基金公司向现代财富管理机构转型有着广阔的发展空间，基金公司应放眼整个资产管理市场，立足于满足多样化的投资者需求，不断提高自身的竞争力和吸引力，以创新建立一个强大的财富管理行业。

Fund company to modern wealth management institution transformation with broad space for development，Fund company should look to the whole asset management market，Based on the diversity of meet the demands of investors，Improve their own competitiveness and attractive，Innovation to establishing a strong wealth management industry。

　　一、基金公司未来发展方向更加明晰 a、Fund company development direction in the future is more obvious

　　从基金到信托计划到银行理财，从投资连接保险到天使基金和阳光私募，再到各种各样的资产管理公司，财富管理行业虽然弱小，存在的条块分割、规模偏小、服务能力不足的情况，但财富管理生机勃勃，蕴藏着巨大的市场潜力。目前基金在财富管理中占的比例较低，尽管近几年业绩不佳，美誉度下降，但基金行业在投资管理和客户服务方面仍具备很强的竞争优势。日前央行发布的《2012年第2季度储户问卷调查报告》称，基金和理财产品依然是居民最偏爱的投资方式。基金公司未来向现代化、多元化资产管理公司发展方向更加明晰，基金向现代财富管理行业转型具较坚实的基础。

To the trust fund from plan to bank financing，From investment join insurance to angel fund and sunshine private，To all kinds of assets management company，Wealth management industry though weak，Existing intersected、The small scale of、The shortage of service ability，But wealth management vitality，Holds enormous market potential。Current fund in wealth management accounts for less than，Although no good achievements in recent years，Reputation drop，But the fund industry in the investment management and customer service is still have strong competitive advantage。Recently released by the central bank《Second season in 2012 savers questionnaire survey report》says，Fund and financial products is still the most preferred investment way residents。Fund company to future modernization、Diversified asset management company development direction is more obvious，Fund to the modern wealth management industry transition with a solid foundation。

　二、基金向现代财富管理行业转型空间打开 two、Fund to the modern wealth management industry transformation of open space

　　证监会近期不断优化有利于行业发展的外部环境，如配合立法机关加快《证券投资基金法》的修订，争取在拓宽基金公司业务范围、扩大基金投资标的、松绑投资运作限制、优化公司治理、规范行业服务行为等方面取得突破性进展。6月提交全国人大常委会审议的证券投资基金法修订草案适当放宽了有关基金投资、运作的管制，增加了理事会型和无限责任型两种新的基金组织形式，强化对基金管理人的监督，完善了基金运作的激励和约束机制。

CSRC constantly optimize the recent development of the industry to the external environment，As with the legislature to speed up《Securities investment funds》revision，For the widening the scope of business of the company、Expand the fund investment targets、Easing restrictions of investment operations、Optimization company governance、Standard industry such as the service behavior made breakthrough progress。June of the standing committee of the National People's Congress to submit amendments to the securities investment funds properly relaxed about the fund investment、Operation regulation of the，Increases the type and the infinite council responsible two new fund form，To strengthen the supervision of the fund manager，Improve the operation of the fund incentive and restraint mechanism。

　　此外，证监会就《证券投资基金管理公司管理办法》修订草案开始征求意见，其中基金公司持股5%以下股东的审核将予以取消，同时，单个股东的持股比例也放宽到50%以上，并将主要股东的持股锁定期由1年延长为3年，这些都为今后专业人士持股以及基金公司上市预留法律空间；拟修改的《基金管理公司特定客户资产管理业务试点办法》及其配套规则，有意允许基金公司开展专项资产管理计划，投资非上市公司股权、债权、收益权等资产，这也标志着公募基金公司投资范围将会从传统的二级市场投资向PE和创投业务扩张。 这些不断优化基金行业发展的外部环境的措施为基金公司向现代化、多元化资产管理公司发展起到重要推动作用。

In addition，CSRC will《Securities investment fund management company management approach》Draft began to ask for advice，One fund company holding less than 5% of the shareholders of audit will be revoked，At the same time，A single shareholder holding ratio also eased to 50% above，And major shareholders holding regular lock by 1 year extended to 3 years，All of these professionals shareholding in the future and fund company listed obligate space law；Intends to modify the《The fund management company specific measures for trial the customer asset management business》And related rules，To allow fund companies to carry out special asset management plan，Private equity investment company、Creditor's rights、Usufruct of assets such as，It also marked the public enlisting fund company investment range will from the traditional 2 class market to PE and venture investment business expansion。 These constant optimization fund industry development of the external environment of the measures for the modernization of fund company、Diversified asset management company development has played an important role。

　三、基金公司将面临较大挑战 three、Fund company will face bigger challenge

　　1、基金法等制度的修订为基金公司积极向现代财富管理行业转型提供了制度上的保障，打开了更广阔的空间，但竞争也将更加激烈。

1、Such as the revision of the law system for fund company actively to modern wealth management industry transition provides of protection of the system，Open more space，But competition will be more intense。

　　基金法等法律法规的修订构建了资产管理行业的大格局，整个资产管理行业将发生很大变化，这有利于行业的长远发展，但打破条块经营、条块监管的格局，各类机构在同一个平台上竞争，这些也都意味着竞争将更加激烈。从事资产管理机构间的壁垒将被打破，以前私募能做的，现在公募基金也能做，公募基金行业的进入门槛降低，未来私募也可进入公募领域；投资范围放大，不同机构之间的业务拓宽了，基金专户也可以做股权投资；未来资产管理业务与产品会更丰富，各类机构之间经营范围没有严格区分，私募在纳入监管后将“名正言顺”地进行资产管理，这意味着在统一的资产管理平台上更大的竞争，基金公司需做好各项准备，抓住机遇，迎接挑战。

Law and other laws and regulations for the revision of the constructing the great pattern of asset management industry，The whole asset management industry will change greatly，This is helpful for the long-term development of the industry，But break existing business、How the pattern of supervision，All kinds of institutions in the same platform in the competition，These are also means that competition will be more intense。Engaged in asset management institution of the barriers between will be broken，Before the private can do，Now public enlisting fund can do，Public enlisting fund industry the entry threshold reduced，The future private also can enter public offering field；Investment range amplification，Different agencies business between widened，Fund only door also can do the equity investment；The future the asset management business and product will be more abundant，All kinds of institutions without strict distinction between business scope，Private incorporate the supervision will be after“Perfectly justifiable to”Land in the asset management，This means that in the unity of the asset management platform more competition，Fund company need to do well prepared，Seize the opportunity，Meet the challenges。

　　2、在巨大的发展空间面前基金行业还存在经验和人才不足和品牌的缺乏。

2、In the huge development space there before the fund industry experience and talent shortage and the lack of brand。

　　向现代财富管理行业转型为基金投资提供了较广的投资范围，但公募基金公司确乏相应的人才、经验、制度甚至品牌。特别是对于有生存经营压力的中小公司来说，寻求适合其公司发展的突破口尤为关键。另外，新业务的开发存在一定的风险，如何在开发新业务的同时加强新业务的风险识别和风险控制将是个新的课题，否则基金公司在新业务开发中将付出较大的代价。

To modern wealth management industry transition to the funds investment provides a wide range of investment，But public enlisting fund company lack of corresponding that talent、experience、System even brand。Especially for the survival of small and medium-sized companies, operating pressure，Look for the breach of the development of the company was key。In addition，The development of new business, there are certain risks，How to develop new business in the new business and strengthening of risk identification and risk control will be a new topic，Otherwise fund company in new business development will pay the price of larger。

　　在向现代财富管理行业转型、构建资产管理行业的大格局的环境中，各类机构在同一个平台上竞争，人才的竞争将更加激烈，人才流失问题会更加突出，会成为基金公司转型的瓶颈。而解决人才流失的问题，合理有效的激励机制是根本。

In the modern wealth management industry transition、Constructing asset management business of the pattern of the environment，All kinds of institutions in the same platform in the competition，Talent competition will be more intense，The brain drain problem will become more prominent，Will become the bottleneck of fund company transformation。To solve the problem of brain drain，Reasonable effective incentive mechanism is basic。