编者按： 潮涌万象，中国公募基金业正经历从规模增长到价值创造的深刻变革。在高质量发展的时代命题下，如何在变革中把握机遇、锻造持久优 势，成为每家机构的核心课题。那些持续创造价值的公司，必有其独特基因——或是穿越周期的投研智慧，或是引领创新的产品布局，或 是对长期主义的执着坚守。证券时报星基金周刊推出"解码中国基金业优秀基因"系列报道，旨在探寻支撑行业行稳致远的内在动力，记录 那些推动行业持续进步的坚实力量。 在公募基金规模迈过36万亿元的今天，行业格局似乎日益固化，头部巨头们凭借全能作战体系构建了坚实的护城河，留给中型基金公司的 生存空间越来越窄。 然而，总有例外者试图打破宿命。永赢基金，一家典型的银行系公司，在2025年的市场中上演了一场惊人的突围。截至三季度末，其主动 权益产品规模达到934.64亿元，年内规模激增766亿元，增量高居市场第一。 数据来源：Wind 陈书玉/制表 在巨人的战场上，永赢基金究竟做对了什么？证券时报记者经过多方深度调研，试图解构其高增长背后的成长动因，这不只是一次业绩上 的爆发，更像是一场长期谋划的战略突围。 决心：权益投资是关乎生存的"必答题" 永赢基金成立之初就有发展权益的 ...

Core Viewpoint - The article discusses the transformation of the Chinese public fund industry from scale growth to value creation, highlighting the unique strategies of companies like Yongying Fund that have successfully navigated this change [1][18]. Group 1: Industry Landscape - The public fund industry has surpassed 36 trillion yuan, with leading firms establishing strong competitive advantages, leaving less space for mid-sized companies [2][18]. - Yongying Fund, a bank-affiliated company, has achieved remarkable growth, with its active equity product scale reaching 93.464 billion yuan, an increase of 76.6 billion yuan in the year, marking the highest growth in the market [2][18]. Group 2: Strategic Decisions - Yongying Fund's management recognized that developing equity investment was essential for the company's survival, leading to a strategic focus on this area despite initial challenges [6][8]. - The company made significant investments in talent acquisition and launched ten new funds focused on innovative production capabilities and traditional industry upgrades during a market downturn [8][12]. Group 3: Organizational Innovation - The introduction of the concept that "every fund manager is also a product manager" has reshaped the investment culture at Yongying Fund, emphasizing the importance of understanding client needs and product positioning [9][10]. - A unique "product meeting" mechanism has been established to facilitate collaboration across departments, enhancing decision-making efficiency [10][12]. Group 4: Market Positioning - Yongying Fund's "Smart Selection" product line has gained traction by focusing on high-potential sectors like humanoid robots and cloud computing, aligning with national strategic directions [12][19]. - The company has adopted a customer-centric approach, prioritizing customer acquisition over sheer scale, which has proven effective in building trust and brand loyalty [13][19]. Group 5: Future Aspirations - Yongying Fund aims to evolve into a platform-based asset management company, emphasizing the importance of diverse product lines to mitigate market volatility [14][15]. - The company acknowledges the need for continuous investment in talent and strategy to achieve its long-term goals, particularly in areas like quantitative analysis and multi-asset allocation [15][16]. Group 6: Industry Implications - Yongying Fund's success illustrates that mid-sized firms can thrive through differentiated strategies and a focus on core competencies [16][18]. - The shift towards tool-based products reflects a broader industry trend, raising questions about the evolving responsibilities of fund managers and investors [20][21].