With the increasing Matthew effect in the industry, small and medium-sized fund companies have been caught in a marketing dilemma since the beginning of this year.Focusing on the long-term, industry insiders believe that it is the right way for small and medium-sized fund companies to seek differentiated development to increase the creation and continuous marketing of high-quality products in the off-season, cultivate internal strength, and prepare for the future.
Since the beginning of this year, the continuous adjustment of the market has caused the fund issuance market to encounter a "freezing point". The hot issuance in the past two years has ceased to exist, and the fund sales market has been exhausted.Data shows that in the first five months of this year, 571 funds were newly established in the whole market, with an issuance scale of 449.137 billion yuan, a new low for the same period in the past three years. The issuance scale in the same period last year was 1.3 trillion yuan.
With the increasing Matthew effect in the industry, small and medium-sized fund companies have been caught in a marketing dilemma since the beginning of this year.Focusing on the long-term, industry insiders believe that it is the right way for small and medium-sized fund companies to seek differentiated development to increase the creation and continuous marketing of blue-chip featured products in the off-season, cultivate internal strength, and prepare for the future.
Shrink the front and prepare for the future
In the off-season of new funds, shrinking the front has become a choice for some small and medium-sized fund companies to reduce costs and prepare for the future.
"According to market rules is the principle we have always adhered to in our operations. The fund sales market this year is not friendly to many small and medium fund companies, so we have changed our focus." said the head of the market department of Jiutai Fund.
Jiutai Fund is a public fund established in 2014, which belongs to small and medium-sized companies.The data shows that after launching eight funds last year, the company hit the pause button on new funds this year.In addition, 6 funds were liquidated due to the triggering of the contract termination clause or the approval of the holders' meeting, and the company's products were reduced to 26.
The short-term issuance difficulties did not dampen the confidence of Jiutai Fund.Instead, they decided to resort to roundabout tactics to preserve power."This year's focus is on the operation of surviving products and the maintenance of mini funds. It will be difficult in the short term, but it will definitely benefit from it in the future." said the above-mentioned person in charge.
Since the beginning of this year, there have been many cases of failed or delayed issuance among small and medium-sized fund companies.For example, Tongtai's independent innovation hybrid and Tongtai share, issued by Tongtai Fund, and the growth of Guojin issued by Guojin Fund, all ended in failure of issuance.
In this case, some small and medium-sized fund companies choose to retreat.According to the statistics of Geshang Research, as of June 21, the number of fund companies with zero newly issued funds this year was as high as 34, and the public fund management scale of these companies at the end of last year was less than 150 billion yuan, of which nearly 60% were managed by companies. The scale is less than ten billion yuan.
Lan Xuan, senior analyst at Kaishi Wealth Financial Products Research Center, said that since the beginning of this year, the equity market has continued to adjust, and the difficulty of new fund issuance has increased significantly.For small and medium-sized fund companies, instead of investing a lot of energy to do new projects with twice the result with half the effort, it is better to retreat as the advance, and achieve more with less effort by shrinking the front.Such a strategy is conducive to reducing operating costs and exploiting late-mover advantages through intensive cultivation.
Create characteristic products and attach importance to continuous marketing
In the past two years, public funds have experienced explosive growth.According to data from the Asset Management Association of China, as of April this year, the scale of public funds has exceeded 25 trillion yuan, and the number of funds is nearly 10,000.However, behind the highlights is the waste of a large number of homogeneous products and industry resources.
Gao Yu, general manager of Taixin Fund, believes that although there is an exit mechanism, the problem of product convergence will be difficult to solve for a long time in the future.For small and medium-sized fund companies with fewer resources, it is obvious that there is no advantage in competing with large companies for new funds."If small and medium-sized fund companies want to break through, they must plan a differentiated development route and form certain comparative advantages in certain specific fields."
Since the beginning of this year, some small and medium-sized fund companies are no longer obsessed with the new development track, and put more energy into the continuous marketing of featured products and investor education.However, it's not really smooth sailing.Taking the development of fixed investment users as an example, thereporter learned that some small and medium-sized fund companies have added more than 100,000 fixed investment customers through the promotion of blue-chip funds.
A person from the marketing department of a fund company in Shanghai bluntly said that small and medium-sized fund companies are still in the development stage in terms of brands and channels, and the resistance encountered in the process of continuous product marketing is relatively greater.Since the beginning of this year, due to the rapid cooling of the demand side, the agency sales channel has raised the standard for the supply side, especially some Internet fund sales platforms, which are more focused on the performance and management capabilities of the products themselves.If there is no differentiated product available, it is futile to continue marketing to make achievements.
"Concentrating on major events and focusing on building competitive products is our work policy." The person in charge of the market department of Jiutai Fund said that in addition to focusing on fixed increase investment, quantitative investment business will be a business focus of the company, and more investment will be invested in allocation. many resources.
Zhang Fan, General Manager of Wealth Management Department (Preparation) of Western Profit Fund, believes that the competition in the industry is becoming more and more fierce, and small and medium-sized fund companies must have their own characteristics if they want to be recognized by customers and cooperation channels.The market is fair and equitable. As long as there are blue-chip products with distinctive styles, small and medium-sized fund companies can still win the favor of investors.
The relevant person from the marketing department of the above-mentioned fund company said that due to the high homogeneity of marketing in the fund industry, there are not many new marketing methods, and most of the current battles are resource consumption wars.For well-funded head fund companies, brand recognition and influence can be increased in a high-cost way.But for small and medium-sized fund companies, they should focus more on new media, such as using live broadcasts and short videos to attract investors' attention.
Since the beginning of this year, there are not a few small and medium-sized fund companies that have invested a lot of manpower and material resources in investment education and investor companionship.For example, Western Profit Fund has launched a series of online investment and education columns of "Xiaoxi Helps You Choose Funds" and the "Xiaoxi Long Journey" activity, providing multi-level and all-round services for front-line financial managers and holders.
Gao Yu said that Taixin Fund has increased continuous marketing efforts on the e-commerce side this year.On the one hand, continue to expand the influence of its "fist products"; on the other hand, actively carry out investment education, especially to strengthen the guidance of ordinary investors to invest and the popularization of basic knowledge in popular industries."Although investment education and continuous marketing do not see obvious results in the short term, we believe that as long as we persist in doing the right things for a long time, sales will eventually have a day when they are accumulated."
Return to the Origin of Investment
The more severe marketing dilemma is only a short-term appearance. In the long run, the dilemma of small and medium-sized fund companies lies in how to achieve breakthroughs in the fierce industry competition.Good products with distinctive features are of course an important starting point for enhancing the effect of continuous marketing and even brand influence, but in the final analysis, it has to rely on solid investment and research strength.Recently, the regulatory authorities have also issued a document to reiterate the importance of investment research.
In April this year, the China Securities Regulatory Commission issued the "Opinions on Accelerating the High-quality Development of the Public Fund Industry".The "Opinions" pointed out that fund companies should focus on improving the core capabilities of investment and research, guide fund managers to build a team-based, platform-based and integrated investment and research system, increase the proportion of investment and research personnel, improve the echelon training plan for investment and research personnel, and do a good job in investment research. The accumulation and inheritance of research capabilities.
Qiji thousands of miles, not a day's work.Some small and medium-sized fund companies have made great efforts to improve their investment and research capabilities.
Gao Yu said that in the past two years, Taixin Fund has devoted a lot of resources to the investment and research team, established a market-oriented system in talent training and promotion, and strived to build an investment and research team with a complete echelon level and a long-term high-performance product-oriented investment and research team. The long-term goal is to make the company a research-driven platform.
It is worth noting that in recent years, some small and medium-sized fund companies have changed the assessment cycle of fund managers. While creating featured products, they tend to support products with excellent long-term performance.Wang Yu, deputy general manager of Western Profit Fund, said that after the recent publication of the "Guidelines for Performance Assessment and Remuneration Management of Fund Management Companies", the company will increase investors' sense of gain and other indicators to guide fund managers to focus more on long-term performance.
