限购债基新发权益基金 公募逆势布局热情高

Core Viewpoint - The recent adjustment in A-share market has led to increased discussions on risk aversion, with public fund companies showing a tendency to limit large subscriptions for defensive funds while actively launching equity index products [1][2]. Group 1: Fund Subscription Trends - Many public fund institutions have chosen to limit large subscriptions for defensive products such as bond funds, money market funds, and dividend-themed funds, reflecting a cautious approach towards potential inflows of risk-averse capital [2][3]. - Since November 14, over a hundred products, primarily bond funds, have suspended large subscriptions, indicating a trend towards restraint in accepting new capital [2][3]. - Fund managers emphasize the importance of maintaining a balanced approach to fund inflows, as excessive short-term capital can hinder effective investment management and potentially harm investor interests [1][2]. Group 2: Active Equity Fund Launches - Despite the cautious stance on defensive funds, there is a notable enthusiasm for launching equity index products, with several new funds being introduced under major indices like the Shanghai Composite Index and the ChiNext Index [2][3]. - For instance, the Guotou Ruijin Shanghai Composite Index Enhanced Fund raised 971 million yuan during its subscription period from October 22 to November 11, attracting 3,453 investors [2]. - The number of newly established products linked to the Shanghai Index and the North Star 50 Index has reached historical highs this year, with 8 and 23 products respectively, while the ChiNext Index has seen 17 new products, matching last year's total [3]. Group 3: Market Outlook and Sector Focus - Various institutions believe that the recent market fluctuations do not alter the long-term positive trend, suggesting a focus on structural opportunities, particularly in sectors with favorable industry trends such as technology, consumption, high-end manufacturing, and pharmaceuticals [3][4]. - The market is expected to experience a mid-term upward trend, supported by ample liquidity and improving industry conditions, despite potential short-term volatility [3][4]. - Companies are advised to balance their portfolios by increasing allocations to stable dividend assets while also investing in sectors with strong industrial trends, such as AI computing power and new energy [4].