量化指增，占据下一个C位？

Core Viewpoint - The article emphasizes the rapid growth and potential of index-enhanced funds in the public fund industry, driven by regulatory support and technological advancements, particularly in AI, which enhances the ability to achieve stable excess returns [1][2]. Industry Overview - The public fund industry is undergoing transformation due to ongoing high-quality development, with new regulations impacting the landscape of bond funds and active equity funds [1]. - As of November, 160 new index-enhanced funds have been established in 2023, with a total issuance scale nearing 90 billion, reflecting a 23.34% increase compared to the end of the previous year [2]. Company Performance - Tianhong Fund has significantly expanded its index-enhanced business, with a 44.85% increase in market share and a 70.21% increase in scale compared to the end of last year [3]. - Over 90% of investors holding Tianhong's index-enhanced products for more than six months have outperformed the corresponding fund performance benchmarks [3][12]. Product Line and Strategy - Tianhong Fund has developed a comprehensive product line in index enhancement, including both broad-based and industry-specific funds, with a total of 18 quant index-enhanced funds managing over 12 billion [3][5]. - The company has launched two product lines: one focusing on long-term excess returns and the other on stable excess returns with a higher success rate [5][6]. Performance Metrics - Tianhong's index-enhanced products have shown consistent excess returns, with the Tianhong CSI 1000 Index Enhanced Fund achieving a 33.80% excess return compared to its benchmark over three years [8][11]. - The performance of Tianhong's broad-based index-enhanced products has been notably consistent, attributed to a unified quantitative management framework [10]. Technological Integration - Tianhong Fund has integrated AI technology into its quantitative investment strategies, with over 70% of excess factors derived from AI learning [14][19]. - The company employs a diverse and systematic approach to its quantitative research, utilizing advanced algorithms and a comprehensive factor network to enhance investment decision-making [15][20]. Market Position - Tianhong Fund ranks fifth in the industry for the number of users in index-enhanced funds, with over 910,000 users as of June, and maintains a leading position in terms of individual investor holdings [21].