By Tang Guhan
The 20th anniversary of China's Fund Industry Summit was held in Suzhou City on Friday.
The meeting was sponsored by the China Securities Journal under the China Fortune Media Group as "Oscars" in China's fund industry and gave awards to the best fund companies and outstanding fund managers. The award-giving is in recognition of excellence in the financial industry and have been carried out for 15 years now.
China's mutual fund was born 20 years ago.
The Aegon-Industrial Fund, E Fund and another eight fund companies have been awarded as the best fund companies of the year.
"The research capabilities of asset management in banks need to be further improved," said Zhou Gengqiang, the vice secretary of the China Banking Association, "Banks should match wealth management products to appropriate customers. China Banking Association will continue in educating investors to get familiar with new policies in wealth management and assist the wealth management industry to better their services for the real economy."
Zhang Haibo, the chairman of the China Southern Fund, noted "fund managers sometimes have ignored the interests of their customers and only sought the scale of certain funds as well as the funds' ranking. Fund companies should provide customized products based on their customers' wealth and risks preferences, among others."
"AI and other cutting-edge technologies have posed challenges to redefine the work of fund managers and fund companies in the future," said Xiao Feng, the chairman of ZheShang Fund.
Tong Wei, the general manager of Hua An Funds, noted: "investors' interests should be the priorities for fund companies and they should provide professional services to investors."
"We need to educate investors about long-term investing habits in funds," said Kang Le, the general manager of the Invesco Great Wall Fund Management Co., Ltd.
"We can expect AI components to be utilized by fund companies in selecting stocks and funds in the future. Actually, we have seen many fund companies in London or other places set up subsidiaries dedicated to AI research," said an analyst from the UK.
