Core Viewpoint - The ETF market is experiencing intense competition, transitioning from a tool-focused 1.0 era to a solution-oriented 2.0 era, with major ETF firms adopting personalized and differentiated strategies to build competitive moats [1][5]. Group 1: Market Competition - The recent launch of the benchmark market-making credit bond ETF and the addition of the Sci-Tech bond ETF have intensified competition in the ETF market [1]. - On July 7, ten leading public funds, including Huaxia Fund and E Fund, will compete in the issuance of the Sci-Tech bond ETF, with seven companies shortening the fundraising period to one day and setting a cap of 3 billion yuan, aiming for the coveted "daylight fund" status [2]. - The first batch of eight benchmark market-making credit bond ETFs launched earlier this year has shown strong capital attraction, with a total scale exceeding 131.4 billion yuan [2]. Group 2: Market Dynamics - The "Matthew Effect" in the ETF market is becoming more pronounced, leading to increased polarization, with the top ten public fund institutions holding 80% of the total non-money market ETF scale, amounting to 3.32 trillion yuan [2]. - Analysts indicate that leading firms leverage brand, product lines, and resource barriers to dominate the market, while smaller firms face challenges due to scale and liquidity barriers [2]. Group 3: Differentiation Strategies - Huaxia Fund launched the "Investment Satisfaction Evaluation Model" and upgraded its "Red Rocket" platform to enhance user experience and asset allocation functionality, aiming to facilitate "ETF investment freedom" [3]. - E Fund has been actively adjusting ETF abbreviations and standardizing them, narrowing the scale gap with Huaxia Fund to less than 40 billion yuan [4]. - The focus on brand building and differentiation strategies is evident as firms seek to enhance ETF product recognition and investor service capabilities [4]. Group 4: Investor Engagement - Leading ETF firms are increasingly focusing on investor education, service platform development, and brand operation strategies to enhance investor loyalty [5][6]. - The shift from traditional competition based on product features to a focus on investor understanding and trust is becoming a key strategy for retaining long-term investors [6]. - Recent initiatives include E Fund's thematic investment strategy and the launch of various investor engagement tools by other firms, such as the "Super ETF" brand by Jiashi Fund [7]. Group 5: Brand Building - ETF firms are exploring various brand-building strategies, with Huaxia Fund positioning itself as the first ETF manager in China and emphasizing simplicity in its services [9]. - Other firms, like GF Fund and Penghua Fund, have also developed unique ETF brands to cater to diverse investor needs and enhance their market presence [10][11]. - The importance of aligning brand strategies with product characteristics and avoiding superficial marketing tactics is highlighted as essential for effective brand building [12].

本报讯(记者王宁)近日，华夏基金举办"2025一年一度指数大会"，推出业内首创的"投资获得感评价模 型"，并重磅发布"红色火箭LetfGo"。华夏基金总经理李一梅表示，当前公募基金已经迈入资产配置时 代，面对充满变数的投资市场和超万只的投资产品，资产配置是连接行业高质量发展与投资者获得感的 坚实桥梁，公司用"乐高思维"塑造多资产全能平台，创设丰富多样的产品，为普通投资者实现低成本地 构建跨资产、跨周期组合创造条件。 据了解，"红色火箭LetfGo"将华夏基金的资产配置能力，转化为投资者可轻松触达、清晰理解的解决方 案。李一梅介绍说，公司始终将提升投资者的获得感和投资幸福感视为发展的星辰大海，并坚信能够为 每位投资者提供更优的财富解决方案和更简便的实现路径，为千家万户的美好生活添砖加瓦。 华夏基金首席策略分析师轩伟表示，"获得感提升是系统工程"，该模型提炼出六大高获得感投资者画 像，并在实践层面提出三维提升方案。这一发布标志着公司建立起围绕"洞察赋能收获"全链条综合的投 资者获得感评价能力体系。"该体系是一个开放成果，期待与全市场生态链伙伴共建更健康的服务模 式，助力对投资者需求的洞察能转化为全行业一致的行动。 ...

伴随中国资本市场的快速发展，我国公募基金行业迎来高质量发展的里程碑之年。 面向绘就行业高质量发展蓝图，增强投资者获得感的新征程，华夏基金于6月28日在京举办"2025 • 一年一度指数大会"，推出业内首创的"投资获得感评价模型"，并 重磅发布"红色火箭LetfGo"。 华夏基金总经理李一梅在开场致辞中表示，以客户为中心，是华夏基金刻入企业基因的承诺。面对高质量发展的时代考验，李一梅强调："衡量高质量发展的黄金标 准是投资者获得的真实收益，是穿越市场波动时的从容心态，是每一次服务中感受到的专业与温度，也就是投资者的获得感。"为切实提升投资者的获得感，华夏基 金设立投资者回报研究中心，并通过深入的客户调研和海量的交易数据分析，构建了业内首个"投资获得感评价模型"。 李一梅强调，公募基金已经迈入资产配置时代，面对充满变数的投资市场和超万只的投资产品，华夏基金认为资产配置是连接行业高质量发展与投资者获得感的坚 实桥梁，并用"乐高思维"塑造多资产全能平台，创设丰富多样的产品，为普通投资者实现低成本地构建跨资产、跨周期组合创造条件。同时，秉承"用尽全力让投资 者毫不费力"的理念，华夏基金一站式指数服务平台——红色火箭推出 ...

Group 1 - The core viewpoint of the articles is that Huaxia Fund has launched an innovative "Investment Satisfaction Evaluation Model" to enhance investor satisfaction and adapt to the evolving asset allocation era [2][3] - Huaxia Fund emphasizes the importance of real returns for investors as a standard for high-quality development, aiming to create a seamless investment experience through professional services and diverse product offerings [2] - The company has established an Investor Return Research Center to analyze customer feedback and trading data, which supports the development of the "Investment Satisfaction Evaluation Model" [2] Group 2 - The ETF market in China has reached a significant milestone, surpassing 4 trillion yuan in total scale and entering the "thousand product era," indicating rapid growth and providing strong support for asset allocation [4] - Huaxia Fund has upgraded its "Red Rocket 2.0" platform, which includes new services like "LetfGo" and "Industry Data," focusing on improved user experience and practical asset allocation features [4] - Dr. Chen Peng, a senior strategic advisor, highlighted that long-term returns for fund investors primarily come from market returns (Beta), and diversification is the only "free lunch" in investing, while also introducing the concept of "Gamma" to address behavioral inefficiencies [4]

专题：华夏基金一年一度指数大会 6月28日，华夏基金一年一度指数大会在北京举行。圆桌讨论环节，知名财经内容创作者小Lin说，基金 组合主理人熊思远，华夏基金资深用户丁颖，华夏基金红色火箭小程序使用者任帅，共同讨论投资历程 与心得，分享揭秘指数投资获得感提升路径。 "不气盛能叫年轻人吗？但市场专治各种不服" 在华夏基金指数大会的圆桌现场，科技从业者任帅的发 言引发了年轻投资者的强烈共鸣。这位典型的90后投资者，用三年时间走完了从理财小白到工具派玩家 的蜕变之路——从盲目追逐热点被"割韭菜"，到用数据武装自己，在波动的市场中寻找确定性。 一、血泪成长史：年轻人的投资必修课 第一阶段：安稳起步的"存款党" 和多数职场新人一样，任帅的理财之路始于银行定存。"工资跑不赢通胀"的焦虑，让他迈出第二步：跟 风买入互联网平台高收益理财产品。所幸在老板跑路前敏锐撤离，躲过一劫。"现在回想还后怕，所谓 高收益都是风险溢价。" 第二阶段：激情交学费的"股市小白" 手握有限积蓄杀入股市后，任帅经历了所有新手必经的试炼： 追涨杀跌："科技股暴涨时满仓杀入，回调时割肉离场" 情绪过山车："白天盯盘心跳加速，深夜失眠刷股吧" 信息过载：" ...

Core Insights - The annual index conference held by Huaxia Fund highlighted the evolution of index investment strategies among different investors, emphasizing the importance of cognitive upgrades and strategic iterations in enhancing investment experiences [1][9]. Group 1: Investor Profiles - Xiong Siyuan transitioned from a confident "alpha" seeker to a focus on index investment and diversified allocation after facing challenges in the A-share market, now aiming to create excess returns through index-enhanced products [2]. - Ding Ying's investment journey spans 20 years, evolving from passive investment to active management, adjusting her portfolio from 90% bonds to a mix of 60%-80% bonds and equity, reflecting her growing risk tolerance and understanding [3]. - Ren Shuai, a user of the Hongse Huojian app, represents a younger demographic, moving from traditional bank savings to exploring tech-focused investments through funds, still identifying as a beginner in the investment landscape [4]. Group 2: Core Strategies - Ding Ying employs a strategy of "contrarian timing and dynamic balance," advocating for buying undervalued assets and maintaining a diversified portfolio to mitigate risks, with a focus on 60%-80% allocation in government bonds as a stabilizing factor [5]. - Xiong Siyuan's framework includes "diversified allocation and index enhancement," emphasizing the importance of understanding risk tolerance and using tools to assess index valuations for informed investment decisions [6]. - Ren Shuai's approach is characterized by a focus on technology sectors, utilizing news events to identify investment signals and relying on community discussions to validate his investment strategies [7][8]. Group 3: Pitfalls to Avoid - Investors should be wary of "crowding traps," as highlighted by Xiong Siyuan's experience with excessive capital inflow into small-cap sectors leading to significant drawdowns, suggesting caution when popular funds are heavily promoted [9]. - Ding Ying warns against "mindless dollar-cost averaging," sharing her experience of incurring losses by continuing to invest in a declining market without trend analysis, advocating for a more strategic approach to investment timing [9]. - Xiong Siyuan advises caution with sector-specific indices due to their higher volatility compared to broad-based indices, recommending new investors limit their exposure to 5% of their portfolio [9]. Group 4: Investment Wisdom - Ding Ying emphasizes the importance of conscious investing, managing positions wisely, and taking profits during market exuberance [9]. - Xiong Siyuan suggests finding a set of long-term appreciating assets and maintaining a balanced allocation while investing during market dips [9]. - Ren Shuai encourages investors to discover their own "upward indices" to foster a positive investment journey [9].

专题：华夏基金一年一度指数大会 6月28日，华夏基金一年一度指数大会在北京举行。圆桌讨论环节，知名财经内容创作者小Lin说，基金 组合主理人熊思远，华夏基金资深用户丁颖，华夏基金红色火箭小程序使用者任帅，共同讨论投资历程 与心得，分享揭秘指数投资获得感提升路径。 丁颖：20年老基民的三个阶段 2006年，丁颖糊里糊涂买入华夏回报二号，9万本金赎回时净赚6万——"糊里糊涂挣钱"是她投资生涯的 甜蜜起点。2020年后，她转向稳健的债基投资，成为"快乐的数蛋人"，90%仓位配置债基。真正的蜕变 发生在2023年，她主动调整持仓，将权益仓位提升至20%-40%。"拆解交易"是她悟出的关键：不再执着 于全仓卖出，而是分批赎回盈利部分，成功解套恒生指数并实现盈利。 熊思远：从"阿尔法幻觉"到"弱者心态" 6月28日，华夏基金年度指数大会在北京举行。在备受瞩目的圆桌讨论环节，三位不同背景的投资者 ——基金组合主理人熊思远、20年华夏老客户丁颖、科技从业者任帅——展开了一场关于指数投资的深 度"坦白局"。 他们从投资血泪史聊到实战秘笈，从"数蛋蛋"的债基爱好者进化到资产配置高手，揭开了提升指数投资 获得感的真实路径。 一、投 ...

Group 1 - The core viewpoint of the articles highlights the rapid development and high-quality growth of China's public fund industry, with total assets exceeding 33 trillion yuan, reflecting the increasing demand for wealth management among residents and the effectiveness of capital market reforms [1][3][6] - The launch of the "Investment Satisfaction Evaluation Model" by Huaxia Fund aims to enhance investor satisfaction and is based on extensive research, including over 70,000 customer questionnaires and 100,000 community comments [3][4] - Huaxia Fund emphasizes the importance of asset allocation in connecting high-quality industry development with investor satisfaction, introducing a multi-asset platform and the "LetfGo" service to facilitate low-cost investment solutions for ordinary investors [2][4] Group 2 - The ETF market in China has also seen significant growth, surpassing 4 trillion yuan in total assets, with the number of products entering the "thousand" era, providing strong support for asset allocation [4][6] - Huaxia Fund's "Red Rocket 2.0" service upgrade focuses on broader coverage, deeper data, and better asset allocation, aiming to enhance the investment experience for users [4][6] - The company is committed to providing comprehensive wealth management solutions and enhancing investor satisfaction through innovative service upgrades and professional responsibility [6][7]

伴随中国资本市场的快速发展，我国公募基金行业迎来高质量发展的里程碑之年。公募基金总规模年内再创新高，突破33万亿元。行业规 模节节攀升的背后，一方面反映出居民财富管理需求持续增长，公募基金凭借专业管理、透明运作等优势，成为居民财富配置的重要渠 道；另一方面亦体现出资本市场改革发展成效显现，市场生态持续优化，公募行业成为资管行业的中坚力量。面向绘就行业高质量发展蓝 图，增强投资者获得感的新征程，华 夏基金于6月28日 在京举办 " 2025 • 一年一度指数大会 " ，推出业内首创的 " 投资获得感评价模 型 " ，并重磅 发布"红色火箭LetfGo" 。 华夏基金总经理李一梅在开场致辞中表示，以客户为中心，是华夏基金刻入企业基因的承诺。面对高质量发展的时代考验，李一梅强 调，"衡量高质量发展的黄金标准是投资者获得的真实收益，是穿越市场波动时的从容心态，是每一次服务中感受到的专业与温度，也就是 投资者的获得感"。为切实提升投资者的获得感，华夏基金设立投资者回报研究中心，并通过深入的客户调研和海量的交易数据分析，构建 了业内首个"投资获得感评价模型"。 李一梅强调公募基金已经迈入资产配置时代，面对充满变数的投资市 ...

Core Viewpoint - The ongoing trend of renaming ETFs is aimed at enhancing clarity and reducing confusion for investors, as evidenced by the recent announcement from Harvest Fund to rename 22 of its ETFs to a standardized format [1][6]. Group 1: ETF Renaming and Standardization - Harvest Fund announced the renaming of 22 ETFs, including major indices like CSI A500 and CSI A100, to a clearer format that includes "Index + Product Type + Manager" [1][2]. - The renaming process does not affect product codes, fees, or investment strategies, ensuring that existing shareholder rights remain intact [1][2]. - This renaming initiative is part of a broader industry trend, with other firms like Huaxia and E Fund also having renamed their ETFs this year [2][6]. Group 2: Market Growth and Trends - The total scale of ETFs in China surpassed 4 trillion yuan for the first time in April 2023, marking a significant growth from just over 3 trillion yuan in September 2022 [6][10]. - As of June 16, 2023, there are 51 public fund companies managing 1,163 ETFs, with a total net asset value of approximately 3.99 trillion yuan [7][8]. - The ETF market is experiencing a "Matthew Effect," where the top 10 fund companies manage nearly 85% of the total ETF assets, highlighting a concentration of market power [8][9]. Group 3: Fee Structure and Investor Engagement - Management fees for ETFs have increased significantly, with Huaxia Fund's fees rising from 11.9 million yuan in 2022 to 24.53 million yuan in 2024 [9]. - The trend towards lower fees is evident, with many newly launched ETFs adopting a management fee structure of 0.15% [9][10]. - The number of accounts participating in the ETF market has grown to nearly 10 million, reflecting a rising interest in index-based investment strategies [10][11]. Group 4: Future Development and Strategy - The Shanghai Stock Exchange emphasizes the need for high-quality development in the ETF market, focusing on enhancing product supply and optimizing market mechanisms [10][11]. - Public fund managers are increasingly adopting a "research + service + strategy" model to improve transparency and accessibility of ETF products for investors [11].