Core Insights - Ant Group's "Ant Financial Gold Selection" has introduced a new "can rise and resist fall" category focusing on relatively low-volatility active funds, enhancing the investment experience for users [1][4] - The platform's methodology is now applied across all funds, providing tools for multi-dimensional analysis of fund performance [1][7] Market Performance - As of the end of September, the CSI 300 Index has risen by 17.9% year-to-date, while the average return of equity funds is 33.27% [2] - Ant Group advocates for balanced asset allocation, suggesting investors consider both high-return assets and stable investments to manage volatility [2][4] Fund Categories and Strategies - "Gold Selection" currently covers four main types of funds: active funds, index funds, pure bond funds, and "fixed income+" funds, with a focus on diversified asset allocation [4][6] - The introduction of the "can rise and resist fall" category aims to meet the demand for stable active funds, suitable for core portfolio allocation in volatile markets [4][6] Performance Metrics - The average return of "Gold Selection" active funds is 34.52%, outperforming the industry average for equity funds [6] - The "high-yield fixed income+" category has a return-to-drawdown ratio 2.5 times higher than the industry average since its launch [6] Transparency and User Experience - The upgraded fund analysis tool enhances transparency, allowing investors to see key performance indicators and detailed research reports for selected funds [7] - Investors holding "Gold Selection" active funds have a 17% higher probability of positive returns compared to non-selected funds, with a 7.8% higher holding return [7] Long-term Performance - Since its launch in January 2019, "Gold Selection" active funds have achieved a cumulative return of 124.41%, significantly outperforming the cumulative return of 95.86% for consistently investing in "champion funds" during the same period [7]

Core Viewpoint - Ant Financial's "Jinxuan" has introduced a new "can rise and resist" category focusing on relatively low-volatility active funds, enhancing the investment experience for users by promoting rational risk assessment and matching [1][5]. Group 1: Market Performance and Fund Strategy - The A-share market has shown significant structural trends this year, with the CSI 300 index rising by 17.9% and equity funds achieving an average return of 33.27% as of the end of September [3]. - Ant Financial advocates for balanced asset allocation, suggesting investors consider advanced assets like gold and technology alongside stable assets like low-volatility fixed income and short-term bonds to control volatility [3][5]. - Users with a balanced stock-bond allocation have a 6% higher probability of profit compared to those holding a single asset [3]. Group 2: Product Offerings and User Experience - "Jinxuan" currently covers four major fund types: active funds, index funds, pure bond funds, and "fixed income +" funds, with over 60% of active funds being diversified to avoid concentration in a single industry [5][7]. - The introduction of the "can rise and resist" category addresses the demand for stable active funds, focusing on both returns and volatility control, suitable for core portfolio allocation in volatile markets [5][7]. - The average return of "Jinxuan" active funds is 34.52% year-to-date, outperforming the industry average for equity funds [7]. Group 3: Fund Analysis and Transparency - Ant Financial has expanded the screening methodology of "Jinxuan" to all funds on its platform, enhancing transparency in fund selection by displaying key performance indicators [9]. - Investors can view a fund's industry, performance against its sector, stability, cost-effectiveness, and management details, facilitating a clearer understanding of the fund [9]. - Data shows that investors holding "Jinxuan" active funds have a 17% higher probability of positive returns and a 7.8% higher return rate compared to non-"Jinxuan" funds [9].

Group 1 - The core viewpoint is that the A-share market's upward trend has led to a significant recovery in the performance of actively managed equity funds, with over 90% of funds exceeding their previous year's net value [1][2] - As of September 12, the CSI 300 index has risen by 15.2% year-to-date, with over 80% of actively managed equity funds outperforming the market, achieving an average return of 28.03% [2] - The "Ant Financial Gold Selection" equity fund has an average return of 29.75% year-to-date, surpassing the performance of the benchmark index [2] Group 2 - More than 80% of investors in equity funds on the Ant Financial platform have achieved profitability, with an average return of 12% for their holdings [2] - The probability of positive returns for investors holding the Gold Selection equity fund is 17% higher than for those holding non-Gold Selection funds, with a return rate that is 7.8% higher [2] - The performance of actively managed equity funds is attributed to both the overall market recovery and the ability of fund managers to generate excess returns [2] Group 3 - Three key investment behaviors have been identified that significantly enhance profitability: diversified allocation, reasonable holding periods, and product selection [4] - Investors who effectively manage their stock-bond allocation have a 6% higher probability of profitability compared to those holding a single asset [5] - Historical data shows that a classic stock-bond combination of 20% stock funds and 80% bond funds yielded an 11.85% cumulative return with a maximum drawdown of only 5.04% during market transitions [5] Group 4 - Investors focusing on long-term stable products tend to achieve better returns than those chasing annual "champion funds," with the Gold Selection equity fund yielding 124.41% since 2019 compared to 95.86% for champion funds [6] - The stability of excess returns, consistency in investment style, and stable management scale are crucial factors for investors when selecting products [6] - Healthy and rational investment behaviors are emphasized as essential for smoothing out the volatility associated with high-risk investments, thereby increasing overall profitability [6]

Core Insights - The A-share market's upward trend has led to a significant recovery in the performance of active equity funds, with 90% of funds exceeding last year's net value [1] - Over 2.15 billion investors have achieved cumulative profits, excluding the returns from Yu'ebao, covering both active equity and passive index funds [1] Group 1: Fund Performance - More than 80% of equity fund investors have made profits this year, driven by the rise in the A-share market, with an average return of 28.03% for active equity funds [3] - As of September 12, the CSI 300 index has increased by 15.2% this year, with 80% of active equity funds outperforming the market [3] - The "Ant Financial Gold Selection" equity fund has an average return of 29.75%, surpassing the performance of the benchmark index [3] Group 2: Investment Behavior - Three key investment behaviors have significantly improved profitability for investors: diversified allocation, reasonable holding, and product selection [6] - Investors who effectively manage stock-bond allocation have a 6% higher probability of profit compared to those holding single assets [6] - Historical data shows that a classic stock-bond combination of 20% stock funds and 80% bond funds yielded an 11.85% return with a maximum drawdown of -5.04% from April 2019 to February 2022 [6] Group 3: Product Selection - The choice of investment products directly impacts the holding experience, with long-term stable products generally providing better returns than chasing annual "champion funds" [7] - Since 2019, the "Gold Selection" equity fund has achieved a return of 124.41%, compared to 95.86% for those who bought "champion funds" annually [7] - Investors should focus on the stability of excess returns, consistency in investment style, and stable management scale when selecting products [7]

Core Insights - The A-share market has shown a significant recovery, leading to impressive performance from actively managed equity funds, resulting in increased profits for investors [2][3] - As of September 19, 2023, 215 million investors on the Ant Fund platform have achieved profitability, with over 80% of equity fund investors making gains this year [2][3] Fund Performance - Since March 2023, actively managed equity funds have demonstrated substantial excess returns, becoming the main driver of investor profits [3] - The CSI 300 Index has risen by 15.2% year-to-date, while actively managed equity funds have outperformed this benchmark, with an average return of 28.03% [3] - The "Ant Financial Selected" equity funds have achieved an average return of 29.75%, surpassing both the CSI 300 Index and the CSI Equity Index [3] Investor Behavior - Investor behavior significantly impacts profitability, with strategies such as diversification, reasonable holding periods, and product selection enhancing profit probabilities [4][5] - Investors who diversified their portfolios experienced a 6% higher probability of profitability compared to those holding single assets [5] - Consistent investment strategies, such as dollar-cost averaging and buying during market dips, increased profitability probabilities by 17% and 18%, respectively [5] Market Outlook - Analysts suggest that structural opportunities in the A-share market remain significant, particularly in sectors like consumer upgrades, technological innovation, and green energy [6] - The market's cyclical nature necessitates investor rationality and patience, as the recovery phase presents both opportunities and challenges [6]

Core Insights - The article highlights that 80% of equity fund investors on the Ant Fund platform have achieved profits this year, driven by the overall recovery of the A-share market and the performance of active equity funds [2][4]. Group 1: Market Performance - The A-share market has seen a significant rise, with the CSI 300 Index increasing by 15.2% year-to-date, and over 80% of active equity funds outperforming the market, with an average return of 28.03% [2]. - The "Ant Financial Gold Selection" equity fund has an average return of 29.75% this year, surpassing the performance of similar index funds [2]. Group 2: Investor Behavior - Three key investment behaviors have been identified that improve profitability for investors: diversification, reasonable holding, and product selection [4]. - Investors who maintain a balanced stock-bond allocation have a 6% higher probability of profitability compared to those holding a single asset [4]. - Historical data shows that a classic stock-bond combination of 20% stocks and 80% bonds yielded a cumulative return of 11.85% with a maximum drawdown of only 5.04% during market transitions from April 2019 to February 2022 [4]. Group 3: Investment Strategies - Regular investment strategies, such as dollar-cost averaging, significantly enhance profitability, with those who consistently invest during market dips having a 17% higher probability of profit [4]. - The article emphasizes the importance of selecting long-term stable products over chasing annual "champion funds," with the "Gold Selection" equity fund yielding 124.41% since 2019, compared to 95.86% for those who pursued "champion funds" [5].

Group 1 - The core viewpoint is that the A-share market's upward trend has led to a significant recovery in the performance of active equity funds, with 90% of funds exceeding last year's net value [1][3] - As of September 12, the CSI 300 index has risen by 15.2% this year, with over 80% of active equity funds outperforming the market, achieving an average return of 28.03% [3] - The "Ant Financial Gold Selection" equity fund has an average return of 29.75% this year, outperforming the benchmark index for similar funds [3] Group 2 - More than 80% of investors in equity funds on the Ant Financial platform have achieved profitability, with an average return of 12% for their holdings [3] - The probability of positive returns for the Gold Selection equity fund holders is 17% higher than that of non-Gold Selection fund holders, with a 7.8% higher holding return rate [3] - The performance of active equity funds is attributed to both the overall market recovery and the ability of fund managers to generate excess returns [3] Group 3 - Three investment behaviors have significantly improved profitability for investors: diversified allocation, reasonable holding, and product selection [4] - Investors who effectively manage stock-bond allocation have better overall experiences and more stable long-term returns compared to those holding single products [4] - Historical data shows that a classic stock-bond combination of 20% stock funds and 80% bond funds yielded an 11.85% return with a maximum drawdown of -5.04% from April 2019 to February 2022 [5] Group 4 - Regular investment strategies like dollar-cost averaging can effectively smooth out market volatility, with users who adhere to these strategies having a 17% higher probability of profitability [5] - The choice of investment products directly impacts the holding experience, with long-term stable products generally providing better returns than chasing annual "champion funds" [6] - Since 2019, the Gold Selection equity fund has achieved a return of 124.41%, compared to 95.86% for those who consistently bought "champion funds" [6]

Core Viewpoint - The mutual fund distribution industry is facing a critical transformation, emphasizing the need for enhanced professional services and increased information transparency to rebuild investor trust [1][2][12]. Group 1: Industry Challenges - The star fund manager sales model has faced backlash as investors express dissatisfaction, leading to significant redemptions despite strong fund performance [1][3]. - Fund distribution institutions are criticized for promoting "hot" funds, contributing to investor losses and eroding trust [1][2]. - The upcoming 2025 reforms in the mutual fund industry present a pivotal moment for fund distribution institutions to balance profitability and responsibility [1][12]. Group 2: Regulatory Developments - The China Securities Regulatory Commission (CSRC) has approved the establishment of a wholly-owned subsidiary by E Fund Management, focusing on buy-side investment advisory services [3][12]. - The CSRC's recent action plan aims to establish a classification evaluation mechanism for fund sales institutions, incorporating investor profit and holding period into the assessment [11][12]. Group 3: Transformation Initiatives - Fund distribution giants like China Merchants Bank are reforming their sales models, introducing risk parity strategies and comprehensive asset allocation solutions [2][6]. - The "TREE Long-term Profit Plan" by China Merchants Bank aims to enhance investor experience through dedicated advisory services and diversified asset allocation [6][7]. - Ant Group has updated its fund entry rules and launched the "Index+" platform, reflecting a shift towards more structured fund offerings [8][9]. Group 4: Performance Metrics - Data from the China Universal Wealth Management platform indicates that accounts utilizing investment advisory services have outperformed traditional fund accounts by significant margins over various time frames [4]. - E Fund's investment advisory service has achieved a 70% profitability rate among clients since its launch, with an 85% growth rate projected for 2024 [4][10]. Group 5: Future Outlook - The mutual fund advisory pilot program is seen as a crucial exploration for the transformation of China's wealth management market [5][12]. - The industry is expected to shift from a sales-driven model to a focus on long-term investor profitability, necessitating a re-evaluation of performance metrics and service offerings [11][12].