Home » Jiang Xiangyang, Chairman of Bosera Fund: Practicing high-quality development and striving to be a leader in the asset management industry

Jiang Xiangyang, Chairman of Bosera Fund: Practicing high-quality development and striving to be a leader in the asset management industry

by admin
Jiang Xiangyang, Chairman of Bosera Fund: Practicing high-quality development and striving to be a leader in the asset management industry

□ Adhere to the interests of investors as the core, the fundamental method is to balance risks and returns, provide investors with long-term and stable returns, and share the dividends of economic growth. This is also the fundamental purpose of public funds to achieve high-quality development

□ Fundamental research is the source of return on investment.As institutional investors gradually dominate the market, the acquisition of excess investment returns increasingly depends on the investment system and system of fund companies

□ Fulfilling social responsibility is the foundation, foundation and source of motivation for the development of public funds.Public funds must actively obey the national strategy, serve the real economy, fulfill social responsibilities, and achieve a sustainable win-win situation between industry development and customer value growth

Chen Tanran, a scholar in the Qing Dynasty, famously said: “Those who do not seek the world are not enough for a moment; those who do not seek the overall situation are not enough for a field.” In the opinion of Jiang Xiangyang, chairman of Bosera Fund, a high position can lead to a large pattern; a clear thinking , in order to be clear.

The asset management scale has exceeded 27 trillion yuan, and public funds have entered the center of the asset management stage. After the scale increases, it is imperative to pursue high-quality development.

Jiang Xiangyang believes that in order to practice high-quality development of public funds, it is necessary to understand the capital market in a new stage and a new pattern, to examine itself in the context of the growth of residents’ wealth, and to focus on core capabilities from the strategic height of the long-term development of enterprises. Construction, we must stand in the general trend of social development to fulfill social responsibilities.

Looking forward to planning asset management articles

In 1998, in the aftermath of the Asian financial crisis, Chinese public funds quietly set sail. On July 13 of that year, Bosera Fund was established, becoming one of the first five fund management companies to be established.

Time flies, and 24 years pass by in a flash. The number of public fund products has exceeded 10,000, and the total scale of industry asset management has exceeded 27 trillion yuan, becoming the backbone of serving residents’ wealth management.

In 2014, the State Council issued “Several Opinions on Further Promoting the Healthy Development of the Capital Market” to promote the development of the capital market to a higher level. Jiang Xiangyang, who is sensitive to the general trend of social development, realizes that economic construction needs to develop direct financing and capital market, and it is necessary to establish an effective, transparent and fair capital market, so he joined the capital market and joined Bosera Fund.

According to public data, when Jiang Xiangyang took over as general manager in 2015, the total asset management scale of Bosera Fund was more than 300 billion yuan. As of June 30, 2022, the scale of comprehensive management assets of Bosera Fund has approached 1.8 trillion yuan.

In April this year, the China Securities Regulatory Commission issued the “Opinions on Accelerating the High-quality Development of the Public Fund Industry” (hereinafter referred to as the “Opinions”). The “Opinions” pointed out that at a new stage of development, we must closely focus on the main line of promoting the high-quality development of the public fund industry, further deepen reforms, steadily promote regulatory transformation, and accelerate the construction of a new development pattern for the public fund industry.

In Jiang Xiangyang’s view, after the explosive growth of asset management scale, it is right for public funds to pursue high-quality development. As the backbone of serving residents’ wealth management, public funds must serve the reform and development of the capital market, serve residents’ wealth management needs, and serve the real economy and national development strategies. “As a representative of inclusive finance, through value investment and long-term investment, while optimizing resources to promote high-quality development, public funds should also provide high-quality investment returns and services to help ordinary investors share the fruits of economic growth and high-quality corporate growth, and promote Common prosperity.”

See also  Actions Technology Announces Online Issuance Winning Rate_ Securities Times

How to practice high-quality development? Jiang Xiangyang said that with the interests of investors as the core and the direction of serving the real economy and technological innovation, the competitiveness of investment research, service, technology, talent and culture should be improved. On the one hand, Bosera Fund must stick to its original intention, continue to improve its investment capabilities, and strive to be a leader in the asset management industry. On the other hand, in accordance with the general requirements of China Merchants Group on the construction of “three capabilities”, we will continue to promote model innovation.

Taking innovation-driven as an example, it refers to value creation as the orientation, cultivating new growth points, continuously improving independent innovation capability and core competitiveness, and creating a competitive advantage in line with its own resource endowment.

Jiang Xiangyang said that the series of subsidiaries that Bosera Fund has established and are planning to establish will focus on business lines with strategic development value:

First, publicly offered REITs subsidiaries. The public offering of REITs subsidiaries not only conforms to the encouragement direction of regulatory policies, helps to revitalize existing infrastructure assets, but also plays the role of managers in “raising, investing, managing, and withdrawing” to better create returns for investors.

The second is equity investment in subsidiaries. At present, Bosera Innovation Company has been established to actively carry out private equity investment business, and continue to make efforts in integrated circuits, new energy and new energy vehicles.

The third is the fund sales subsidiary. At present, Bosera Fund has obtained the pilot qualification of public fund investment consulting business and the license of fund sales business.

The fourth is to optimize international business, enrich product lines, and enhance market competitiveness.

Fifth, develop pension business. At present, the market-oriented investment and operation scale of pension funds is nearly 9 trillion yuan, and the management scale of Bosera Fund exceeds 300 billion yuan. Judging from international experience and the development of my country’s pension asset management industry, professional pension financial service companies have great potential for development.

Investors come first to meet residents’ wealth management needs

The “Opinions” pointed out that it is necessary to adhere to the interests of investors as the core, correctly handle the relationship between scale and quality, development and stability, efficiency and fairness, high growth and sustainability, and earnestly achieve the development of the industry and the interests of investors. .

Jiang Xiangyang said that adhering to the interests of investors as the core, the fundamental method is to balance risks and returns, provide investors with long-term and stable returns, and share the dividends of economic growth. This is also the fundamental purpose of public funds to achieve high-quality development.

According to Jiang Xiangyang, in order to allow investors to obtain long-term and stable returns, Bosera Fund has done a lot of work. First of all, in terms of product supply, we will continue to create high-quality stock, debt, multi-asset, and market-wide products by focusing on building a broad-class asset allocation product system from a global perspective and a full-product chain supply system with a subdivision style to meet diversified demands. customer needs. Secondly, judging from the development status of the fund industry, the overall performance of equity funds is good, but investors have not received their due returns, partly due to the incorrect investment behavior of investors. Good fund profitability needs to be transformed into a good holding experience for customers through good service.

Jiang Xiangyang said that Bosera Fund carries out various forms of investor companionship, and outputs investment ideas, investment opinions, and research conclusions through text, audio, video and other three-dimensional and diversified methods, and timely answers investors’ concerns in different market environments. At the same time, through all-round investor education, popularize the concepts of long-term investment, rational investment and value investment, and improve investors’ financial quotient. In addition, it also makes full use of digital means to provide warm companionship through channels such as short videos and official accounts.

See also  2023 Beijing Sino-German Industrial Cooperation and Development Forum was held to discuss new opportunities for Sino-German industrial cooperation-China News

In terms of investment advisory services, Bosera Fund provides differentiated and omni-channel tiered investment advisory services through online + offline channels, creating a closed-loop investment advisory service of “good selection, accurate matching, and firm hold”. In the “investment” part, pay attention to using the strong investment and research capabilities of public offering companies to provide customers with tradable, trackable, and evaluable professional asset allocation solutions, and help more ordinary investors get a good profit experience. In the “Gu” link, help customers analyze the income and risk sources of the account, supplemented by investor education and professional advisory services, focus on the long-term, improve the customer’s investment behavior model, and help customers achieve long-term asset appreciation.

In recent years, the scale of public funds has grown explosively, but the competition has become increasingly fierce. How to break through the competition? Jiang Xiangyang believes that innovating business models is the key, providing all-round support in process optimization, team building and system support, creating an industry-leading customer service model in an in-depth and meticulous manner, and striving to provide customers with a good service experience. Combined with the market demand and the development goals of an all-round company, we will innovate products and business models, and create a large-scale asset allocation product system from a global perspective as well as a full product chain from wealth management to basic asset allocation.

Strengthen investment research and consolidate the foundation of life

For the asset management industry, performance is the last word, professionalism is the foundation of the financial industry, and investment and research capabilities are the housekeeping skills of the fund industry.

In Jiang Xiangyang’s view, fundamental research is the source of investment returns. As institutional investors gradually occupy a dominant position in the market, the acquisition of excess investment returns increasingly depends on the investment system and system of fund companies.

Jiang Xiangyang said that Bosera Fund established an integrated work model of investment and research earlier in the industry, and set up investment and research groups such as TMT, new energy, high-end equipment, emerging consumption, big health, and cycle, and related industry researchers and experts in this field. Fund managers with expertise in investment research are organized into various groups, and through high-frequency cooperation between the research team and the investment team, they conduct extensive discussions and output more practical viewpoints.

“In a market environment where institutional investors gradually dominate, public funds should firmly improve their investment and research capabilities through value investment and long-term investment, do a good job in risk pricing, and establish sustainable competitive advantages.” Jiang Xiangyang said, With the continuous increase in the number of listed companies, the market investment styles will become more diverse. However, the fundamental investment philosophy of adhering to value investment, insisting on fundamental research, and obtaining long-term growth returns of enterprises will not change.

In strengthening the implementation of investment research, Bosera Fund focuses on industry coverage and in-depth research, achieves full-scale coverage of macro, strategy, industry and company, and establishes a framework, system and logic for in-depth investment research. In addition, Bosera Fund takes effective measures to limit short-term gains such as “style drift” and “high turnover”, and does “difficult and correct things”. In terms of governance system, assessment model, incentive mechanism, etc., it reflects long-term investment, The concept of value investing.

Jiang Xiangyang said that under the background of scientific and technological innovation, the industry’s transformation has accelerated, which has put forward higher requirements for follow-up research. In addition, the strengthening of global capital market linkages, the increasing complexity of asset pricing, and the continuous expansion of fund scales have challenged the boundaries of fund managers’ individual capabilities. “The above two aspects put forward higher requirements for the effectiveness of the traditional fund manager responsibility system, which requires the establishment of team-based, platform-based and systematic investment and research capabilities, and strengthens the platform’s empowerment to individuals.”

See also  The central bank issued a document to guide the financial support for rural revitalization in 2022: strengthen the support of monetary policy tools and strengthen the protection of the rights and interests of rural financial consumers - Teller Report

For the asset management industry, talent is the most important resource. How to retain talent? Jiang Xiangyang said that doing a good job in the selection, breeding, and retention of outstanding talents is an important prerequisite for enhancing the competitiveness of talents. Bosera Fund adheres to the principles of professional talents and market-based pricing, and strives to strengthen the empowerment of the performance appraisal and incentive system to the organization. At the same time, do a good job in planning the career development path of employees, provide professional growth paths for professional talents, keep the upward path of talents smooth, and realize the unity of their own growth and company development.

Return to the source to fulfill social responsibility

Fulfilling social responsibilities is the foundation, foundation and source of motivation for the development of public funds. Jiang Xiangyang said that public funds must actively obey the national strategy, serve the real economy, fulfill social responsibilities, and achieve a sustainable win-win situation between industry development and customer value growth.

“Serving the national strategy and integrating into the overall development of rural revitalization, common prosperity, and coordinated regional development is not only the responsibility of public funds, but also the only way to open up space for industry development.” Jiang Xiangyang said that promoting the high-quality development of public funds is injecting new impetus In the critical period of new kinetic energy, we must take the responsibility of “development is my own”, actively provide personnel and financial support for the implementation of the national strategy, and contribute industry wisdom.

Jiang Xiangyang said that since its establishment more than 20 years ago, Bosera Fund has always adhered to responsible investment. As early as 2018, Bosera Fund joined the United Nations Principles for Responsible Investment Organization and became one of the first public funds in China that promised to systematically build an ESG investment research system.

At present, Bosera Fund has formed a full-process ESG investment management model that runs through the pre-investment, mid-investment and post-investment processes. For Bosera Fund, ESG investment and green investment have become an important part of the company’s development strategy.

At present, my country is vigorously promoting the “dual carbon” strategy. Jiang Xiangyang said that there are huge investment and development opportunities, and it is necessary to play the role of financial support. Taking climate change as the starting point, Bosera Fund has carried out work in an orderly manner from the aspects of risk management, opportunity identification, investment portfolio carbon accounting and management, active ownership, etc., and actively practices responsible investment, value investment and long-term investment to help sustainable economic development. .

In Jiang Xiangyang’s view, financial support for physical carbon neutrality is an important way to achieve the “dual carbon” goal. At present, Bosera Fund has officially launched the carbon neutrality plan, comprehensively promotes carbon emission measurement at the operational level, and simultaneously starts the climate risk assessment at the investment portfolio level. Based on the carbon emission data measurement of the invested companies, the establishment of climate risk assessment and management system.

At the end of the interview, Jiang Xiangyang said that looking forward to the future, Bosera Fund will actively respond to the direction of financial supervision that returns to its origins, and build a benchmark enterprise for digital asset management companies with “outstanding capabilities, innovation-driven, leading models, distinctive features, and value creation” ; Focusing on the strategic goal of “marketization, internationalization, full-function development, and building a high-quality, first-class modern asset management company”, we will consolidate our core competitiveness and continuously meet the growing diversified wealth management needs of the general public. A better life contributes to Bosera’s strength.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy