这类产品，大幅升温

Core Insights - The fund issuance market in China has shown a trend of "slight decline in scale, structural adjustment" with over 720 billion units raised in the first eight months of the year, slightly down from the previous year [1][3] - The issuance of equity funds has significantly increased, surpassing that of bond funds, indicating a shift in investor preference towards equity investments [1][3] Fund Issuance Overview - As of August 29, 947 new funds were established this year, with a total issuance of 728.06 billion units, representing a 20.64% increase in the number of funds but a 5.01% decrease in the total raised compared to the same period last year [3] - Equity funds (including stock and mixed funds) and bond funds are the main contributors, with 550 stock funds raising 270.79 billion units (37.19%) and 158 mixed funds raising 76.89 billion units (10.56%), together accounting for 47.75% of the total [3] - In contrast to last year, where bond funds dominated with an 80.16% share, this year equity funds have gained a significant share, indicating a structural change in the market [3] FOF Products and Market Trends - The issuance of FOF (Fund of Funds) products has surged, with 38 products established this year, raising a total of 37.64 billion units, which is four times that of the same period last year [4] - The current market environment has led to a focus on stable products, with the top ten products by issuance being FOF or bond funds [4] - As of August 29, there are 58 new funds currently being issued and 62 awaiting issuance, with passive index products making up half of this number [4] August Performance - August saw a notable increase in equity fund issuance, with 140 new funds and a total issuance of 102.02 billion units, marking a monthly record for the year [6] - Equity funds accounted for 61.55% of the total issuance in August, reflecting a strong preference for these products among investors [6] Future Outlook - Fund companies are actively increasing their focus on equity products, particularly in technology growth sectors such as AI, semiconductor, and high-end manufacturing [7] - There is a cautious approach among some fund companies regarding active equity products, with plans to increase investment only when market conditions are more favorable [7]