Editor's note:
The curtain of the golden age of public funds opened. In the just past 2021, the public fund industry has developed vigorously and made great progress, the market voice has been significantly enhanced, the management scale has exceeded 25 trillion yuan, the number of funds has exceeded 9000, and innovative products have been emerging. In 2022, the new year of renyin tiger begins. How can the public fund industry continue to embark on a new journey? Securities Times · securities companies specially planned the "fund navigator" column for the Chinese new year, inviting outstanding Chinese public offering pilots such as e Fangda, GF, huitianfu, Nanfang, China Merchants, ICBC Credit Suisse and China Europe Fund to talk about the new future.
The guest of this issue is Dou Yuming, chairman of China Europe Fund.
Excerpt from Dou Yuming's Views:
With the rapid development of asset management, "team" is becoming more and more important in active management, "individual cow man" will eventually be limited by the rapid growth of management scale, and must develop to the "golden team" that emphasizes teamwork.
Highly specialized division of labor and particularly good cooperation are mutually causal. Only by doing a good job in cooperation can we do a good job in division of labor and depth. Without "breadth brought by cooperation", there will be no "in-depth understanding".
▲ Dou Yuming, chairman of China Europe Fund
a message from Dou Yuming, chairman of China Europe Fund
Yin Hu celebrates the new year and everything is updated. on the occasion of the Spring Festival, on behalf of all colleagues of China Europe Fund, I would like to send my most sincere wishes to all holders, partners, friends who care about and support China Europe Fund, and readers of securities companies in China.
In the post epidemic era of 2021, China's asset management industry continues to develop greatly, the management scale of public funds has exceeded 25 trillion yuan, all kinds of asset management products have blossomed in an all-round way, innovative products have emerged one after another, repay holders with achievements, and further optimize the structure of market investors.
The prelude to the era of asset management in China has begun. Today, more investors regard public funds as long-term asset allocation, and the customer base has increased from tens of millions to hundreds of millions. This also makes public offering institutions face two challenges: the first is how to better serve such a large number of customers; Second, with the increase of equity fund management scale, how to supply high-quality products in large quantities. In this context, customer-centered, open cooperation and co construction of ecology have become a common consensus in the industry. For China Europe Fund, it will continue to polish its active management strength, actively embrace the new trend of asset management industry, keep up with the pace of the times and create long-term value for its holders.
Since its establishment 16 years ago, China Europe Fund has never stopped the pace of change. The investment and research team has constantly "evolved" to continuously optimize corporate governance and seek competitive excess returns in the way of efficient teamwork. The organizational structure of China EU fund has probably gone through three stages: the first stage, the business division stage. China Europe Fund has welcomed investment masters in the industry, and each investment master brings a small investment team. The second stage is to unify the research platform and one-way empowerment to support fund managers. The third stage is the cooperation structure of deep integration of investment and research, mutual two-way empowerment, common learning and common growth.
With the rapid development of asset management, "team" is becoming more and more important in active management, "individual cow man" will eventually be limited by the rapid growth of management scale, and must develop to the "golden team" that emphasizes teamwork. We hope that each investment researcher and fund manager will find their own field and make continuous improvement according to their own strengths and personality characteristics, It also lays a very good foundation for the "cooperation" to be done later. Highly specialized division of labor and particularly good cooperation are mutually causal. Only by doing a good job of cooperation can we do a good job of division of labor and depth. Without the "breadth brought by cooperation", there is no "deep understanding".
This is why China Europe Fund should focus on self-trained investment and research personnel, because after self-cultivation, the cooperation efficiency will be greatly improved, and we can give full play to the wisdom of the team, which is a very powerful force. The training logic of China EU foundation researchers is the same as that of bamboo shoots. The most important thing in the early stage is to take root in the soil of China EU and lay a good foundation. Once they break through the ground, they will cooperate with the team investors to grow rapidly and contribute research results. At the same time, the good exchange and sharing culture of China EU funds and the research efficiency of old and new efficient industrial chains will bring researchers greater and better growth space. In 2021, we are also pleased to see that the "Mesozoic" after self-cultivation has handed over a good answer and is beginning to emerge.
In the tide of the era of wealth management, China Europe Fund is also lucky to become a "trendsetter". With the efforts of the investment research team and all employees, China Europe Fund continues to create good long-term returns for its holders. According to the data of Haitong Securities Company Limited(600837) , by the end of 2021, the absolute rate of return of equity funds of China Europe Fund in the last decade ranked third among 64 public funds and second among 11 large fund companies; The absolute returns of equity funds in the last five years and the last seven years were 184.11% and 261.03% respectively, ranking second and fourth among the 11 large fund companies.
We believe that only based on the concept of long-term fundamentals can the capacity of investment strategies be maximized, and there are still opportunities to strive for good long-term investment returns in the case of large-scale funds, because the main source of income of such strategies is to share the value creation of enterprises. The number of excellent enterprises listed in China is increasing, and the track of sharing enterprise value creation is becoming wider and wider. The concept is clear, and the more difficult thing is to land. To turn the concept into a solid large-scale production capacity requires us to do a good job in process, team, system and other aspects with the spirit of craftsman. This is hard work and hard work, which requires a lot of time and sweat. Here, we also deeply thank every investor for their support and love.
don't forget your original heart and move forward bravely. in the new year, China and the EU will continue to fulfill their mission - sincerity, make life better, and cherish every trust with sincerity; Gather professional strength to create long-term value for the society and achieve a wonderful life. With practical actions, we constantly pursue our vision - to provide customers with excellent returns and services, and become the most trusted asset management company.
finally, I wish the majority of investors a vigorous and powerful new year!
Dou Yuming's personal profile
Mr. Dou Yuming is currently the chairman of China Europe Fund Management Co., Ltd. with 26 years of experience in asset management industry. He once served as the investment manager of Junan Securities Co., Ltd., the investment director of Harvest Fund Management Co., Ltd. and the general manager of Fuguo Fund Management Co., Ltd. He graduated from the school of economics and management of Tsinghua University with bachelor's and master's degrees in management information system and MBA from Tulane University.
