Because markets and channels deal with end customers, they will first put forward a product demand, market and channel feedback according to the needs of investors, because usually each fund company has a special product design department. After the market and channels put forward this demand, the product department will first negotiate with the investment research team according to this demand and the characteristics of today's market. If through their communication, what kind of product design do you think you can do at this time, a preliminary plan will come out. Usually, we design a plan with three to five alternatives. After it comes out, there will generally be a product committee within the company, which will be approved by everyone. After it is approved, it will enter the implementation stage of the specific details of the product, including the drafting of legal documents, because a product involves many contracts, and then we need to communicate with the custodian bank and listen to opinions.
Usually, when the product is approved by the product committee, the fund manager will be initially decided, because the fund manager is very important, that is to say, the design of a product involves simulated investment and empirical analysis, and the fund manager will participate in the preliminary design of the whole product, with many participants.
If this is completed, we will finally report it to China Fund Supervision and Management Committee. The regulatory authorities are very strict in approving products. At this time, the regulatory authorities will send a letter after approval, and then we will arrange the specific sales time. , including all marketing plans of previous products, will be reported to the CSRC for approval. Finally, after we determine the release time, we will report to the CSRC and get a reply, so that we can sell the products.