Guozheng Asset Management withdraws public offering license application, multiple securities firms' asset management have also withdrawn public offering license applications

The latest information disclosed by the China Securities Regulatory Commission shows that Guotou Securities Asset Management Co., Ltd. has disappeared from the list of "asset management institutions conducting public fund management qualification approvals." Previously, GF Securities Asset Management and Guangzheng Asset Management had also withdrawn their applications for public fund licenses. Currently, only Guojin Asset Management remains in the queue for a public license application. According to Wind data, as of the end of the third quarter, a total of 3 securities firms and 11 securities asset management institutions have been approved for public licenses, managing nearly 600 billion yuan in non-monetary fund scale. Industry insiders analyze that, on one hand, as of now, there are a total of 165 fund management companies and asset management institutions with public qualifications in China, and the "Matthew effect" in the industry is very obvious. From the perspective of homogeneous competition, the tightening of public license approvals also aligns with the current industry situation. In addition, against the backdrop of fee reductions, the income of some small and medium-sized fund companies has also been affected, and some securities asset management firms are considering other options for entering the public fund market