Core Insights - The public fund industry in China is transitioning from scale expansion to quality improvement, with a focus on enhancing core investment research capabilities and adopting new technologies like AI and big data [1][4] - China’s public fund industry has seen significant growth, with total assets under management increasing from 8.4 trillion yuan at the end of 2015 to 36.74 trillion yuan by September 2025 [1] - There is a notable disparity between fund performance and investor returns, with actual annualized returns for investors being significantly lower than the funds' reported performance [2][3] Industry Challenges - The rapid expansion of the secondary market presents challenges for fund managers, as the number of listed companies exceeds 8,000, limiting the depth and breadth of research [3] - The public fund industry faces issues such as unclear product positioning and insufficient investor education, contributing to a lack of investor satisfaction [2] Strategic Response - The industry is encouraged to adopt a "professional, industrialized, and intelligent" investment research system to enhance core capabilities and ensure sustainable returns [4][8] - Middle-of-the-road strategies include a focus on deep research specialization, with teams dedicated to over 80 subfields to ensure comprehensive coverage of various asset classes [5][6] Implementation of New Models - The industrialization of investment processes aims to improve collaboration and efficiency, utilizing standardized tools to enhance communication and strategy consistency among team members [6][7] - The integration of digital and intelligent technologies is crucial for managing large-scale funds, with a focus on creating structured data assets and utilizing AI for predictive analytics [7] Enhancing Investor Experience - The company emphasizes a "long-termism" approach, aiming to improve investor satisfaction through comprehensive service offerings and continuous engagement [9][10] - Initiatives include hosting over 3,000 offline events to connect with investors, providing diverse content through various media, and leveraging AI for personalized customer service [9][10]

Core Insights - The public fund industry in China is transitioning from scale expansion to quality improvement, with a focus on enhancing core investment research capabilities and adopting new technologies like AI and big data [1][3] - China Securities Regulatory Commission aims to implement policies for high-quality development in the public fund sector over the next three years [1] - Despite significant growth in the public fund industry, challenges remain regarding investor satisfaction and the effective functioning of funds [2][3] Industry Growth and Challenges - The public fund industry has grown from 8.4 trillion yuan at the end of 2015 to 36.74 trillion yuan by September 2025 [1] - Challenges include misaligned operational philosophies, insufficient functionality, uneven development structures, and weak investor satisfaction [1][2] Investment Returns and Investor Experience - From 2020 to 2024, annualized returns for non-industry and industry stock funds were 6.67% and 3.68%, while actual investor returns were only 4.03% and -1.38% respectively, indicating a significant "scissors gap" [2] - High market volatility and unclear fund product positioning contribute to this disparity [2] Regulatory Developments - The China Securities Regulatory Commission released a draft guideline to clarify product positioning and enhance the quality of excess return assessments [3] - The guideline aims to improve investor satisfaction and address challenges faced by fund manufacturers [3] Research and Development Strategy - The company is focusing on a "professional, industrialized, and intelligent" investment research system to enhance core capabilities [4][5] - The investment research field is divided into over 80 sub-sectors, allowing for deep specialization and long-term research commitments [5][6] Industrialization and Efficiency - The industrialization of the investment process aims to improve collaboration and ensure consistent quality in investment outcomes [6][7] - The "MARS Factory" model exemplifies this approach by standardizing the management of multi-asset solutions [6] Digital Transformation - The company is leveraging digitalization and intelligent systems to manage large-scale social funds effectively [7] - AI integration is transforming research processes, enhancing data handling and predictive accuracy [7] Long-term Commitment to Investors - The company emphasizes a "long-termism" approach in both product development and client services, aiming to enhance investor satisfaction [8][9] - Initiatives include extensive offline engagement, diverse communication methods, and innovative product offerings tailored to investor needs [8][9]

Core Viewpoint - The event "Financial Education Promotion Week - Fund Industry in Action" aims to enhance financial consumers' and investors' risk identification and prevention capabilities, emphasizing the importance of investor-centric services in the mutual fund industry [1][2]. Group 1: Industry Initiatives - The China Securities Regulatory Commission has introduced the "Action Plan for Promoting High-Quality Development of Public Funds," focusing on transforming the industry from "scale-oriented" to "customer-centric" [2]. - The future of the public fund industry relies on building investor trust, which is fundamentally linked to tangible investor satisfaction [2]. Group 2: Customer-Centric Approach - Financial institutions should prioritize "customer interests first" by optimizing product design and fee structures to benefit investors [5]. - Providing professional support and educational content is essential for guiding investors through market cycles [5]. - Establishing transparent communication mechanisms is crucial for safeguarding investors' rights and building trust [5]. Group 3: Service Principles - The "Service Charter" released by the company includes four key service principles: frequent engagement with investors, sharing market insights, maintaining open communication, and innovating products centered around investor needs [8][9]. - Since its establishment, the company has conducted over 3,000 offline events to understand and address investors' needs [9]. - The company has produced 4.5 million words of market insights and achieved over 2.6 billion views on various video platforms, demonstrating its commitment to investor engagement [9][10]. Group 4: Product Innovation - The company emphasizes product innovation from the investor's perspective, having launched the first floating management fee fund in the industry [10]. - The development of Smart Beta multi-strategy products aims to provide investors with clear positioning and stable styles, addressing their core needs for reliable investment tools [12]. Group 5: Investor Engagement - The event attracted over a hundred participants, highlighting the company's commitment to integrating long-term investor interests into every service aspect [19]. - Continuous communication and support are essential for enhancing the investment experience and ensuring investor satisfaction [15].