CM BANK(SH:600036) Jing Ji Guan Cha Wang·2025-08-07 03:04Core Viewpoint - Morgan Fund Management (China) successfully raised nearly 2.8 billion yuan in a single day for its Morgan Yingyuan Stable Three-Month Holding Mixed FOF, marking it as the first FOF product to sell out in one day since 2025 [2][3] Fund Details - The fund's fundraising period was originally set to end on August 22 but was closed early on August 4 due to high demand, with a final size of 2.752 billion yuan [3][5] - The fund employs a "fixed income plus" strategy, with equity assets not exceeding 30%, and allows for diverse asset configurations including REITs, gold, and QDII [3][5] - The fund's design includes a potential 20% allocation to overseas assets, which is viewed as a significant selling point [3] Sales and Distribution - The rapid fundraising success is attributed to the strong sales capabilities of the main distributor, China Merchants Bank, which has a reputation as the "king of retail" [2][8] - The collaboration between Morgan Fund and China Merchants Bank involved a long communication process, emphasizing the importance of the bank's "TREE Long-term Profit Plan" in selecting products [8] Performance Metrics - Morgan Fund currently manages six FOF products with a total scale of 517 million yuan, with the Morgan Borui Balanced One-Year Holding FOF being the largest at 252 million yuan [4] - The new fund's single-day fundraising amount is over five times the total scale of Morgan Fund's existing FOF products [5] Manager Background - The fund is co-managed by En Xuehai and Wu Chunjie, both of whom have extensive backgrounds in asset management and investment strategies [6] - En Xuehai has a track record of returns of 3.04% and 3.95% for the two FOFs he manages, while Wu Chunjie's managed products have shown returns ranging from -3.03% to 8.77% [6] Market Context - As of August 4, there are 487 equity FOF products in the market, with an average return of 6.31% this year [7] - Morgan Fund's FOF products have outperformed the average market returns, with year-to-date returns of 7.56% and three-year returns of 2.85% [7]