公募规模连破3个万亿大关，货基贡献突出，权益类产品增超9200亿元

Core Insights - The total net asset value of public funds in China reached a record high of 35.08 trillion yuan as of the end of July 2025, marking a significant increase in the industry [1][3][4] - The growth in public fund size has been driven by strong performance in money market funds, which added over 1 trillion yuan in the first seven months of the year, surpassing the 14 trillion yuan mark for the first time [1][4] - Equity funds also saw substantial inflows, with a cumulative increase of over 920 billion yuan, reflecting growing investor interest [1][5] Fund Performance - As of July 31, 2025, the number of public funds reached 13,014, with a total net value of 350,755.87 billion yuan, showing an increase from the previous month [2] - The breakdown of fund types shows that stock funds, mixed funds, money market funds, and QDII funds had net values of 4.92 trillion yuan, 3.83 trillion yuan, 14.61 trillion yuan, and 730 billion yuan respectively, with QDII funds experiencing the highest growth rate of 6.77% [3][4] - The overall growth trend indicates a steady increase in public fund sizes, with significant milestones achieved in April, June, and July 2025 [4][5] Market Dynamics - The increase in public fund sizes is attributed to several factors, including improved market conditions and a shift in investor behavior towards diversified investments [5][6] - The A-share market has shown positive performance, with major indices recording gains of 13.38%, 18.06%, and 27.16% year-to-date, which has attracted more capital into equity funds [6][7] - A significant majority of equity funds (over 98%) reported positive returns this year, with several funds achieving returns exceeding 100% [6][7] Future Outlook - Industry experts believe there is still room for further growth in public fund sizes, driven by ongoing improvements in market conditions and investor confidence in China's economic prospects [5][6] - The public fund industry is maturing, with advancements in product offerings, research capabilities, and customer service, which are expected to enhance investor recognition and participation [7] - The focus remains on converting industry growth into tangible benefits for investors, emphasizing the importance of delivering value beyond mere size metrics [7]