Core Insights - The newly established fund, E Fund Ruiyi Ying'an 6-Month Holding Mixed Fund of Funds (FOF), has raised over 5.8 billion yuan, marking it as the largest new fund in the fourth quarter and the fourth public FOF this year to exceed 5 billion yuan in fundraising [1][4]. Fund Details - The fund was officially established on November 18, 2023, with a total of 24,688 subscription accounts and a total fundraising scale of 58.48 billion units [4]. - The fund is managed by E Fund Management Co., Ltd. and is custodied by China Merchants Bank, which is part of the "TREE Long-term Profit Plan" [1][6]. Market Context - The public FOF issuance market has seen a resurgence, with 68 new public FOFs established this year, raising nearly 68 billion yuan, surpassing the total of the previous two years [10]. - Several other FOFs have also emerged as "explosive" products, including Huatai-PB Yingtai Stable 3-Month Holding FOF, which raised close to 5.6 billion yuan in just one day [11]. Investment Strategy - The E Fund Ruiyi Ying'an FOF is positioned as a low-volatility product, focusing on a stable investment style and primarily allocating assets to fixed-income investments while dynamically adjusting asset allocation based on market conditions [7]. - The fund's equity assets are limited to 5%-30% of total assets, with specific caps on investments in Hong Kong stocks and ETFs [6]. Industry Trends - The favorable performance of the equity market this year has contributed to the overall recovery of FOF performance, making these products attractive to investors in a low-interest-rate environment [12].
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