在北京公募基金高质量发展系列活动开展期间，为深入贯彻落实《推动公募基金高质量发展行动方案》 要求，惠升基金积极开展了公募高质量发展主题客户沙龙活动，为投资者讲解公募高质量发展相关政策 与对投资者的影响。 本次沙龙活动中，惠升基金向投资者重点解读，"公募基金高质量发展是从重规模向重投资者回报转 型"，力争增强投资者对公募基金行业的信任感。 专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 投资者信任是行业发展的基石。需建立"全周期陪伴"体系：售前精准匹配风险偏好，做好投资者教育； 售中通过图文等多种喜闻乐见的形式传递长期理念；售后定期披露产品相关信息。本次沙龙活动旨在通 过投资者教育与陪伴，用专业赢得投资的信任。 公募基金作为连接资本市场与居民财富的枢纽，其高质量发展关系亿万投资者福祉。惠升基金将继续 将"投资者利益至上"的理念融入每一次研究、每一次服务、每一次决策，并积极为投资者解读最新市场 咨询，以专业为支撑，用长期主义的坚守与务实高效的行动，共同书写基金行业高质量发展的新篇章。 责任编辑：江钰涵 ...

10月16日，博时基金发布高级管理人员变更公告，经博时基金第九届董事会2025年第五次临时会议决 议，同意江向阳先生因工作安排辞任公司董事长。博时基金党委书记、总经理张东正式接任该公司董事 长，同时自10月15日代为履行公司总经理职务，高管人员平稳过渡。 在10月16日举行的博时基金2025年第四季度投资联席会议上，张东首次以新任董事长身份亮相，系统阐 述了他对博时基金未来发展的战略思考。他表示，在推进公募基金高质量发展的过程中，博时基金一是 做客户价值的创造者；二是做投资价值的发现者；三是做"高质量发展"的引领者；四是做"金融强国"的 建设者。 业内人士认为，此次博时基金高级管理人员实现平稳交接，是该公司一贯稳健经营风格的体现。在公募 基金行业生态深刻变革、市场竞争进一步加剧的背景下，张东在金融和财富管理等领域积累的深厚发展 经验，有利于进一步发挥博时基金资源禀赋，为该公司未来的高质量发展增添优势。 在高层平稳过渡的同时，博时基金的业绩表现同样亮眼。近年来，该公司在持续巩固发挥固收优势的基 础上，权益业绩也得到明显提升。根据中国银河（601881）证券数据统计，过去两年(2023年9月1日— 2025年8月 ...

Core Viewpoint - The article discusses the "Action Plan for Promoting the High-Quality Development of Publicly Offered Funds," which aims to systematically reduce costs for investors and enhance investment returns through a series of fee reforms [1] Group 1: Fee Reduction Measures - The first phase of the fee reform focuses on lowering management fees and custody fees for actively managed equity funds, reducing rates from 1.5% to 1.2% and from 0.25% to below 0.2% respectively [2] - The second phase involves reducing the commission rates for stock trading, with limits set on the distribution of trading commissions for fund managers, ensuring that passive equity funds do not exceed the average market trading commission rate [2] Group 2: Direct Benefits to Investors - Subscription fees for equity, mixed, and bond funds have been significantly reduced, with new upper limits set at 0.8%, 0.5%, and 0.3% respectively, representing a decrease of approximately one-third to two-thirds from previous levels [3] - The new regulations eliminate sales service fees for shares held longer than one year (excluding money market funds), encouraging long-term investment and further reducing holding costs for investors [3] Group 3: Redemption Fee Mechanism Optimization - The redemption fee structure has been simplified to better protect the interests of long-term holders, with fees now fully allocated to the fund's assets, compensating remaining investors for costs incurred due to redemptions [4] Group 4: Sales Behavior Regulation - The proposal prohibits "double charging," requiring investment advisory firms to choose between charging advisory fees or client maintenance fees, promoting a focus on value creation for investors [5] - Strict regulations against improper benefit transfers are enforced to ensure that sales recommendations prioritize investor needs rather than commission incentives [5] - The cumulative effect of these reforms is projected to save investors over 50 billion yuan annually, marking a significant shift from a "channel-driven" to a "service-driven" industry model [5]

专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 为积极响应北京辖区"新时代・新基金・新价值"公募基金高质量发展行动号召，10月14日，泰康基金、 嘉实基金、国联基金、中邮基金、度小满五家在京金融机构齐聚北京市朝阳区芍药居社区，联合开 展"金融知识进社区"健康财富知识竞赛活动。活动以趣味竞赛为抓手，将专业金融知识转化为通俗易懂 的实用内容，致力于提升社区居民金融素养，守护居民财富安全，彰显金融机构践行普惠金融的责任担 当。 此次活动是9月多家机构社区投教活动的延续与升级，精准聚焦社区居民核心需求，尤其关注老年群体 的养老财富管理与风险防范意识提升。活动现场，"新时代・新基金・新价值"主题展架醒目陈列，通过 图文结合的方式，深入解读公募基金高质量发展行动方案的核心目标与精神内涵。《公募基金基础知识 手册》《养老财富风险防范指南》等宣传资料整齐摆放，工作人员主动上前，热情地向过往居民发放资 料，并耐心讲解其中的关键内容，吸引众多居民驻足咨询，让金融知识在社区中"活"了起来。 2025年10月15日 MACD金叉信号形成，这些股涨势不错！ 责任编辑：江钰涵 拆解复杂概念，为参赛队伍答疑解惑，不仅助力各小 ...

Group 1 - The core theme of the event is "New Era, New Fund, New Value," aimed at promoting high-quality development in the public fund industry in Beijing [3] - The initiative is guided by the Beijing Securities Regulatory Bureau and involves collaboration with various stakeholders, including fund managers, sales institutions, evaluation agencies, and mainstream media [3] - The activities will span over a month and focus on enhancing investor education and protection, facilitating the transformation and upgrading of the public fund industry, and improving its service capabilities to the real economy [3] Group 2 - Huashang Fund is actively promoting financial and investment knowledge, advocating for long-term and rational investment concepts, and enhancing public awareness of risk prevention [3] - The event aims to create a new brand for high-quality financial development in Beijing [3]

Group 1: Industry Overview - The public fund industry in China has reached a net asset value of 36.25 trillion yuan as of August 2025, marking a historic high and surpassing the 36 trillion yuan milestone for the first time [1] - The China Securities Regulatory Commission (CSRC) released an action plan in May 2025 aimed at promoting high-quality development in the public fund sector, addressing issues such as operational philosophy, functional inadequacies, and uneven development structures [1][6] - The industry is transitioning from a scale-oriented approach to a return-oriented strategy, with an increasing focus on enhancing investment capabilities and optimizing customer experiences [1][6] Group 2: Company Initiatives - Hui'an Fund emphasizes a commitment to investor-centric values, aiming to enhance investor trust and satisfaction through responsible management and governance practices [2][3] - The company has launched various innovative products, including off-market index funds and actively managed equity funds, to cater to diverse investor needs and preferences [3][6] - Hui'an Fund is actively engaged in investor education initiatives, offering programs to improve financial literacy and protect investor rights, thereby fostering a more informed investor base [4][3] Group 3: Research and Investment Strategy - The company is focused on strengthening its core research and investment capabilities, establishing a comprehensive evaluation system for investment research, and promoting a multi-strategy investment approach [6][7] - Hui'an Fund has formed seven specialized investment teams to better capture structural investment opportunities, emphasizing long-term decision-making and risk management [7] - The recent regulatory changes in public fund sales fee management are expected to reshape the industry, focusing on investor interests and transitioning towards a client-oriented business model [7]

Core Viewpoint - The public fund industry is undergoing a deep adjustment centered on benchmark reconstruction, driven by the "Action Plan for Promoting High-Quality Development of Public Funds" implemented since May 7, 2025. This adjustment reflects a shift from scale expansion to quality improvement, emphasizing the importance of benchmarks in defining product positioning and investment strategies [2][3]. Group 1: Benchmark Adjustment Overview - Since the implementation of the "Action Plan," 57 funds have initiated benchmark adjustments, with bond and mixed funds being the primary focus, each accounting for 18 funds, representing over 63% of the total adjustments. Stock funds follow with 14 adjustments, while FOF products have 5, indicating a concentrated effort in high market share and complex strategy fund types [6][8]. - The adjustments are characterized by a shift from broad indices to more targeted indices, such as moving from the "CSI All Bond Index" to the "China Bond Composite Index," which allows for a more accurate reflection of the fund's investment characteristics and risk-return profile [9][10]. Group 2: Specific Fund Adjustments - Notable examples of benchmark changes include the "浦银安盛稳健增利债券" fund, which changed its benchmark from "CSI All Bond Index 100%" to a combination of "China Bond Composite (Full Price) Index Yield 85% + CSI Convertible Bond Index Yield 5% + Bank Demand Deposit Rate (after tax) 10%" [9]. - The adjustments also reflect a trend of incorporating various yield factors, such as including bank deposit rates in benchmarks, which enhances the relevance of the benchmarks to the funds' investment strategies and risk profiles [10][20]. Group 3: Mixed and Stock Fund Adjustments - Mixed and stock funds are also adjusting their benchmarks to better align with their investment strategies, moving from broad indices like the "CSI 300" to more specific indices that reflect their investment focus, such as the "CSI Sports Industry Index" and "CSI TMT Industry Theme Index" [14][16]. - The adjustments aim to resolve the mismatch between benchmarks and strategies, ensuring that the benchmarks accurately reflect the funds' investment characteristics and risk-return profiles [15][17]. Group 4: Risk and Liquidity Management - Funds are adjusting their fixed income or cash components in benchmarks to balance risk and liquidity needs. High equity proportion funds are replacing bond indices with bank demand deposit rates to meet liquidity management requirements, while low equity proportion funds are adjusting bond index weights to align with their risk profiles [20][21].

Core Insights - The public fund industry in China has reached a record high of 36.25 trillion yuan in net asset value as of August 2025, marking a significant milestone in its development [1] - The China Securities Regulatory Commission (CSRC) has introduced an action plan aimed at promoting high-quality development in the public fund sector, addressing issues such as operational philosophy, structural imbalances, and investor satisfaction [1][7] - Huian Fund emphasizes a commitment to investor-centric principles, aiming to enhance investment capabilities and optimize customer experience [2][3] Industry Development - The public fund industry has evolved significantly over the past two decades, achieving a leap from zero to 36 trillion yuan in assets, while continuously innovating products and services to meet client needs [2] - The industry is transitioning from a scale-oriented approach to a return-oriented strategy, as outlined in the CSRC's action plan [1][7] Product Innovation - Since 2025, Huian Fund has increased the creation of off-market index funds, including those tracking the CSI A500 Index and the CSI Low Volatility Dividend 100 Index, to cater to off-market investors [3] - The company has launched several new actively managed equity funds focused on growth sectors, aiming to capitalize on investment opportunities in technology [3] Investor Education and Protection - Huian Fund prioritizes investor education and protection, implementing various initiatives to promote rational, value, and long-term investment principles among investors [3][4] - The company has introduced educational programs and activities to enhance financial literacy and protect investors' rights [4] Research and Development Capabilities - The action plan emphasizes the need for public funds to strengthen core research and development capabilities, transitioning from scale expansion to capability enhancement [5][6] - Huian Fund is committed to building a comprehensive investment research system, focusing on professional research platforms, systematic investment processes, and a transparent talent evaluation system [6] Future Outlook - Despite the record growth in asset management, the public fund industry faces challenges in achieving high-quality development, necessitating a shift towards a client-oriented business model [7] - Huian Fund aims to enhance its long-term investment return capabilities and support the growth of the real economy and residents' wealth [7]

Group 1 - The event aimed to promote financial knowledge and rational investment concepts among youth, aligning with the "New Era, New Fund, New Value" initiative for high-quality development in the public fund industry [1][3] - The event featured a presentation by Zhang Yilin from Jianxin Fund, focusing on the significance of technology innovation in driving high-quality development and the investment value of technology innovation indices [2][3] - The public fund industry in China is entering a critical phase of deepening reforms and enhancing efficiency, with a focus on improving investment capabilities and optimizing customer experience [3] Group 2 - The event included interactive Q&A sessions, allowing students to engage with fund managers and discuss career development, thereby bridging the gap between theoretical learning and investment practice [2][3] - The initiative is supported by the Beijing Securities Regulatory Bureau and involves over forty public fund management firms, aiming to enhance investor education and protection while promoting the transformation of the public fund industry [3]

在北京证监局指导下，北京证券业协会汇聚四十余家基金管理人、销售及评价机构与主流媒体，共同开 启以"新时代·新基金·新价值"为主题的"北京公募基金高质量发展系列活动"。活动旨在强化投资者保 护，推动行业转型升级，提升服务实体经济质效，最终为北京构筑一张彰显高质量发展内涵的金融新名 片。 为深入践行活动倡议，近期国新国证基金先后走进2025年中国国际服务贸易交易会、北京西城区金融街 购物商圈、什刹海社区养老集市等多元化场景，构建起覆盖国际展会、核心商圈、社区生活的立体化投 资者保护网络，以实际行动诠释行业责任担当。 在2025年中国服贸会现场，国新国证基金面向来自全球的投资者展示中国公募基金业的专业形象，分享 公募基金行业的发展成果与创新实践，向公众传递公募基金高质量发展新理念。在展位现场，工作人员 通过多媒体展示、互动体验和专业咨询等多种形式，为参观者生动讲解金融常识及反洗钱知识。 专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 当前，公募基金行业已步入从高速增长迈向高质量发展的关键阶段。作为资本市场与居民财富的核心支 柱，其使命已超越自身发展，关乎国家战略落地与民众财富福祉。推动实现公募基金行业 ...