Banking Association Liu Feng: Financial management companies urged to improve investment research capabilities and asset allocation
China Securities Network News (Reporter Zhao Baizhinan) – Liu Feng, secretary-general of the China Banking Association, emphasized the need for wealth management companies to enhance their investment research capabilities and strengthen asset allocation in order to compete in the current market environment. Speaking at the 2023 Qingdao China Fortune Forum on July 8, Liu Feng highlighted the challenges faced by wealth management companies, including competition from public funds, private funds, and securities companies, as well as the impact of low interest rates.
Liu Feng called for wealth management companies to prioritize top-level design and focus on improving their investment research capabilities. In order to address the challenges posed by the net-value transformation of wealth management products, he stressed the importance of establishing a comprehensive investment research support system that encompasses macroeconomics, industry frameworks, stock research, and asset allocation. Professional talents are seen as crucial for improving investment research capabilities, and efforts should be made to allocate human resources effectively and promote talent system development.
Another key area of focus highlighted by Liu Feng is the establishment of a multi-category asset allocation strategy, particularly with regards to global asset allocation capabilities. He stressed the need for wealth management companies to adopt diversified asset allocation thinking, building investment portfolios that maximize returns throughout economic transformation cycles. With the complex global economic situation, global asset allocation has become a trend. By diversifying assets overseas and within regions, investors can safeguard their investment income and preserve and appreciate asset value during economic downturns.
Liu Feng also emphasized the importance of innovation in wealth management products and the enrichment of wealth management product systems. He suggested conducting research and development to create characteristic products that align with regional characteristics, thus creating competitive advantages. In addition, catering to the diverse investment needs of customers, expanding the scope of underlying assets, and enhancing research and development capabilities for industry-themed products, equity products, multi-strategy products, cross-border investment products, and alternative products will provide investors with more diversified investment options.
Lastly, Liu Feng advised wealth management companies to embrace technological advancements and the era of digital wealth management. By optimizing the application scenarios of wealth management products and developing infrastructure such as asset management systems and robo-advisors, service efficiency, financial security, and customer experience can be improved. Integrated operations, digital transformation capabilities, and electronic management of financial business processes can reshape the financial product system.
In conclusion, Liu Feng highlighted the need for wealth management companies to adapt to the evolving market environment by improving investment research capabilities, strengthening asset allocation, innovating wealth management products, and embracing technology. These measures, according to Liu Feng, will enhance the competitiveness of banks’ wealth management services and enable them to better serve their customers.
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