Core Viewpoint - The article emphasizes the importance of preparing for retirement through a multi-tiered pension system in China, highlighting the role of public funds, particularly ICBC Credit Suisse Asset Management, in connecting the pension system with public needs [1][2]. Group 1: Strategic Development - ICBC Credit Suisse has been committed to supporting the national pension system since entering the field in 2007, establishing a comprehensive service system covering the three pillars of pensions [2]. - The company achieved a significant milestone in 2010 by obtaining the qualification to manage domestic investments for the National Social Security Fund, marking the beginning of its pension management journey [2]. - In 2016, ICBC Credit Suisse was selected as one of 21 managers for the Basic Pension Insurance Fund's securities investment management, solidifying its foundation in the first pillar of pension management [2]. Group 2: Second Pillar Development - ICBC Credit Suisse was an early explorer in the enterprise annuity and occupational annuity sectors, obtaining the qualification for enterprise annuity investment management in 2007 and launching its first account in 2008 [3]. - The company has developed a unique investment and sales model that integrates investment management and sales, enhancing management efficiency through a "main investment manager responsibility system" [3]. - In 2016, the establishment of the Annuity Investment Committee further strengthened account management consistency and ensured alignment with long-term stable funding attributes [3]. Group 3: Third Pillar Expansion - With the implementation of personal pension policies, ICBC Credit Suisse has fully developed its personal pension product line, creating a comprehensive product system that meets diverse retirement savings needs [3]. - The company currently offers 10 pension target funds, with 9 having established Y-class shares, covering major retirement age ranges and various risk levels [3][4]. Group 4: Investment Performance - ICBC Credit Suisse adopts a distinctive investment style focused on "valuing equity and high credit," aiming for stable returns through high-grade credit asset allocation and equity assets for excess returns [5]. - The company has demonstrated strong investment capabilities in the second pillar, with its single plan's cumulative return rate reaching 10.67% over three years, outperforming industry averages [5]. - In the personal pension sector, ICBC Credit Suisse's Y-class share scale reached 14.55 billion yuan by the end of Q3 2025, reflecting a 93.9% growth compared to the previous year, the highest among peers [5]. Group 5: Investment Management Framework - ICBC Credit Suisse has established a systematic and institutionalized investment research and risk control framework to support its pension management, focusing on platformization, integration, and team collaboration [8][9]. - The company has built a comprehensive research and investment structure covering various asset classes, supported by intelligent investment research systems and risk control platforms [8]. - The Annuity Investment Committee is responsible for formulating unified investment strategies, ensuring alignment with long-term investment goals while allowing for tactical adjustments based on market conditions [9]. Group 6: Future Outlook - The article highlights the importance of personal pensions in addressing income gaps, encouraging investors to adopt a rational, long-term investment approach [10]. - ICBC Credit Suisse aims to provide comprehensive pension solutions that cater to different life stages, ensuring that proactive planning and secure retirement become a reality for more individuals [10].

Group 1 - The core viewpoint of the news is the announcement of new regulations regarding personal pension withdrawals, which will enhance the flexibility of the personal pension system and cater to diverse participant needs starting from September 1 [1] - The new regulations introduce three additional scenarios under which individuals can withdraw their personal pensions, expanding the previous criteria [1] - The personal pension system is highlighted for its advantages over the first and second pillars of retirement savings, including tax benefits, superior investment products, and dedicated usage of funds [1] Group 2 - ICBC Credit Suisse Asset Management is noted as a pioneer in domestic pension investment, having established a comprehensive range of pension investment products, including 13 personal pension Y shares as of August 19, 2025 [2] - The company offers a one-stop pension investment solution through its target date funds, which cover retirement years from 2035 to 2060, allowing investors to benefit from a lifecycle-matched investment service without needing to actively manage their investments [2] - The target risk funds are designed to cater to different risk preferences, enabling investors to select options that align with their risk tolerance and investment capabilities [2] Group 3 - Data from the second quarter of 2025 indicates that six out of twelve personal pension Y shares from ICBC Credit Suisse achieved returns exceeding 6% in the past six months, with the ICBC Pension 2050 Y share reaching a return of 14.59% [3] - Over a one-year period, all eight comparable personal pension Y shares achieved returns over 9%, with the ICBC Pension 2050 Y share yielding 20.63% [3] - The adjustment in personal pension withdrawal scenarios coincides with the Shanghai Composite Index reaching a nearly ten-year high, emphasizing the investment value of personal pension Y shares [3]

Core Viewpoint - The domestic public FOF (Fund of Funds) market is experiencing a resurgence in issuance and product structure diversification, reflecting increasing investor recognition of these products as A-share indices stabilize and recover [1] Group 1: Market Performance - As of the end of Q1 2025, the total scale of domestic FOF funds increased by 13.46% to 1510.8 billion yuan, with 86% of FOF funds achieving positive returns, particularly in equity-oriented FOFs [1] - By June 4, 2025, the scale further grew to 1618.52 billion yuan, with leading performance from funds managed by ICBC Credit Suisse, Qianhai Kaiyuan, Tongtai, and Penghua [1][2] - The FOF market is being driven by institutional investors accelerating their layouts, supported by the high liquidity and low fees of ETFs, which are becoming core components of FOF portfolios [1] Group 2: Fund Performance - Multiple FOF products have shown stable performance, with ICBC's "Rui Zhi Jin Qu Yi Nian A" leading the equity FOF category with a return of 11.36% as of June 4, 2025 [3] - Other notable performers include "Qianhai Kaiyuan Yu Yuan" and "Tongtai You Xuan Pei Zhi" funds, with returns of 9.57% and 9.28% respectively [3] - ICBC's various pension FOF products, such as "ICBC Pension 2050Y" and "ICBC Pension 2045Y," are also ranking highly in their respective categories [5][6] Group 3: Investment Strategy and Trends - The FOF market is increasingly recognized as a key tool for personal pension investments, with a focus on target date and target risk FOFs to meet diverse investor needs [5] - ICBC Credit Suisse has established a comprehensive product line covering various retirement goals and risk profiles, demonstrating a long-term commitment to pension FOFs [8] - The dual strategy of "investment research platformization and track specialization" is crucial for FOFs to adapt to market changes and enhance their appeal to investors [9]