The toolization of investment becomes a new favorite. The controversy over the failure of fund labels.

With the recent boom in the technology market, high flexibility tool-type fund products focusing on specific segments have quickly become the "sharp spear" in the hands of a new generation of internet investors, receiving enthusiastic attention. Actively managed funds with more flexible holdings are actively involved in the toolization transformation, in order to facilitate investor selection, labeling products has become a common practice in the industry. However, under compliance constraints, due to lagging position disclosure, some actively managed funds have experienced discrepancies between product labels and actual investment operations, sparking discussions among investors. Industry insiders warn that labels of active products often stem from historical holdings, with a relatively lagging timeliness, which may not ensure that investors get what they see, and inconsistencies could lead to a negative holding experience. In the eyes of investors, the next step in the toolization of actively managed funds lies in making deeper research, such as whether they have sector rotation capabilities within the same track, alpha stock selection capabilities within the sector, and fine management abilities; alpha is the core competitiveness of actively managed funds.