Core Viewpoint - The transformation of fund distribution institutions towards a client experience-focused "buy-side advisory" model is becoming an inevitable trend in the industry [1][6]. Group 1: Industry Trends - The performance of public funds in China continues to improve, with several funds achieving significant returns, such as the Yongying Medical Innovation Mixed Fund, which has seen a net value increase of 112.7% this year [2][3]. - Fund distribution platforms are increasingly emphasizing long-term profitability over short-term performance, with many platforms showcasing funds that have consistently generated positive returns over five years [4][5]. Group 2: Institutional Changes - Fund distribution institutions are adopting a more restrained marketing approach, focusing on metrics such as investor experience and long-term performance rather than just short-term gains [5][6]. - The regulatory framework is evolving, with the introduction of a classification evaluation mechanism for fund sales institutions, which includes metrics related to investor profitability and holding periods [5].

Core Viewpoint - The transformation of fund distribution institutions is an inevitable trend, focusing on long-term returns rather than short-term performance [2][8]. Group 1: Industry Trends - Fund distribution platforms are increasingly emphasizing long-term profitability, with many mainstream platforms showcasing funds with consistent positive returns over five years [3][5]. - The rise of "doubling funds" has attracted attention, with some funds, such as the Yongying Medical Innovation Mixed Fund, showing a net value increase of 112.7% this year [4]. Group 2: Changes in Fund Distribution Practices - Fund distribution institutions are adopting a more restrained marketing approach, focusing on long-term performance metrics rather than short-term gains [5][7]. - Platforms like LiCaiTong and Ant Fund are prioritizing funds that have outperformed the market over five years, indicating a shift towards a more sustainable investment strategy [6][7]. Group 3: Regulatory and Market Influences - The "Action Plan for Promoting High-Quality Development of Public Funds" aims to establish a classification evaluation mechanism for fund sales institutions, incorporating various performance metrics [7]. - The dual influence of policy and market dynamics is driving fund distribution institutions to prioritize investor experience and long-term performance over short-term results [8].