Core Insights - The article discusses the appointment of Yu Peihua as the new General Manager of BlackRock Fund, highlighting the challenges and opportunities she faces in transforming the company during a critical period [4][9]. - Yu emphasizes the importance of understanding how global asset management firms enhance investor satisfaction, which will be central to BlackRock Fund's future product strategy [6][10]. Group 1: Company Background and Challenges - BlackRock Fund, a subsidiary of the world's largest asset management firm, BlackRock Group, is undergoing a transformation due to historical burdens and product adjustments since its inception over five years ago [4][5]. - The asset management industry has evolved significantly, with the total scale exceeding 30 trillion RMB, contrasting with the earlier challenges faced by the industry [12]. - Yu acknowledges the cyclical nature of investor behavior, where risk and return sensitivities fluctuate, leading to suboptimal investment experiences [12][13]. Group 2: Strategic Focus and Product Development - Yu outlines three priority strategies for BlackRock Fund: systematic active equity strategy, multi-asset absolute return strategy, and distinctive fixed income strategy, all aimed at providing sustainable returns [18][19]. - The company aims to solidify its domestic business while seeking QDII qualifications to offer global asset allocation capabilities to Chinese investors [18][20]. Group 3: Organizational Culture and Values - BlackRock's organizational culture emphasizes respect for individuals and a client-first approach, with a focus on creating sustainable alpha for clients [25][29]. - The company promotes a collaborative environment, encouraging global cooperation among employees to solve problems effectively [26][28]. - Long-term relationships with clients are prioritized, reflecting a commitment to providing continuous wealth returns rather than one-time transactions [29][30]. Group 4: Future Outlook and Industry Trends - The recent regulatory framework aims to shift the focus from institutional development to investor interests, which is seen as a positive step for sustainable growth in the asset management industry [32]. - BlackRock Fund intends to differentiate itself by leveraging its unique advantages while closely monitoring local client needs to provide tailored solutions [34][35].