募集规模创近三年新高，FOF市场显著回暖

Core Insights - The FOF market has seen significant expansion this year, with fundraising reaching a three-year high, driven by favorable policies, market conditions, and product offerings [1][2]. Fundraising and Market Performance - As of November 21, 2023, 69 new FOFs have been established this year, raising a total of 692.36 billion yuan, marking a substantial increase compared to 38 FOFs and less than 40 billion yuan raised last year [2]. - The total market size of FOFs reached 1,933.37 billion yuan by the end of Q3 2023, reversing a three-year decline and showing a growth of over 46% compared to the end of last year [2]. Performance Metrics - Over 90% of FOFs have reported positive unit net value growth this year, with an average growth rate of 12.25% [3]. - The positive performance of A-shares has attracted more funds into FOFs, creating a virtuous cycle of good performance attracting more investments [3]. Future Development Potential - Public fund companies believe that FOFs have vast future development potential due to their multi-asset allocation advantages [4]. - The trend of shifting from single-asset investments to diversified multi-asset allocations is seen as irreversible, driven by the need for wealth management and increased awareness of retirement investments [4]. Investment Strategy Recommendations - Investors looking to use FOFs for asset allocation should prioritize products that cover multiple asset classes to diversify risk [5]. - It is advised to focus on long-term annualized returns and drawdown control rather than short-term gains, especially in volatile market conditions [5].