< img ALT = "Xiao Gang cwm50, member of the National Committee of the Chinese people's Political Consultative Conference and former chairman of the China Securities Regulatory Commission / picture provided" style = "width: 600px;" src=" https://imagecloud.thepaper.cn/thepaper/image/211/870/924.jpeg ">
Xiao Gang, member of the National Committee of the Chinese people’s Political Consultative Conference and former chairman of the China Securities Regulatory Commission (cwm50 / photo provided) < / P > on August 20, at the China wealth management 50 people forum (cwm50) At the 2022 summer summit, Xiao Gang, member of the National Committee of the Chinese people’s Political Consultative Conference and former chairman of the China Securities Regulatory Commission, said that the main problems in the transformation of China’s asset management institutions are unclear digital transformation strategy, low data quality, and backward technical structure. Talking about the digital transformation of China’s asset management institutions in the future, he believed that the values and culture of asset management institutions must be unified, and suggested to build an intelligent investment and research integration platform< Br > < div class = "height" > < / div > Xiao Gang pointed out that in recent years, China’s asset management market has developed steadily and achieved great results, and asset management institutions have also developed rapidly. Among the global top 500 asset management companies, there are 30 in China (14 public fund companies, 8 bank wealth management companies, 7 insurance companies and 1 securities company). These 30 Chinese asset management institutions are among the top 200, of which 8 are among the top 100< Br > < div class = "height" > < / div > Xiao Gang said that one of the most important indicators for evaluating a strong asset management institution is digital transformation. At present, the problems existing in the transformation of China’s asset management institutions mainly include the following aspects: < br > < div class = "height" > < / div > first, the digital transformation strategy is not very clear, especially the asset management institutions lack very clear thinking about their business positioning and planning< Br > < div class = "height" > < / div > Second, the data quality is generally low, including internal data and external data. There are many problems in governance< Br > < div class = "height" > < / div > Third, the business processes and application systems of asset management institutions are complex and separated from each other. Different business lines, business processes and operation systems are separated. Many institutions simply copy the original offline business to the online, and the business process and customer experience have not been improved< Br > < div class = "height" > < / div > Fourth, the technical architecture is backward. At present, many technical architectures are still using traditional relational data warehouses to study their correlation and mutual causality. However, many “high concurrency” and “high frequency” data need to be applied in a real-time, efficient and intelligent manner< Br > < div class = "height" > < / div > Xiao Gang believes that digital asset management mainly includes six parts: investment research, product management, marketing, risk management, customer management and operation. In the future, if the asset management institution is to become a head institution, it must realize a new form of asset management with data driving as the key, and change from the asset allocation based on expert experience to digital asset allocation< br>
“To enhance the core competitiveness of asset management institutions, we should adhere to ‘Asset Management + investment banking + science and technology’. The so-called asset management + investment banking is to take the new asset management business as the core and feature the boutique investment banking business. Asset management institutions are generally buyers. They should not only be buyers, but also develop their investment banking business and become the creators of products. Of course, all of these should take financial technology as the hub to realize digitization, intelligence and integration.” Xiao Gang said< Br > < div class = "height" > < / div > in the future, what measures should be taken for the digital transformation of China’s asset management institutions? In this regard, Xiao Gang suggested: < br > < div class = "height" > < / div > first, set the long-term strategic goal of digital asset management< Strong > the values and culture of an asset management organization must be unified, and if it is sustainable, it cannot be changed once in a team < br > < div class = "height" > < / div > Second, we should strengthen the construction of the data center. Through the construction of data center, the internal and external data are integrated to realize the online, centralized, standardized, labeled and Atlas of data< Br > < div class = "height" > < / div > the third is to create an intelligent investment research integrated asset management platform. To support the integration of investment research, product design, customer marketing, investment decision-making, and back-end operation, they should all operate on one platform. We should have a leading technical framework and data model to measure customer benefits and risks; Attribution of investment performance: where does the investment performance created by each product come from? A very detailed attribution analysis should be made; There is also the efficiency of transaction execution, that is, investment decision-making, transaction inquiry, quantitative transaction cost analysis, etc< Br > < div class = "height" > < / div > the fourth is to accurately portray and accompany customers. It is far from enough to accompany the growth of customers for a long time from the operation of current asset management institutions. How to accompany customers? When the market fluctuates, how to help the customer overcome the emotional fluctuations and accompany him to grow is crucial to the asset management institution< Br > < div class = "height" > < / div > finally, the training of digital asset management personnel. According to the individualized, dynamic and heuristic education mode, the whole asset management is from investment game to intelligent combination, from learning knowledge to learning tools, so as to better improve the quality of the asset management industry.