多家千亿公募基金关停APP

Core Viewpoint - The recent announcement by Ping An Fund to suspend its APP operations by August 31, 2025, has sparked significant market attention, indicating a potential shift in the public fund distribution strategy within the industry [1][3]. Group 1: Industry Trends - Several public fund companies, including Guoshou Anbao Fund and Morgan Stanley Fund, have also shut down their APPs this year, suggesting a broader trend in the industry [3][6]. - The closure of APPs by mid-sized public funds reflects the increasing operational and maintenance costs that are difficult to justify against low user engagement and financial returns [3][7]. - As of mid-2025, Ping An Fund's management scale reached 655.4 billion yuan, with a non-monetary scale of 251.7 billion yuan, ranking 24th in the industry [3][7]. Group 2: Operational Challenges - The annual cost of maintaining a fund APP is estimated to exceed 2 million yuan, which includes expenses for technical development and content operations, making it unsustainable for many mid-sized funds [7]. - The user engagement of fund APPs from leading companies is relatively low compared to third-party platforms like Tiantian Fund and Ant Wealth, leading to a significant disparity in active user numbers [3][7]. Group 3: Strategic Responses - Despite some companies exiting the APP market, leading firms are investing in enhancing their APP services to improve user experience and engagement [3][8]. - Recent upgrades to APPs from major funds, such as Nanfang Fund and Yinhua Fund, have resulted in increased user activity, with some reporting a month-on-month growth in active users [8][9]. - The industry is gradually shifting towards a customer-centric approach, focusing on enhancing investor experience and reducing overall fees, which may lead to a restructuring of sales channels [9][11]. Group 4: Future Outlook - The development of direct sales APPs is seen as promising, provided that they focus on delivering investment research insights and comprehensive services to investors [4][10]. - Regulatory frameworks are being established to support the growth of fund advisory services, indicating a potential expansion of the direct sales model in the future [12].