Core Viewpoint - The article discusses the ongoing transformation of collective asset management plans into public funds, indicating a significant shift in the asset management industry towards compliance with public fund standards [1][6]. Group 1: Transformation of Asset Management Plans - Starting from July 22, 2023, nine collective asset management plans under CITIC Securities Asset Management have officially changed their management to Huaxia Fund, transitioning to public fund status [2][3]. - Other institutions like Dongwu Securities, GF Asset Management, and Guoyuan Securities have also converted their collective asset management plans into public funds, indicating a broader trend in the industry [2][4]. - The transformation process began in late 2018, with a regulatory push for collective asset management products to align with public fund management standards by December 31, 2020 [6][8]. Group 2: Types of Funds Created - The nine public funds resulting from the transformation include four bond funds with varying holding periods and four mixed funds, along with one quantitative stock fund [4]. - Fund managers for these new public funds include professionals such as Wu Fan and Jing Boling, indicating a shift in management personnel alongside the structural changes [4]. Group 3: Regulatory Context and Industry Trends - The transformation aligns with the China Securities Regulatory Commission's (CSRC) guidelines, which have influenced the pace and nature of these changes in the asset management sector [6][7]. - The approval process for public fund qualifications has slowed down since 2024, prompting some firms to expedite the transition of their collective asset management products to public fund status [7][10]. - As of now, there are still over 140 collective asset management plans in the market, with a total scale of approximately 340 billion yuan, indicating that the transformation process is nearing completion but not yet fully realized [8][10].