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易方达财富衔枚疾进 “三大变革”锚定高质量发展
Xin Hua Cai Jing· 2025-12-05 11:45
当珠江岸线的金融脉搏与投顾行业的变革浪潮同频共振,一场承载行业未来走向的盛会——2025广州投 资顾问大会暨财富管理转型发展会议在广州南沙举办。恰逢此时,易方达财富管理基金销售(广州)有 限公司(下称"易方达财富")宣告启航,为自身业务进阶与行业实践铺展更具想象空间的路径。 在本次会议现场,易方达财富董事长陈彤对外公布三项突破性变革举措:全面升级策略构建"千人多 面"服务体系、基金投顾和销售不作重复收费让利客户、"低门槛"开放TAMP平台赋能全行业发展,勾 勒出易方达财富从服务内核到生态共建的发展蓝图,助力基金投顾行业高质量发展。 从"千人几面"到"千人多面" 130个精细策略匹配多元需求 "客户需求的多样化与精准匹配能力不足,是制约基金投顾业务发展的首要瓶颈。"陈彤在大会上直言。 回溯行业发展初期,受限于投研能力与平台开发能力,易方达财富最初仅能提供5-10个投顾策略,行业 普遍处于"千人几面"的产品化阶段,客户个性化财富管理需求难以得到满足。而海外成熟市场如美国头 部机构,虽历经40年发展形成300个策略体系,但与国内基金投顾的业务边界存在差异。 经过六年投研积累与系统打磨,易方达财富正式推出130个精细 ...
瑞达期货宏观市场周报-20250905
Rui Da Qi Huo· 2025-09-05 09:48
1. Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. 2. Core Viewpoints - In the US, employment indicators continue to slow, and a rate cut is almost certain. The "asymmetry" between economic resilience and the slowdown in employment and inflation continues to disrupt the long - end yield of US Treasuries, making it difficult for the US dollar to establish a real interest rate differential advantage. If the non - farm payroll data continues to cool, it will further solidify the rate - cut expectation [10]. - In Europe, core inflation has a mild rebound, and the economic outlook has improved. The inflation level remains relatively firm, manufacturing activities show improvement, and the economic outlook within the region is becoming more optimistic as external trade pressure eases [10]. - In China, the 8 - month official manufacturing PMI has improved, and it is expected to continue to show marginal improvement in September. However, there are significant structural differentiations in the manufacturing industry, and subsequent policies are expected to favor high - tech manufacturing [11]. - In the capital market, A - share major indices generally declined this week, except for the ChiNext Index. The four stock index futures also fell collectively. The bond market's trend is restricted by the change in market risk preference. Commodity indices are expected to strengthen due to the strong performance of gold. The US dollar has a rebound, and the euro is fluctuating [6]. 3. Summary by Relevant Catalogs 3.1 This Week's Summary and Next Week's Allocation Suggestions - **Stock Market**: The CSI 300 fell 0.81%, and the CSI 300 stock index futures fell 1.02%. A - share major indices generally declined this week, except for the ChiNext Index. The four stock index futures also fell collectively, with large - cap blue - chip stocks being relatively firm. The market was dull on Monday, weakened from Tuesday to Thursday due to the 8 - month manufacturing PMI in the contraction range, and rebounded strongly on Friday due to the increased expectation of a Fed rate cut. The daily trading volume remained above 2 trillion. The allocation suggestion is to buy on dips [6]. - **Bond Market**: The 10 - year Treasury bond yield decreased by 0.26% this week, with a weekly change of - 0.48BP, and the main 10 - year Treasury bond futures rose 0.10%. The bond market's trend is restricted by market risk preference. The allocation suggestion is to watch cautiously [6]. - **Commodity Market**: The Wind Commodity Index rose 4.69%, and the CSI Commodity Futures Price Index rose 1.00%. A series of poor US economic data have strengthened the expectation of a Fed rate cut in September, which has boosted the price of gold and the commodity index. The allocation suggestion is to mainly watch [6]. - **Foreign Exchange Market**: The euro against the US dollar fell 0.17%, and the euro against the US dollar 2509 contract fell 0.15%. Before the release of non - farm payroll data, the long - short game of the US dollar intensified. The market has fully priced in a 25 - bps Fed rate cut in September. The euro is fluctuating. The allocation suggestion is to watch cautiously [6]. - **Central Bank's Open - Market Operations**: This week, the central bank of China had a net withdrawal of 1.2047 trillion yuan in the open market. It conducted a 1 - trillion - yuan 3 - month repurchase operation on September 5 to renew the same - term maturing instruments. Although the current liquidity is seasonally loose, there is still 300 billion yuan of 6 - month repurchase maturing this month. In the context of slowing economic growth, a stable exchange rate, and an increased probability of a Fed rate cut, the central bank is expected to continue to inject medium - term liquidity [12]. 3.2 Important News and Events - **Domestic News**: China and Russia signed more than 20 bilateral cooperation documents in various fields. The "Measures for Marking AI - Generated Synthetic Content" came into effect on September 1. The National Development and Reform Commission will improve the long - term mechanism for private enterprises to participate in major national projects. The SCO member states issued a statement on strengthening digital economy development [14]. - **International News**: Trump appealed to the US Supreme Court regarding the tariff ruling. The Fed's Beige Book showed that economic activities in most parts of the US had little change. ECB President Lagarde said she would ensure the inflation rate stays at 2%. The deputy governor of the Bank of Japan signaled to continue the rate - hike process [16]. 3.3 This Week's Domestic and International Economic Data - **US Economic Data**: The US 8 - month ISM manufacturing PMI was 48.7, the 7 - month factory orders monthly rate was - 1.3%, the 8 - month ADP employment number was 54,000, the initial jobless claims for the week ending August 30 were 237,000, and the 7 - month trade balance was - 78.3 billion US dollars [17]. - **European Economic Data**: The eurozone 8 - month manufacturing PMI final value was 50.7, the 7 - month unemployment rate was 6.2%, the 8 - month CPI annual rate initial value was 2.1%, the 7 - month PPI monthly rate was 0.4%, and the 7 - month retail sales monthly rate was - 0.5% [17]. - **Other European Countries**: The UK 8 - month manufacturing PMI final value was 47, the German 8 - month manufacturing PMI final value was 49.8, and the French 8 - month manufacturing PMI final value was 50.4 [17]. 3.4 Next Week's Important Economic Indicators and Economic Events - Next week, important economic data to be released include China's August export and import annual rates in US dollars, CPI annual rate, etc.; Japan's July trade balance; Germany's July industrial output monthly rate; the US's August PPI annual rate, CPI annual rate, etc.; and the eurozone's September 11 European Central Bank deposit mechanism interest rate [78].