ETF-FOF，迎来井喷！

Group 1 - The core viewpoint is that public funds are increasing their layout of ETF-FOF products in response to the market recovery and the expansion of ETF scale, which has surpassed 5 trillion yuan [1][3][4] - A total of 17 ETF-FOF products have been reported by 12 public funds this year, with 5 products reported since September, indicating a growing interest in this investment vehicle [1][3][4] - The rapid development of ETFs, with over 1,200 products and a scale exceeding 5 trillion yuan, provides a solid foundation for the operation of ETF-FOF products [3][4] Group 2 - ETF-FOF is a subcategory of FOF that focuses on passive index fund allocation, with over 80% of non-cash underlying assets allocated to ETFs [3][4] - The advantages of ETFs over actively managed funds include lower fees, better liquidity, transparency, and style consistency, which enhance the interpretability and manageability of FOF products [4][6] - The recent surge in ETF-FOF product applications is attributed to the maturity of ETF development, which covers various types and risk levels, providing ample market conditions and investment targets [4][6] Group 3 - As an innovative product, domestic ETF-FOF has gradually matured after a period of pilot testing, with the Shanghai Stock Exchange promoting the listing of FOF applications since August 2021 [6][7] - As of September 7, there are 28 FOF-LOF products in the market, including several ETF-FOF products that have shown good performance since their establishment [6][7] - The management of FOF that allocates to ETFs requires strong macroeconomic analysis skills and market insight, as well as the ability to adjust asset allocation ratios based on market dynamics [7][8]