Core Insights - The article highlights the significant reforms in China's public fund industry, driven by the China Securities Regulatory Commission's action plan aimed at high-quality development, focusing on fiduciary responsibility and encompassing governance, product innovation, investment operations, and assessment mechanisms [1] - Morgan Asset Management (China) has successfully localized its operations, achieving a non-monetary public fund management scale of 133 billion yuan by Q3 2025, doubling its size in two years and improving its industry ranking by 20 positions, reflecting strong market recognition of its investment management capabilities [1] - The company emphasizes a long-term investment philosophy and has established a robust research-driven culture, which is crucial for generating sustainable alpha for clients [2][6] Company Strategy - Morgan Asset Management (China) has adopted a clear investment research structure, focusing on active management as its core competency, with teams dedicated to growth, balanced growth, and value investments, targeting various risk-return profiles [3] - The firm has identified key investment opportunities in artificial intelligence, leading Chinese manufacturers, and dividend assets, leveraging a dual driver of valuation recovery and earnings growth for structural market opportunities in 2025 [4] - The company has built a systematic talent development mechanism, nurturing fund managers with long-term commitment, evidenced by managers like Du Meng and Li Bo, who have delivered substantial returns over extended periods [4][5] Research and Analysis - Morgan Asset Management promotes a "research compounding" approach, emphasizing the importance of continuous research investment to enhance decision-making quality [6] - The firm has a global research team of 500 analysts, conducting extensive field research and maintaining high-frequency interactions with global teams to integrate local insights with global perspectives [6][7] - A unified research language and framework have been established to facilitate efficient resource sharing and collaboration across regions, enhancing the overall research quality [7] ETF Business Development - Morgan Asset Management has differentiated its ETF offerings by combining active management advantages, becoming the second-largest active ETF issuer globally and leading in net inflows since 2025 [8] - The company has launched 11 ETFs in China, focusing on investor experience and innovative features like quarterly mandatory dividends, catering to various investment strategies [8] - The firm continues to enhance its ETF business by providing localized market insights and strategies through reports and seminars, aiming to support index investors effectively [9] Future Outlook - The asset management industry is expected to increasingly favor long-termism, professional capabilities, and ecosystem collaboration, with Morgan Asset Management committed to refining its practices in investment management, product innovation, and client service [10]