21世纪经济报道记者李域 实习生陈丽华 千亿级公募基金公司退出APP直销业务引发市场关注。 近日，平安基金发布公告，宣布将于2025年8月31日起暂停"平安基金"APP的运营和维护，其主要功能 将整合至官方网站及微信公众号。未来是否恢复运营，将视情况另行通知。 基金公司关掉APP直销渠道并非个例。今年以来，国寿安保基金、摩根士丹利基金、前海开源基金等多 家公募先后关停APP。为何平安基金此举引发市场热议？ 在业内人士看来，一家颇具规模的基金公司关停 APP，会给行业传递出信号，引发行业对公募渠道策 略转变的关注。Wind数据显示，截至2025年上半年末，平安基金管理规模达6554亿元，其中非货规模 2517亿元，非货规模行业排名第24位。 实际上，中小基金在APP直销业务上面临运营维护费用高、长期投入却难以覆盖成本等压力。这使得近 年来公募直销APP迎来了关停潮，现在已从百亿级小公募蔓延至千亿级的中型公募。 易观千帆统计显示，易方达、华夏、汇添富、嘉实、南方等头部基金公司APP的用户活跃度相对较高， 但与天天基金、蚂蚁财富这类第三方机构APP的活跃人数相比还存在明显差距，而且APP带来的资金量 很小，投入与产 ...

Core Viewpoint - The recent announcement by Ping An Fund to suspend its APP operations by August 31, 2025, has sparked significant market attention, indicating a potential shift in the public fund distribution strategy within the industry [1][3]. Group 1: Industry Trends - Several public fund companies, including Guoshou Anbao Fund and Morgan Stanley Fund, have also shut down their APPs this year, suggesting a broader trend in the industry [3][6]. - The closure of APPs by mid-sized public funds reflects the increasing operational and maintenance costs that are difficult to justify against low user engagement and financial returns [3][7]. - As of mid-2025, Ping An Fund's management scale reached 655.4 billion yuan, with a non-monetary scale of 251.7 billion yuan, ranking 24th in the industry [3][7]. Group 2: Operational Challenges - The annual cost of maintaining a fund APP is estimated to exceed 2 million yuan, which includes expenses for technical development and content operations, making it unsustainable for many mid-sized funds [7]. - The user engagement of fund APPs from leading companies is relatively low compared to third-party platforms like Tiantian Fund and Ant Wealth, leading to a significant disparity in active user numbers [3][7]. Group 3: Strategic Responses - Despite some companies exiting the APP market, leading firms are investing in enhancing their APP services to improve user experience and engagement [3][8]. - Recent upgrades to APPs from major funds, such as Nanfang Fund and Yinhua Fund, have resulted in increased user activity, with some reporting a month-on-month growth in active users [8][9]. - The industry is gradually shifting towards a customer-centric approach, focusing on enhancing investor experience and reducing overall fees, which may lead to a restructuring of sales channels [9][11]. Group 4: Future Outlook - The development of direct sales APPs is seen as promising, provided that they focus on delivering investment research insights and comprehensive services to investors [4][10]. - Regulatory frameworks are being established to support the growth of fund advisory services, indicating a potential expansion of the direct sales model in the future [12].

博时、兴证全球APP上半年月活跃用户均减少超1万。南方基金、广发基金、中欧财富、汇添富现金 宝、鹏华A加钱包等APP也均出现不同程度下滑。 具体来看，广发基金APP在短暂触及8万月活跃用户后回落，上半年减少0.35万；汇添富现金宝从13.07 万的高点持续下滑至7.73万，或逼近盈利临界点；鹏华A加钱包月活跃用户仅余0.59万，日均活跃用户 不足两千；博时基金APP上半年月活跃用户减少1.78万，按最新2.03万的基数计算，前景不容乐观。 相比之下，券商类APP的同期月活数以"几十万"为底线，最差也在这一量级之上。 近日，平安基金宣布终止旗下APP运营，成为基金行业又一家选择关闭移动客户端的公司。自2019年信 达澳亚基金率先终止APP运营以来，中小公募基金公司缩减自营APP的趋势逐渐显现。过去一年间，前 海开源基金、国寿安保基金、财通基金、光大保德信基金、长盛基金等多家公募也已陆续关停其独立 APP业务。 净值萎缩、月活跃用户（MAU）下滑、运营规模过低，已成为基金APP面临的普遍压力。早期，基金 公司建设自有APP旨在掌握客户与数据，减少对第三方代销渠道的依赖。然而，当前情况已发生显著变 化——高昂的技术 ...