Core Insights - The public fund industry in China is undergoing a significant transformation from a star-driven model to a platform-based operation, with total assets reaching 33.74 trillion yuan by May 2025, marking a historical high [1] - The China Securities Regulatory Commission (CSRC) has issued a plan to promote high-quality development in public funds, emphasizing the need for a "platform-based, integrated, multi-strategy" research and investment system [1] Industry Challenges - The active equity investment research system faces five core pain points: over-reliance on individual fund managers, lack of systematic management mechanisms, ineffective management tools for star managers, misalignment of talent assessment and incentive mechanisms, and absence of digital talent training [3] - The industry is challenged by market volatility and intense competition, leading to instability in excess returns, prompting a shift towards reducing dependence on individual capabilities for sustainable operations [3] Transformation Initiatives - Fund companies are responding to the CSRC's action plan by leveraging AI and big data to build research and investment platforms, initiating a wave of "three transformations" (professionalization, standardization, and digitalization) [4] - Companies like China Europe Fund are integrating industrialization concepts into their research systems, focusing on specialized roles and standardized processes to enhance efficiency [4] Technological Advancements - Emerging technologies such as AI and big data are becoming the foundation for building next-generation research and investment platforms [5] - For example, Fortune Fund has developed an intelligent research system that integrates data, algorithms, and computing power, significantly improving research efficiency and reducing the time for investment decision-making [5]