S. trade policies and potential geopolitical risks [32][33].