Xin Lang Ji Jin·2025-09-13 13:54Core Insights - The competitive landscape among top fund sales institutions in China remains stable, with Ant Fund, China Merchants Bank, and Tiantian Fund occupying the top three positions, but showing significant differences in growth rates [1][3]. Fund Sales Data Summary - Ant Fund leads in equity fund holdings with a total of 822.9 billion yuan as of mid-2025, reflecting an increase of 11.38% from the end of 2024 [2]. - China Merchants Bank ranks second with equity fund holdings of 492 billion yuan, achieving the highest growth rate of 19.85% among the top five institutions [2]. - Tiantian Fund holds the third position with 349.6 billion yuan, showing minimal growth of only 0.09% compared to the previous year [2]. - Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB) are fourth and fifth, with holdings of 339.9 billion yuan and 263.8 billion yuan, respectively [2]. Non-Money Market Fund Holdings - In terms of non-money market fund holdings, Ant Fund also leads with 1,567.5 billion yuan, followed by China Merchants Bank at 1,041.9 billion yuan and Tiantian Fund at 637.4 billion yuan [3]. - ICBC and CCB experienced slight declines in this category, with decreases of 1.34% and 3.01%, respectively [3]. Growth in Index Funds - Stock index funds emerged as the fastest-growing category in the first half of 2025, with China Merchants Bank achieving a growth rate of 26.29% and ICBC at 39.78%, indicating a significant preference for passive investment products among investors [3]. - Ant Fund holds the largest scale in this category with 391 billion yuan, reflecting a growth rate of 22.15% [3]. Market Trends - Overall, the fund sales market in the first half of 2025 shows a growth trend, but there is a clear differentiation among institutions [3]. - Independent third-party sales institutions maintain a leading position, while bank-affiliated institutions are making notable strides in equity funds, with index fund products becoming a new growth point in the market [3].