1月7日，睿远基金旗下睿远研选均衡三年持有混合发起式基金发行。据悉，该基金将采用基金经理团队 制管理模式和浮动管理费率。 睿远基金在产品布局上长期保持精品战略，截至目前共管理五只公募基金。睿远研选均衡三年持有混合 发起式基金的发行体现了该公司在探索基金经理团队制管理模式上的决心，采取发起式的设立方式也体 现出其审慎推进的考虑。 根据公告，该基金仅通过睿远基金APP、直销中心等直销平台发行，主要由基金管理人自有资金、公司 员工及认同上述理念并愿长期投资的投资者认购，免收认购费。 资料显示，睿远基金是一家秉承价值投资理念、以持有人长期利益最大化为目标的长期价值投资机构， 聚焦于权益投资和固定收益投资领域，致力于为投资者创造长期价值。 探索基金经理团队制 采取浮动费率 根据发售公告，睿远研选均衡三年持有混合发起式基金是一只偏股混合型基金，主要投资于A股和港 股，股票资产的投资比例为基金资产的60%-95%，其中港股通标的股票投资比例不超过股票资产的 50%。 2025年5月，证监会发布了《推动公募基金高质量发展行动方案》，其中关于强化核心投研能力建设提 出，要建立基金公司投研能力评价指标体系，引导基金公司持续强化人 ...

Core Viewpoint - The team-based management model for fund managers is recognized as a key approach to enhance the research and investment capabilities of public funds in the context of high-quality development [1][2]. Group 1: Implementation and Exploration - The China Securities Regulatory Commission has released an action plan that emphasizes the team-based management model as a crucial part of strengthening the core research and investment capabilities of public funds [2]. - Some fund companies have already begun exploring integrated research practices, with notable examples including the industrialized and intelligent research platform of China Europe Fund and the technology research team integration of Nuoan Fund [2]. - The emergence of a four-person co-management fund, the ICBC Leading Navigator Three-Year Holding Mixed Fund, marks a significant innovation in the fund industry to address the limitations of single-manager strategies [3]. Group 2: Challenges and Coordination - Despite the benefits of co-management, there are significant challenges that need to be addressed, such as unclear role definitions, high coordination costs, and potential decision-making conflicts among fund managers [4]. - Current co-managed funds have not yet demonstrated the "1+1 greater than 2" effect, indicating that the integration of multiple managers may not always lead to improved performance [4][5]. Group 3: Market Dynamics and Competition - Fund managers face significant challenges in a competitive market characterized by a large number of companies and products, which complicates the investment decision-making process [7]. - The rise of passive and quantitative funds has intensified competition for actively managed funds, making it increasingly difficult to generate excess returns [7]. Group 4: Future Development and Mechanism Innovation - The development of the team-based management model requires a higher-level mechanism transformation, which is gradually being implemented [8]. - Effective team-based investment emphasizes risk-return matching and requires fund managers to possess complementary skills, such as macro analysis, industry trends, and risk control [8].

Core Viewpoint - The team-based management model for fund managers is recognized as a crucial approach to enhance the research and investment capabilities of public funds in the context of high-quality development [1][6]. Group 1: Implementation and Exploration - The China Securities Regulatory Commission (CSRC) has proposed an action plan to support the establishment of a team-based management model for fund managers, emphasizing the need for a comprehensive research and investment system [2][6]. - Some fund companies have already begun to explore integrated research practices and the co-management model among fund managers to address the limitations of single-strategy funds [2][5]. - The trend of co-management is increasing, with examples of funds being managed by two or three managers, indicating a shift towards collaborative management [2][5]. Group 2: Advantages of Team-Based Management - Team-based management can enhance the stability of fund performance by leveraging the complementary strengths of different fund managers, thus improving compatibility with various investment styles [3][6]. - The collaborative approach aims to mitigate risks associated with individual fund managers, such as personal biases and the impact of manager turnover on performance [3][6]. Group 3: Challenges and Limitations - Despite the potential benefits, the current co-management model has not yet demonstrated significant advantages, with concerns about decision-making conflicts and unclear responsibilities among managers [4][5]. - The effectiveness of co-management is hindered by the reluctance of established fund managers to share control and the potential for coordination challenges [4][5]. Group 4: Future Directions - The development of a team-based management model requires a fundamental change in the investment research mechanism, emphasizing the need for a structured approach to integrate various analytical strengths [6][7]. - The future of team-based management in public funds will depend on the establishment of a supportive culture and governance framework that encourages collaboration and effective resource allocation [7].

Group 1 - The public fund industry is experiencing a trend of "de-starring," with notable fund managers like Bao Wuke leaving their positions, indicating a shift from the previous "talent promotion" culture [2][6] - As of May 19, 141 fund managers have left their positions this year, surpassing the number from the same period last year, with a total of 361 departures in 2024, marking a 15% increase from 2023 [7] - Regulatory changes encouraging team-based management among fund managers are contributing to this trend, promoting transparency and strategy sharing within teams [6][8] Group 2 - Bao Wuke, a prominent fund manager with 17 years of experience, has officially left Invesco Great Wall Fund, managing assets totaling 16.207 billion yuan, and is recognized for his strong performance [3][5] - The departure of Bao Wuke has raised questions about the future performance of the funds he managed, with his successors now overseeing a total of 10 funds, reflecting a talent shortage in the industry [5][6] - Recent regulatory reforms have increased performance assessment pressures on fund managers, with a focus on long-term performance metrics, leading to a sense of uncertainty among active equity fund managers [7][8]