Core Viewpoint - The article emphasizes the importance of long-term investment management, highlighting the rarity of fund managers who have maintained a product for over 10 years and achieved an annualized return of over 10% [1][2]. Group 1: Long-Term Investment Culture - Morgan Asset Management is committed to a "long-distance" investment culture, focusing on long-term value accumulation rather than short-term explosive returns [4][5]. - The company has several active equity funds in China that have been established for over 10 years, achieving annualized returns exceeding 10% [4][5]. - The "Double Ten Fund Manager" concept represents the highest honor for fund managers, indicating both longevity and value creation [2][3]. Group 2: Fund Manager Performance - Morgan Asset Management's active equity investment team has a 20-year annualized stock investment return of 13.50%, ranking in the top 10 of the industry [5]. - The firm has a systematic approach to fund manager evaluation, focusing on long-term performance and providing support during challenging periods [14][15]. - The average tenure of active equity fund managers at Morgan Asset Management China is over 16 years, with nearly 70% of them being internally promoted from research roles [18]. Group 3: Investment Strategy and Benchmarking - Morgan Asset Management employs differentiated performance benchmarks for its funds, allowing for tailored investment strategies based on market conditions [8][9]. - The firm controls tracking error differently based on the investment style, ensuring that fund managers can focus on generating alpha without excessive constraints [9][10]. - The investment process includes regular performance reviews and a structured feedback mechanism to help fund managers optimize their investment behavior [10][11]. Group 4: Global and Systematic Research Platform - Morgan Asset Management invests over $100 million annually in research, maintaining a strong commitment to active management [21]. - The firm has established a unified intelligent research platform in China to enhance communication efficiency among research analysts and fund managers [22]. - A standardized research rating system allows for consistent evaluation of stocks across different industries, aiding fund managers in identifying high-quality investment opportunities [22]. Group 5: Commitment to the Chinese Market - Morgan Asset Management has significantly increased its investment in China, with a focus on understanding the local market dynamics [25]. - The firm aims to grow its Asia-Pacific business to $1 trillion, with China expected to be a major contributor to this growth [24]. - The company has a long-standing presence in the Chinese public fund sector, having established a joint venture in 2004 and transitioning to full ownership in 2023 [25].

Core Viewpoint - The article emphasizes the importance of active management and deep research in asset management, highlighting Morgan Asset Management's commitment to these principles over the past two decades, which has led to sustained performance and investor trust [1][2]. Group 1: Active Management and Investment Culture - Morgan Asset Management has built a strong investment culture and a stable research team, focusing on long-term value rather than short-term gains, which has resulted in consistent performance [1][2]. - The firm has achieved the highest inflow of active management funds globally in 2024, reflecting its successful strategy and investor confidence [1]. Group 2: Research and Team Experience - As of Q2 2023, the average tenure of Morgan's global equity fund managers is approximately 20 years, with many analysts having over 15 years of experience [2]. - The research team has covered around 4,700 companies and conducted nearly 11,000 on-site visits and communications in the past year, providing unique market insights for investment decisions [2]. Group 3: Long-Term Performance - Morgan Asset Management's active equity investment team has maintained a long-term investment culture, focusing on steady growth and avoiding short-term market volatility [3]. - As of August 2025, the annualized return for the company's active equity investment over the past 20 years is 13.03%, ranking in the top 10 of the industry [3]. Group 4: Performance of "Double Ten" Funds - The "Double Ten" funds, which have been established for over 10 years, have shown resilience through various market cycles, achieving annualized returns of over 10% [3][10]. - Specific funds like Morgan Emerging Power Fund and Morgan Core Growth Fund have demonstrated strong performance, with annualized returns of 15.75% and over 11%, respectively [5][7][8]. Group 5: Global Perspective and Research Advantage - Morgan Asset Management has established a robust talent development mechanism, with nearly 70% of its equity fund managers being internally promoted from research roles [11]. - The firm leverages its global platform to access extensive research information, integrating global insights with local market knowledge for informed investment decisions [11]. Group 6: Future Outlook - The recent regulatory push for high-quality development in public funds aligns with Morgan's long-term investment philosophy, suggesting a favorable environment for sustained growth [12]. - Morgan Asset Management aims to continue blending global perspectives with local insights to pursue sustainable value for investors amid China's economic transformation [12].

Core Viewpoint - The article emphasizes the importance of active management and deep research in asset management, highlighting Morgan Asset Management's commitment to these principles over the past two decades, which has led to sustained performance and investor trust [2][3]. Group 1: Active Management and Investment Culture - Morgan Asset Management has built a strong investment culture and a stable research team, focusing on long-term value rather than short-term gains, which has resulted in consistent performance [2][3]. - The average tenure of stock fund managers at Morgan Asset Management is approximately 20 years, with many research analysts having over 15 years of experience, contributing to unique market insights through extensive company research [3][4]. Group 2: Long-Term Performance - As of August 2025, Morgan Asset Management's active equity investment team has achieved an annualized return of 13.03% over the past 20 years, ranking in the top 10 of the industry [5][6]. - The "Double Ten" funds, which have been established for over 10 years and achieved annualized returns exceeding 10%, demonstrate strong resilience through various market cycles [6][18]. Group 3: Fund Performance Highlights - The Morgan Emerging Power Fund has an annualized return of 15.75% since its inception in 2011, while the Morgan China Advantage Fund has achieved a return of 13.51% since 2004 [7][9]. - The Morgan Core Growth Fund and Morgan Technology Frontier Fund have also shown significant returns, with annualized rates of 11.61% and 10.40%, respectively, showcasing the effectiveness of their investment strategies [11][12]. Group 4: Team Development and Global Perspective - Approximately 70% of Morgan Asset Management's equity fund managers are internally promoted, ensuring a cohesive team culture and deep market understanding [14]. - The firm leverages its global platform to access extensive research resources, integrating global insights with local market knowledge to enhance investment decision-making [14][16].