21st Century Business Herald reporter Song Weixuan Shanghai Report On September 17, the 2021 China Asset Management Annual Conference, hosted by 21st Century Business Herald and co-sponsored by Shanghai Pudong Development Bank, was held at the W Bund Hotel in Shanghai. With the theme of "New Economic Momentum, New Trends in Asset Management", the annual meeting focused on the development status and future trend of China's asset management industry under the new asset management regulations, and discussed how China's asset management industry can shoulder a major mission while realizing its own transformation. Li Wen, chairman of Hui Tianfu Fund, made a wonderful speech at the roundtable meeting of "The Big Picture Opens, Asset Management Is New".
Li Wen believes that China's asset management industry is entering a new stage of high-quality development, and will continue the trend and characteristics of three aspects in the future:
On the one hand, the scale of management continues to grow. With the introduction of the new asset management regulations, the asset management industry has achieved structural adjustment and maintained stable growth in the past four years. In the future, with the growth of residents' wealth, the improvement of financial awareness, the regulation of "housing and not speculation" and the deepening of new asset management regulations, Li Wen believes that the asset management industry will usher in a golden age of development, and the management scale will maintain rapid and stable growth, and is expected to reach 200 trillion yuan in 2025.
On the one hand, the industry pattern continues to be optimized. The first is the optimization of institutional formats. With the transformation of product net worth, asset management formats with active management advantages will have stronger competitive advantages. Li Wen pointed out that in the past four years, the proportion of public funds in the entire asset management industry has risen from 15% in 2017 to 25% in June 2021. At the same time, as a new force, bank wealth management sub-sector has transformed and developed in the process of exploration and has become an important participant in the asset management industry. The second is the optimization of asset types. As the risk-free rate of return continues to decline, the capital market reform continues to deepen, and the concept of value investment and asset allocation continues to increase, risk assets such as equity assets will become an important part of asset allocation.
On the other hand, the cooperation between the same industry continues to deepen. Li Wen pointed out that different types of asset management institutions have different resource endowments and professional capabilities, and are gradually forming a differentiated division of labor around customer needs to achieve win-win cooperation. For example, bank wealth management has strong channels, customers and brand advantages, insurance asset management has strong asset allocation capabilities, and public funds have accumulated a deep foundation in active management, especially equity investment. Asset management institutions can actively cooperate with each other, especially in the fields of pension finance, green finance and digital finance, and cooperation will become the norm in the entire asset management industry.
Looking forward to the future, Li Wen pointed out that Hui Tianfu will focus on the above three trends and characteristics, follow the "keep the original intention, practice internal skills, and excellent service" proposed by Chairman Yi of the China Securities Regulatory Commission, and strive to achieve high-quality development, including the following four aspects of work:
First, based on professionalism, continue to consolidate multi-asset management capabilities. Including continuing to strengthen the advantages of active equity investment, continuing to lay out fixed income underlying assets with clear style labels, vigorously promoting the operation of featured industry index ETF products, constantly improving the characteristic strategy system such as fundamental hedging and fundamental index enhancement, and innovating to carry out equity investment, public reiTs and other businesses.
The second is to optimize services and continuously improve the multi-level service system. Including deepening channel cooperation, through continuous marketing and joint operation to carry out investment advisory services; optimize the functional experience of CashPal's own platform, further strengthen cooperation with third-party fund sales and wealth management platforms; upgrade multi-strategy asset and customer management systems, and deepen the depth of institutional customer service.
The third is to embrace change and continue to carry out business and product innovation. Including accelerating the construction of the ESG investment and research system, helping to develop green finance, and better serving the dual-carbon target; accelerating the development of investment advisory business, actively participating in the construction of the three pillars of pension, and contributing to the strength of the fund for the pension finance; accelerating the promotion of the international layout and improving the global asset allocation capabilities.
The fourth is to practice internal strength and continue to enhance the company's core competitiveness. Including continuously optimizing corporate governance, vigorously promoting team building, actively improving organizational management, inheriting and developing corporate culture, etc. Hui Tianfu's year number this year is "Digital Improvement Year", which will take digitalization as the starting point to comprehensively consolidate the company's core capabilities and core competitiveness.
New era, new opportunities, new mission. Li Wen is full of confidence in the development of China's asset management industry, and believes that the future has huge development opportunities and broad development space, and all kinds of asset management institutions need to work together to achieve win-win cooperation and jointly assume the responsibility and mission of the asset management industry in the new era.
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