证券期货机构期货和衍生品类产品规模 前7个月增长近30%！

Core Insights - The asset management business of futures companies has shown significant growth in 2023, with a total scale of private asset management products reaching 383.97 billion yuan by the end of July 2025, up from 314.32 billion yuan at the end of 2024, marking an increase of 69.65 billion yuan [1] - The number of futures and derivatives products has increased by 364 to 1,730, with a total scale of 130.19 billion yuan, reflecting a growth of approximately 26% in quantity and 29% in scale compared to the end of 2024 [1] - The average management scale of private asset management products by futures companies has risen significantly from 2.86 million yuan at the end of 2024 to 4.04 million yuan by July 2025 [1] Industry Trends - Since the implementation of the new asset management business registration rules on January 17, 2023, the number of futures companies engaged in asset management has decreased from 110 to 94, indicating a tightening of industry standards [2] - The Commodity Trading Advisors (CTA) strategy has gained popularity due to its stable returns and low correlation with stock and bond markets, becoming a key tool for investors to diversify risks and optimize portfolios [2] - The fixed income market has entered a correction phase, leading to a decline in returns on fixed income products, which has further increased the appeal of CTA strategies as a standard allocation rather than an optional one [2] Company Developments - Ruida Futures has focused on active management and research empowerment, achieving a 36.5% growth in asset management equity scale by mid-2025, with CTA product scale increasing by over 40% [3] - CITIC Futures has developed various derivative investment strategies, including a "fixed income + gold options" strategy, aimed at providing clients with better participation in precious metal investments while controlling volatility [3] - CITIC Futures has emphasized the unique characteristics of futures asset management, leveraging its research advantages to create innovative "fixed income +" products, thus filling market gaps and exploring differentiated development paths for futures companies [4]