罕见！FOF基金频出小爆款

Core Viewpoint - The FOF (Fund of Funds) market is experiencing unexpected popularity, with significant fundraising success for new products, indicating a shift in investor interest and market dynamics [3][5]. FOF Fundraising Success - The newly established FOF funds have seen impressive fundraising figures, with 富国智悦稳健90天持有 FOF raising 1.793 billion yuan in just 19 days, and 华泰柏瑞盈泰稳健 raising 5.577 billion yuan in one day [3][4]. - As of November 12, 2025, the total number of FOFs established has surpassed 60, with a cumulative fundraising scale exceeding 56 billion yuan, a significant increase of over 400% compared to the previous year [4]. Market Dynamics - The FOF market is characterized by a duality: while the overall scale has just crossed 200 billion yuan, it remains small compared to the total public fund scale of over 36 trillion yuan [4][8]. - More than 60% of FOF products have a scale of less than 200 million yuan, leading to operational challenges and limited bargaining power for smaller funds [8]. Performance and Strategy - FOF products have shown strong performance, with stock-type and mixed-type FOFs achieving average annual returns exceeding 26%, significantly outperforming the 18% increase of the CSI 300 index [5][7]. - The strategy of FOFs has evolved to better meet market demands, with a focus on mixed-asset allocation and the inclusion of diverse asset classes such as US dollar bonds and REITs [7]. Investment Recommendations - The top-performing stock-type FOFs have yielded returns over 30% this year, with 国泰优选领航一年持有 A achieving a remarkable 70% return [9][11]. - Investors are advised to align their investment choices with their risk profiles, selecting appropriate FOF types based on their investment goals [12]. Challenges and Future Outlook - Despite the recent success, the FOF market faces challenges such as limited asset allocation to international markets and a perception of double fees among investors [8][12]. - The potential for FOFs to transition from niche products to mainstream investment tools is contingent on improved investor education and enhanced cross-market allocation capabilities [12].