平安基金将关停APP

Core Viewpoint - Ping An Fund announced the migration of its "Ping An Fund" APP services to its official website and WeChat service account, with the APP set to suspend operations on August 31 this year [1][3]. Company Overview - Ping An Fund Management Co., Ltd. was established in January 2011, with a registered capital of 1.3 billion RMB. The company is involved in fund raising, fund sales, asset management, and other businesses licensed by the China Securities Regulatory Commission [3][4]. - The company is a joint venture, with shares held by Ping An Trust Co., Ltd., Dahua Asset Management Co., Ltd., and Sanya Yingwan Tourism Co., Ltd. [3]. Industry Context - Ping An Fund is not the first mid-sized public fund to shut down its APP. In September 2019, Xinda Australia Fund was the first to announce the termination of its APP operations, followed by several other small public funds this year, including Guoshou Anbao, Caitong Fund, and others [4][5]. - The decision to shut down the APP is attributed to the high operational costs associated with direct sales APPs and the low engagement rates from individual investors, which do not justify the expenses [5]. Financial Implications - The operational and maintenance costs for an APP can range from 2 to 3 million RMB annually, while the funds generated through the APP are minimal, leading to a disproportionate investment-to-return ratio [5].