基金投资顾问服务是指财富管理机构接受投资者委托，根据与投资者约定的基金投资组合策略，代投资者作出具体基金投资品种、数量和买卖时机的决策， 代投资者执行基金产品申购、赎回、转换等交易申请，并直接或间接获取经济利益的服务。基金投资组合策略建议的标的应当为公募基金产品或经中国证监 会认可的同类产品。基金投顾帮助投资者做好预期管理，提升投资者持有体验；采用四笔钱资产配置方案：短期周转、稳健理财、财富增长、保险保障；跟 投、定投或相对合理的持有期等陪伴，让投资者的持有过程更从容。不同基金投顾组合策略，风险等级不一样。投资者需满足相应的风险承受能力才可以签 约相应基金投顾服务。展业机构不可以向投资者隐瞒基金投顾组合策略风险等级，也不得向投资者推荐高于其风险承受能力的基金投顾组合策略。 据了解，"投教领航"投资者教育网络课程第三季是陕西投资者教育领航者联盟第五年举办的公益性投教网络课程。课程旨在进一步帮助投资者了解规则、辨 识风险，持续引导投资者树立理性、价值、长期投资理念，培育理性、成熟的投资者。 本期的课程主题是——公募基金投顾-新型财富管理服务，由中泰证券（600918）股份陕西分公司总经理助理梁贺为各位投资者介绍： ...

Core Insights - The increasing demand for wealth management among residents presents a significant opportunity for fund advisory services [1][2] - Yin Hua Fund has established a comprehensive investment advisory service system to better meet the financial needs of investors [1] Group 1: Company Developments - Yin Hua Fund received pilot qualifications for advisory services in June 2021, enabling it to offer one-stop fund investment advisory services [1] - The company has formed a team of experts from various fields, led by Yang Yu, who has 20 years of experience in finance and the internet [1] - The advisory team includes professionals from funds, securities, banks, and experienced internet investment education specialists [1] Group 2: Service Offerings - Yin Hua Fund's advisory services cover a complete service loop, including in-depth research on fund products, market trends, and allocation strategies [1] - The company provides tailored investment solutions based on client needs, including account management, automatic rebalancing, market insights, investment consulting, and regular account reports [1] Group 3: Strategic Focus - In response to the current low-interest-rate environment, Yin Hua Fund has developed an industrialized "strategy factory" to integrate equity, bond, and quantitative research resources [2] - The company aims to create a solution matrix that addresses various investor needs, such as low volatility, diversification, income generation, and retirement planning [2] - With the enhancement of its professional advisory team and the integration of AI, Yin Hua Fund anticipates a new phase of rapid growth in both scale and quality of its advisory services [2]

Core Insights - Multiple fund subsidiaries have recently been approved and are quickly launching their first business operations, indicating a trend towards differentiated development in the public fund industry [2][5] Group 1: Company Developments - E Fund announced the establishment of its wholly-owned subsidiary, E Fund Wealth Management Fund Sales (Guangzhou) Co., Ltd., with a registered capital of 100 million RMB, focusing on securities investment fund sales [2][5] - The subsidiary aims to provide buy-side investment advisory services and has built a team of over 100 people to support its operations [5] - 华夏基金 has partnered with listed companies to establish the 华夏致远创业投资基金, with a total subscription amount of 35 million RMB, focusing on equity investments in the biopharmaceutical sector [6][8] Group 2: Industry Trends - The establishment of specialized subsidiaries is seen as a response to regulatory encouragement for public fund companies to enhance their core business while achieving differentiated development [5][9] - The trend of multiple fund subsidiaries being approved reflects a broader strategy to enhance comprehensive wealth management capabilities and better serve the wealth management needs of Chinese residents [9] - Other fund companies, such as 汇添富基金, are also exploring investments in the primary market through their subsidiaries, indicating a shift towards a more integrated investment approach [8][9]

Core Viewpoint - The approval of E Fund's wholly-owned subsidiary, E Fund Wealth Management Fund Sales (Guangzhou) Co., Ltd., is expected to inject new vitality into the public fund sales industry and enhance service quality and professionalism among sales subsidiaries [1][3]. Summary by Sections Company Establishment - The China Securities Regulatory Commission (CSRC) has approved E Fund to establish a subsidiary with a registered capital of 100 million yuan, focusing on securities investment fund sales and buy-side investment advisory services [2][4]. - E Fund submitted the application for the subsidiary in May 2023, and after addressing feedback from the CSRC, the approval was granted two years later [2]. Industry Impact - The establishment of E Fund Wealth is seen as a response to policy guidance aimed at promoting high-quality development in the public fund industry, allowing fund management companies to set up subsidiaries for investment advisory services [3][4]. - The approval marks the expansion of the public fund sales subsidiary sector, which now includes nine approved subsidiaries, with E Fund being the latest addition [4][5]. Future Prospects - E Fund Wealth plans to apply for qualifications in fund sales and investment advisory services, aiming to build a comprehensive and intelligent advisory service system for wealth management [3][5]. - The industry is witnessing a surge in applications for public fund subsidiaries, with eight more currently awaiting approval, indicating a trend towards diversification and enhanced competitiveness among public funds [5].

Core Viewpoint - The public fund industry is transitioning towards self-distribution and diversifying its business models in response to declining fee rates and increased competition, with companies like E Fund establishing their own sales subsidiaries to enhance operational efficiency and reduce reliance on third-party sales channels [1][4][6]. Group 1: Establishment of Subsidiaries - E Fund has received approval from the regulatory authority to establish a wholly-owned subsidiary, E Fund Wealth Management Fund Sales (Guangzhou) Co., Ltd., marking it as the ninth fund sales subsidiary in the public fund industry [2][4]. - The new subsidiary will focus on buy-side investment advisory services and has been in the application process for two years, indicating a strategic move towards enhancing service offerings and operational capabilities [3][4]. Group 2: Industry Trends and Competition - The establishment of fund sales subsidiaries is becoming a critical competitive strategy for public fund companies, allowing them to better serve investors and reduce costs amid a trend of fee reductions in the industry [4][6]. - As of now, there are nine approved fund sales subsidiaries, with other major firms like Bosera Fund and China Universal Fund also having established similar entities, indicating a growing trend in the industry [4][5]. Group 3: Future Prospects and Strategic Goals - E Fund aims to build a comprehensive, multi-layered advisory service system leveraging its newly established subsidiary, which is expected to enhance its capabilities in wealth management and investment advisory [6]. - The regulatory environment is supportive of the development of investment advisory services, with recent policies aimed at promoting high-quality growth in the public fund sector, further encouraging firms to innovate and expand their service offerings [6].