时光荏苒，岁月流金。2005年12月，在中国公募基金发展的浪潮中，华商基金应运而生，在中国资本市 场扬帆起航。2025年12月，华商基金迎来成立二十周年。 廿载春秋，风华正茂；继往开来，再谱华章。回顾二十年不平凡的发展历程，华商基金始终秉持初心， 以持有人利益为先，以专业铸就价值，以诚信赢得信赖，在波澜壮阔的资管行业中，刻下了属于自己的 辉煌印记，并正以昂扬的姿态，迈向高质量发展的新未来。 坚守主动管理方向 铸就卓越业绩丰碑 二十年，是时间的标尺，也是业绩的试金石。华商基金自成立以来，始终将主动管理能力视为立身之本 与发展之基，在权益与固收两大投资领域精耕细作，取得了令市场瞩目的长期回报。 根据国泰海通证券数据，截至2025年9月30日，华商基金旗下主动权益类基金近五年(2020.10.01- 2025.9.30)绝对收益率达120.39%，在141家可比公司中排名第3；近七年(2018.10.01-2025.9.30)绝对收益 率达269.62%，在118家可比公司中位列第2。 在固定收益投资领域，华商基金的主动固收类产品同样表现卓越。国泰海通证券数据显示，公司旗下主 动固收类基金近五年(2020.10.0 ...

Core Viewpoint - The article highlights the evolution and achievements of the brokerage asset management industry over the past 15 years, emphasizing the importance of value investment and the establishment of a diversified product matrix to meet investor needs [1][2][19]. Industry Development - The brokerage asset management industry began its independent operations in 2010 with the establishment of the first brokerage asset management company, marking a new chapter in the industry [2]. - The industry has experienced significant growth, with assets under management increasing from 2.8 trillion yuan at the end of 2011 to a peak of 18.8 trillion yuan in April 2017, driven by regulatory changes and market demand [5][6]. - The introduction of the new fund law in 2013 allowed brokerage firms to apply for public fund licenses, further expanding their operational scope [5][6]. Value Investment and Research Platform - The industry has focused on building a robust research and investment platform, emphasizing value investment based on fundamental research to achieve sustainable returns for investors [3][4]. - The establishment of independent asset management subsidiaries has allowed leading brokerages to enhance their operational capabilities and adapt to market changes [4][6]. Product Matrix and Innovation - The brokerage asset management sector has transitioned from a focus on single asset management to a more diversified product offering, including public and private fund management [10][11]. - As of June 30, 2025, the company managed 106 collective asset management plans across various investment fields, showcasing its strong investment management and risk control capabilities [10][11]. - The company has been proactive in launching innovative products, including the first public fund license among brokerages and a comprehensive range of FOF products tailored to different investor profiles [12][13]. Client Service and Trust Building - The company has developed a unique client service model, conducting extensive outreach and educational initiatives to foster a healthy investment mindset among clients [14][15][17]. - The "Oriental Red Ten Thousand Miles" client service initiative has been instrumental in building trust, with over 14,000 events held nationwide, reaching more than 2 million participants [17]. - The company aims to deepen its relationship with investors through a comprehensive service model that combines research, investment, and advisory services [18]. Future Outlook - The company is set to embark on a new strategic plan in 2025, focusing on serving emerging industries and integrating into the broader financial ecosystem [21]. - The commitment to value creation and high-quality service will continue to guide the company's operations as it seeks to enhance its competitive edge in the asset management industry [19][21].