买方投顾、Alpha稀缺、被动投资……公募基金如何迈向高质量发展？王翔、陈晓升、王彦杰、朱永强、张波这样说！

Group 1 - The core viewpoint emphasizes the responsibility of investment advisory firms to help investors make more rational investment decisions, thereby enhancing actual returns [1][6][7] - The discussion highlights the importance of reducing the discrepancy between product returns and investor account returns, with a focus on fee reforms and management practices [6][7] - The need for continuous efforts in investor education to address irrational behaviors is acknowledged, as it is a common phenomenon globally [7] Group 2 - The future of China's public fund industry is seen as having significant growth potential compared to overseas markets, with a focus on building a platform-based research and investment system [9][10] - Large domestic fund companies are expected to shift from asset management to wealth management, while smaller firms should adopt differentiated investment strategies to seek growth [9][10] - The industry is likely to experience a "Matthew Effect," where larger firms gain more advantages, leading to a focus on unique active management capabilities and international investment opportunities [10]