超1130亿元，增长20.52%

Core Viewpoint - The public fund industry in China reported a total fee income exceeding 113 billion yuan in the first half of 2025, marking a year-on-year growth of 20.52% due to the recovery of the capital market and record-breaking management scales [1] Management Fees - The management fee income for the first half of 2025 reached 616.03 billion yuan, a 1.98% increase from 604.09 billion yuan in the same period of 2024 [2][3] - Mixed funds generated the highest management fees at 177.49 billion yuan, accounting for 28.81% of total income, although this represents an 8.26% decrease from 193.47 billion yuan in 2024 [3] - Money market and bond funds were the main contributors to management fee income, with 173.19 billion yuan and 144.56 billion yuan respectively, reflecting year-on-year growth of 9.36% and 4.26% [3] Growth in Specific Fund Types - QDII funds, other funds, and commodity funds saw significant increases in management fees, with respective incomes of 19.39 billion yuan, 5.51 billion yuan, and 3.10 billion yuan, showing year-on-year growth of 22.92%, 103.18%, and 169.41% [4] Major Fund Managers - In the first half of 2025, 21 out of 162 fund managers reported management fee incomes exceeding 10 billion yuan, up from 20 in 2024 [5] - E Fund led the industry with a management fee income of 39.27 billion yuan, a decrease of 3.91% from 40.87 billion yuan in 2024 [5] - The top 15 fund managers collectively earned 309.35 billion yuan in management fees, accounting for over half of the industry's total [5] Client Maintenance Fees - Fund companies paid a total of 182.84 billion yuan in client maintenance fees, a 12.79% increase year-on-year [8][10] - After deducting client maintenance fees, the net management fee income for fund companies was approximately 433.19 billion yuan, a decrease of 1.99% from 441.99 billion yuan in the previous year [10] Sales Service Fees - The total sales service fee income reached 152.16 billion yuan, up 13.44% from 134.12 billion yuan in 2024 [11] - Money market funds accounted for 76.34% of the sales service fees, totaling 116.16 billion yuan [11] Custody Fees - The total income from fund custody fees was 137.69 billion yuan, reflecting a 2.36% increase from 134.51 billion yuan in the previous year [13] - Four commercial banks reported custody fee incomes exceeding 10 billion yuan, with Industrial and Commercial Bank of China leading at 20.35 billion yuan [14]