范雨露 制图 5.5万亿元规模ETF启新局： 从"产品供应商"到"资产配置服务商" ◎记者 赵明超 据测算，ETF最新规模已达5.5万亿元，再创历史新高。百亿级ETF阵营亦显著扩容，已有115只ETF规 模突破百亿元。 从当前ETF格局来看，马太效应愈发强化，头部基金管理人掌握近九成市场份额。在业内人士看来，随 着ETF品类进一步丰富，行业竞争的重心将从"拼产品数量和规模"转向"拼资产配置服务能力"，一场围 绕全链条服务的新较量正拉开帷幕。 ETF规模达到5.5万亿元 行业马太效应显著 5万多亿元的蛋糕，有哪些机构分食？ 据统计，目前共有50多家基金管理人布局了ETF，但行业集中度非常高。总体而言，15家基金管理人 ETF管理规模超过千亿元，合计达4.85万亿元，占全市场总规模的近九成。其中，两家头部机构遥遥领 先，华夏基金ETF管理规模为8868.84亿元，易方达基金ETF管理规模为8455.94亿元。 此外，华泰柏瑞基金ETF管理规模为5861.87亿元，南方基金、嘉实基金ETF管理规模均超3000亿元，广 发基金、富国基金、国泰基金、博时基金等ETF管理规模也均在2000亿元以上。 与之形成鲜明对比的是 ...

Core Viewpoint - 华夏基金 has launched the "Investment Satisfaction Evaluation Model" and the "Red Rocket LetfGo" service, aiming to enhance asset allocation for investors in a complex market environment [1][2] Group 1: Investment Strategy and Product Development - The company emphasizes the importance of asset allocation as a bridge between high-quality industry development and investor satisfaction, offering a diverse range of products to facilitate low-cost cross-asset and cross-cycle portfolio construction [1] - The "Red Rocket LetfGo" service transforms the company's asset allocation capabilities into easily accessible and understandable solutions for investors [1] - The ETF market has seen significant growth, surpassing 4 trillion yuan in total scale and entering the "thousand product era," which supports robust asset allocation [1] Group 2: User Experience and Service Enhancement - The upgraded "Red Rocket 2.0" version includes web services and new features like "LetfGo" and "Industry Data," focusing on broader coverage, deeper data, and better allocation to enhance investor satisfaction [1] - "LetfGo" is designed as a "new toy" for users to manage assets effectively, featuring three main functionalities: multi-asset centralized management, historical backtesting, and strategy templates [2] - The continuous evolution of the "Red Rocket" service aims to establish it as a reliable partner for investors, reinforcing its mission to make index investment accessible to everyone [2]

Core Viewpoint - The Chinese public fund industry is entering a milestone year of high-quality development, emphasizing the importance of enhancing investor satisfaction and returns [1][2]. Group 1: Industry Development - The launch of the "Investment Satisfaction Evaluation Model" by Huaxia Fund aims to provide a blueprint for high-quality industry development and enhance investor experience [2][4]. - The public fund industry is transitioning from a "scale-driven" to a "quality-driven" model, with the total scale of public funds exceeding 33 trillion and the ETF market surpassing 4 trillion [10]. Group 2: Investor Satisfaction - Huaxia Fund's General Manager, Li Yimei, highlighted that the true measure of high-quality development is the real returns experienced by investors, which includes their ability to navigate market fluctuations and the quality of service received [4][6]. - The establishment of the Investor Return Research Center and the analysis of over 70,000 customer questionnaires and 100,000 community comments have led to the creation of a quantifiable "Investment Satisfaction Evaluation Model" [6][7]. Group 3: Product and Service Innovation - The "Red Rocket 2.0" service upgrade includes new features such as "LetfGo," which aims to simplify asset allocation for investors through user-friendly tools [7][8]. - The "LetfGo" service offers three scenarios for asset management, allowing users to customize their asset allocation and visualize their investment strategies [8]. Group 4: Market Insights - The growth of ETFs, with the market size exceeding 4 trillion and entering the "thousand product era," provides significant support for asset allocation strategies [7][10]. - Insights from Dr. Chen Peng emphasize that long-term returns for fund investors primarily come from market returns (Beta), and diversification remains the only "free lunch" in investing [8].

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]

Core Viewpoint - The public fund industry in China is experiencing a milestone year of high-quality development, with total assets surpassing 33 trillion yuan, reflecting the growing demand for wealth management among residents and the effectiveness of capital market reforms [2][6]. Group 1: Industry Development - The public fund industry has reached a new high in total scale, exceeding 33 trillion yuan, indicating a continuous increase in residents' wealth management needs [2]. - The industry is undergoing a structural shift from "scale-driven" to "quality-driven" development, with significant growth in the ETF market, which has surpassed 4 trillion yuan [10]. - The implementation of the "Action Plan for Promoting High-Quality Development of Public Funds" is leading to a systematic reshaping of the industry ecosystem [6]. Group 2: Investor Experience - The core commitment of the company is to be customer-centric, emphasizing that the true measure of high-quality development is the real returns experienced by investors [4]. - To enhance investor experience, the company has established an Investor Return Research Center and developed the industry's first "Investor Satisfaction Evaluation Model" based on extensive data analysis [6][4]. - The company aims to improve investor satisfaction and happiness by providing comprehensive wealth management solutions and simplifying the investment process [5][10]. Group 3: New Services and Innovations - The launch of the "LetfGo" service aims to provide users with a new tool for asset allocation, featuring multiple asset management scenarios and real-time adjustments [9]. - The upgraded "Red Rocket 2.0" service focuses on broader coverage, deeper data, and better asset allocation functionalities to enhance investor satisfaction [8][9]. - The company is committed to continuous innovation and service upgrades to meet the evolving needs of investors and ensure a reliable investment experience [10].