What Tianhong, of Southern Fund, said: The reform of public fund sales fees is prompting the industry to pay more attention to equity assets.

On September 24th, at the 2025 China Securities Industry Wealth Brokerage Summit co-hosted by Securities Times and Southern Fund, He Dianhong, the fund manager of the Index Investment Department of Southern Fund, stated that the number and scale of ETFs have grown significantly in recent years, and large asset managers should focus on filling gaps in their product lines, while smaller asset managers tend to focus on boutique offerings. Product development should be based on industry trends, investor long-term philosophies, and satisfaction, with the core goal of enhancing investor value. He also mentioned that Southern Fund has shifted its focus from "heavy issuance" to "heavy operation", building a complete strategic system to provide long-term support. From a customer perspective, He Dianhong believes that customer attributes should be integrated into their entire life cycle investment planning, aligning strategy supply with specific scenarios to enhance product suitability. In addition, the reform of public fund sales expenses is pushing the industry to pay more attention to equity assets.