Following the disclosure of the semi-annual reports of listed companies, the “report cards” of several fund sales agencies for the first half of the year have surfaced. Many well-known consignment agencies, such as Ant Fund and Tiantian Fund, have performed well. Industry insiders believe that this is not only a beta brought by the market, but also an alpha brought about by the improvement in the operating capabilities of the consignment agencies themselves. The development of the industry has already shifted from “traffic competition” to “service competition.”

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