Group 1: Industry Overview - The public fund industry in China has reached a net asset value of 36.25 trillion yuan as of August 2025, marking a historic high and surpassing the 36 trillion yuan milestone for the first time [1] - The China Securities Regulatory Commission (CSRC) released an action plan in May 2025 aimed at promoting high-quality development in the public fund sector, addressing issues such as operational philosophy, functional inadequacies, and uneven development structures [1][6] - The industry is transitioning from a scale-oriented approach to a return-oriented strategy, with an increasing focus on enhancing investment capabilities and optimizing customer experiences [1][6] Group 2: Company Initiatives - Hui'an Fund emphasizes a commitment to investor-centric values, aiming to enhance investor trust and satisfaction through responsible management and governance practices [2][3] - The company has launched various innovative products, including off-market index funds and actively managed equity funds, to cater to diverse investor needs and preferences [3][6] - Hui'an Fund is actively engaged in investor education initiatives, offering programs to improve financial literacy and protect investor rights, thereby fostering a more informed investor base [4][3] Group 3: Research and Investment Strategy - The company is focused on strengthening its core research and investment capabilities, establishing a comprehensive evaluation system for investment research, and promoting a multi-strategy investment approach [6][7] - Hui'an Fund has formed seven specialized investment teams to better capture structural investment opportunities, emphasizing long-term decision-making and risk management [7] - The recent regulatory changes in public fund sales fee management are expected to reshape the industry, focusing on investor interests and transitioning towards a client-oriented business model [7]

Core Insights - The public fund industry in China has reached a record high of 36.25 trillion yuan in net asset value as of August 2025, marking a significant milestone in its development [1] - The China Securities Regulatory Commission (CSRC) has introduced an action plan aimed at promoting high-quality development in the public fund sector, addressing issues such as operational philosophy, structural imbalances, and investor satisfaction [1][7] - Huian Fund emphasizes a commitment to investor-centric principles, aiming to enhance investment capabilities and optimize customer experience [2][3] Industry Development - The public fund industry has evolved significantly over the past two decades, achieving a leap from zero to 36 trillion yuan in assets, while continuously innovating products and services to meet client needs [2] - The industry is transitioning from a scale-oriented approach to a return-oriented strategy, as outlined in the CSRC's action plan [1][7] Product Innovation - Since 2025, Huian Fund has increased the creation of off-market index funds, including those tracking the CSI A500 Index and the CSI Low Volatility Dividend 100 Index, to cater to off-market investors [3] - The company has launched several new actively managed equity funds focused on growth sectors, aiming to capitalize on investment opportunities in technology [3] Investor Education and Protection - Huian Fund prioritizes investor education and protection, implementing various initiatives to promote rational, value, and long-term investment principles among investors [3][4] - The company has introduced educational programs and activities to enhance financial literacy and protect investors' rights [4] Research and Development Capabilities - The action plan emphasizes the need for public funds to strengthen core research and development capabilities, transitioning from scale expansion to capability enhancement [5][6] - Huian Fund is committed to building a comprehensive investment research system, focusing on professional research platforms, systematic investment processes, and a transparent talent evaluation system [6] Future Outlook - Despite the record growth in asset management, the public fund industry faces challenges in achieving high-quality development, necessitating a shift towards a client-oriented business model [7] - Huian Fund aims to enhance its long-term investment return capabilities and support the growth of the real economy and residents' wealth [7]