MSCI全球私募资产主Luke Flemmer表示："该指数的推出是我们致力于提升私募市场透明度与参与度这一使命的重要 里程碑。它体现了 MSCI将高质量数据、世界级研究与指数发行能大相结合的独特优势，拓展了我们的私募资产工具 箱，为投资者提供了更便捷的渠道，以参与、对标以及配置私募资本。" 12月9日，MSCI宣布推出MSCI全球上市股票及私募股权指数(MSCI All Country Public + Private Equity Index)：这一创 新每日指数在统一框架内，整合了公开股票市场与私募股权市场的表现，标志着投资者在评估总股权敞口及衡量整体 投资组合表现方面迎来重大变革。这一指数顺应了投资者资产组合结构的演变趋势，为追踪全球范围内跨公开市场及 私募市场的资产表现树立了全新标准。 新推出的指数结合了 MSCI 的旗舰指数 MSCI 全球可投资市场指数(MSCI ACWI IMI)，以及全新的 MSCI 全球私募股 权指数(MSCI All Country Private Equity Index)：这一综合性策略使该指数能够在统一的全球框架下，同时反映可投资 的上市公司股票表现及由模型测算的私 ...

Win.d 谁能重构 买方机构的Alpha价值链? 48 W 正在通过三重能力跃迁, 将自己锻造成客户不可或缺的 "外部数据决策中枢" 金融市场格局的演变从未止步, 但驱动价值创造的底层逻辑正在重建。 当财报、宏观指标、卖方研报等 传统资讯被充分定价, 当AI模型在历史数据中疯狂"内卷" 真正的超额收益(Alpha), 正加速向另类数据、实时行为痕迹、 产业链深层拓扑迁移。 作为奋战在金融价值前线的精英, 你是否意识到 信息差的主战场已转移 客户的投研团队深陷"数据过剩却洞见荒 芜"的泥潭,他们渴求的已非更多同类数 据,而是能穿透传统信息边界、直击非标 场景、捕捉"未定价脉冲"的独特价值 源。 销售价值的战略跃迁点 你提供的不仅是工具,更是重构客户 Alpha价值链的"外部数据大脑" -- 你 必须成为买方机构在卫星遥感、供应链物 流、消费行为颗粒、全球舆论情绪场等另 类战场中的"首席数据捕手与价值架构 师" 这不再是一场销售竞赛, 而是一次价值链的重塑与共生 真正的销售精英, 从"信息贩运者"到"Alpha信号架构 师" 深度掌握另类数据的采集逻辑、清洗陷阱 与融合路径。 从"响应需求"到"定义决策场景" ...

在 12 月 2 日举办的 " 第 13 届中国责任投资论坛年会 " 上，嘉实基金与 Wind ESG 联合发布《 A 股上市 公司股东大会投票趋势观察：对机构股东参与治理的启示》白皮书。该白皮书以 2023 年以来 A 股市场 股东大会数据为基础，深度剖析股东投票行为特征与机构投资者参与治理的实践路径，为资本市场高质 量发展提供了兼具数据支撑与实操价值的参考依据。 通过对股东参会率、议案异议率、未通过议案等关键指标的实证分析，白皮书揭示了A股市场治理实践 的显著趋势。一方面，机构投资者持股比例越高的公司，股东大会参与度越突出：沪深300、中证500及 基金重仓股三个样本中，今年以来参与股东大会的表决权比例分别达58.7%、52.7%和51.6%，均显著高 于全部A股48.8%的平均出席比例。与之形成对比的是，上述三个样本中参与股东大会表决的中小股东 另一方面，全市场议案异议率呈逐年攀升态势， 2025 年前三季度异议率高于 5% 的议案占比已升至 5.2% ，资产购买与出售、关联交易成为异议率最高的两类议案。从股东类型看，中小股东与港股股东 的异议倾向更为明显：前者对规则设立与修订、担保与财务资助、薪酬与激 ...

Core Insights - LSEG has launched "LSEG Lipper on Snowflake" service to meet the growing demand for fund information among asset management firms, investment advisors, and individual investors [1] - The service provides comprehensive global data coverage, including over 350,000 collective investment products across 80 registered sales markets [1] - LSEG Lipper has over 50 years of experience and is trusted by global investment professionals for its expertise and market insights [2] Comprehensive Coverage - The service covers a wide range of investment products, including mutual funds, closed-end funds, exchange-traded funds, hedge funds, domestic retirement funds, pension funds, and insurance products [1] - It offers access to a historical database of over 500,000 securities, including merged or liquidated funds [2] Customizable Solutions - LSEG provides highly customizable and flexible services that support all major cloud service providers and their regional deployment combinations [2] - The platform integrates ESG and climate metrics into client solutions, making it a reliable source for complex fixed-income analysis [12] AI-Driven Analysis Solutions - The company offers a range of AI-driven analytical tools and models supported by a robust open and scalable infrastructure [8] - These tools help automate complex analysis tasks and provide actionable insights, enhancing competitive advantages for clients [8] Client Interaction and Solutions - LSEG maintains strong relationships with major financial institutions, providing solutions for buy-side and sell-side clients across various functions [16] - The solutions are designed to improve portfolio performance and capture excess returns through automation [17] Risk Management - The company’s data and models assist in identifying interest rate and credit risks at both corporate and portfolio levels, which is crucial for achieving robust financial performance [20]

Core Viewpoint - The legal dispute between Shenzhen Jinmen Finance Technology Co., Ltd. and Xunru Technology (Shanghai) Co., Ltd. centers around allegations of unfair competition, where Xunru is accused of unlawfully using Jinmen's online meeting data without permission, violating market competition order and damaging Jinmen's legitimate competitive interests [1][4][6]. Group 1: Legal Proceedings - The Shanghai Pudong New District People's Court ruled in favor of Jinmen, stating that Xunru's actions constituted unfair competition by exceeding the whitelist mechanism and using meeting data without authorization [1][7]. - The court ordered Xunru to cease the unfair competition behavior, pay Jinmen 4 million yuan in economic damages, and publish a statement to mitigate the negative impact of its actions [8][19]. - The case is currently in the second instance of trial [3]. Group 2: Company Backgrounds - Jinmen, established in 2013, is a leading AI investment research platform that collaborates with 74 brokerage research institutes, focusing on compliance and efficient communication in the financial market [8][12]. - Xunru, founded in 2021, is an AI-driven financial data service provider that aims to enhance the efficiency of institutional investors through AI technology [9][10]. Group 3: Industry Context - The dispute highlights the challenges of using emerging technologies in the financial sector, particularly regarding compliance with regulations and the ethical use of data [10][21]. - The "whitelist" mechanism is crucial for ensuring that only qualified investors access sensitive meeting content, and violations of this mechanism can undermine market integrity [10][22]. - The rise of AI-generated content has led to concerns about the potential for unauthorized dissemination of non-public information, which could disrupt the market ecosystem [10][21]. Group 4: Implications and Reactions - Jinmen's founder expressed frustration over the unauthorized use of their data, likening the situation to "stealing peaches" from a hard-earned investment [1][14]. - The court's ruling is seen as a critical step in protecting the rights of companies in the financial sector against unauthorized data usage [19]. - Jinmen is committed to legal action to safeguard its interests and maintain the integrity of the financial information ecosystem [21][22].

Core Insights - The National Bureau of Statistics has officially released the list of pilot projects for high-quality data set construction for 2025, with the project "Multi-modal High-Quality Data Set Construction for Financial Industry Large Models" successfully selected, co-applied by Hang Seng Electronics and Zheshang Securities [2][3] Group 1: Project Overview - The selected project addresses core challenges in financial vertical large models, including data quality inconsistencies, insufficient interpretability, and difficulties in practical application [3] - The construction path involves data fusion, standardized processing, knowledge modeling, scenario application, and ecological empowerment, aiming to create a high-quality financial data set with high accuracy, timeliness, and coverage [3] Group 2: Company Background - Hang Seng Electronics has over 30 years of experience in capital market information technology, providing top-tier technology and product services to various financial institutions [3][4] - Hang Seng Data Service, a subsidiary, has extensive experience in financial data collection, cleaning, structured processing, and deep mining, serving nearly a thousand institutions [4] Group 3: Future Plans - Moving forward, Hang Seng Electronics and Hang Seng Data Service will leverage this pilot project to focus on high-quality data set construction for the financial industry, supporting the integration of large model technology into financial business scenarios [5]

Core Insights - Forge Global Holdings, Inc. (NYSE:FRGE) is set to release its quarterly earnings on November 14, 2025, with Wall Street expecting an EPS of -$1.01 and revenue of approximately $24.1 million [1][6] Financial Metrics - The company has a price-to-earnings (P/E) ratio of -8.28, indicating negative earnings, and an earnings yield of -12.07%, showing it is not generating positive earnings for shareholders [2][6] - FRGE's price-to-sales ratio is about 6.64, suggesting investors are willing to pay $6.64 for every dollar of sales, reflecting confidence in the company's sales potential despite earnings challenges [3] - The enterprise value to sales ratio is 6.20, providing a perspective on the company's valuation relative to its sales [3] Financial Health - The debt-to-equity ratio is 0.076, indicating a conservative approach to leveraging, suggesting the company is not heavily reliant on debt [4][6] - A current ratio of approximately 3.98 points to strong short-term financial health, ensuring the company can meet its immediate obligations [4][6] - The enterprise value to operating cash flow ratio of -16.40 indicates negative operating cash flow, which could be a concern for investors [5]

Core Insights - The article emphasizes the increasing importance of future dividends in trading strategies, portfolio management, and risk management for institutional investors focusing on the Chinese market, especially as regulatory bodies encourage more stable and frequent dividend policies to support stock prices and boost investor confidence [1][3]. Model Overview - Bloomberg Dividend Forecast (BDVD) combines three core driving factors to assess and predict dividend payments, integrating both quantitative and qualitative key factors while backtesting dividend payment dates to identify patterns [3]. - The dividend amount model considers company fundamentals, debt structure, management comments, and dividend policies, along with additional calculation factors that comply with the latest regulations from the China Securities Regulatory Commission [3][4]. Data Access and Delivery - BDVD data is accessible through Bloomberg Terminal and Data License services, allowing for enterprise-level and scalable data access [6]. - Two delivery methods are offered: bulk delivery for complete datasets and per security delivery for specific data needs, including detailed predictions for dividends, announcement dates, ex-dividend dates, and payment dates [10][11]. Applications for Sell-Side Institutions - Sell-side analysts can utilize BDVD data to validate dividend hypotheses, enhancing the accuracy of stock research and industry outlooks, while also showcasing improvements in Chinese corporate dividend policies to attract global capital [10]. - Accurate dividend predictions are crucial for derivatives trading teams, as dividends directly impact options pricing, index futures, and structured products [10]. Applications for Buy-Side Institutions - Buy-side institutions can leverage BDVD data to enhance dividend strategies and optimize investment performance, with evidence showing that companies predicted to have the highest future dividend growth outperformed those with the highest actual dividend growth [19]. - Portfolio managers can adjust holdings to favor companies with stable or growing dividends and conduct scenario stress tests to assess cash flow risks and potential return volatility [21][22]. Global Coverage and Forward-Looking Capability - BDVD products provide comprehensive global solutions for dividend amount and payment date predictions, covering nearly 99% of companies with a continuous or active dividend record [23][24]. - The product offers extensive historical data, enabling investors to obtain reliable forward-looking insights on future dividends, supporting diverse applications from strategy development to risk assessment [24][27].

Core Viewpoint - Wind Information Technology Co., Ltd. is a leading financial data, information, and software service provider in mainland China, aiming to make data easily accessible globally [2]. Group 1: Company Overview - Wind is headquartered in the Lujiazui Financial Center in Shanghai and focuses on sharing data and maximizing its value [2]. - The company is well-regarded in the financial information and services sector, with a global presence and applications of AI large models, making it popular among various financial institutions such as brokerages, banks, and fund companies [5]. Group 2: Job Opportunities - Wind is seeking not just account managers but partners to explore value boundaries together [5]. - The roles involve completing the full lifecycle of customer sales and service, uncovering business value, driving product iterations based on customer value, and applying AI in finance to address client pain points [8]. Group 3: Candidate Requirements - Candidates should have a bachelor's degree or higher, preferably in finance, economics, or management, along with relevant sales experience [9]. - Key skills include sharp customer insights, market development capabilities, self-discipline, effective communication, a willingness to learn, and high emotional intelligence [9]. Group 4: Career Development - Joining Wind offers access to a leading industry platform, opportunities to work at the forefront of finance and AI applications, and collaboration with top institutions [11]. - The company provides a rapid growth path through systematic training, practical exercises, and mentorship to help individuals become industry experts [11]. - There are opportunities for global rotation in core financial centers, broadening career development potential [13].

Group 1 - The A-share market in China experienced a significant increase on October 29, with major indices closing in the green, marking a ten-year high for the Shanghai Composite Index, which closed at 4016 points, up 0.7% [1] - The Shenzhen Component Index closed at 13691 points, up 1.95%, and the ChiNext Index closed at 3324 points, up 2.93% [1] - The total trading volume in the Shanghai and Shenzhen markets reached approximately 22.56 billion RMB, an increase of about 1.082 billion RMB compared to the previous trading day [1] Group 2 - The "14th Five-Year Plan" emphasizes significant improvements in self-reliance in technology, with a focus on enhancing the overall effectiveness of the national innovation system and fostering a development pattern that integrates education, technology, and talent [2] - Key sectors such as lithium mining, fourth-generation semiconductors, quantum technology, and superconductivity saw notable gains, with respective increases of 4.02%, 2.9%, 2.88%, and 2.7% [2]