基金发行破万亿大关，权益类产品强势“C位”出道
Huan Qiu Wang·2025-12-01 07:24

Core Insights - The fund issuance market in 2025 has shown remarkable performance, with a total issuance scale exceeding 1.06 trillion yuan as of November 28, marking a significant shift in market dynamics towards equity funds [1] - Equity funds (both stock and mixed types) have become the dominant force in the market, accounting for over 50% of the total issuance, surpassing bond funds for the first time in history [1] - The number of newly established funds reached 1,376, with a total issuance of 10,624.56 billion units, showing slight growth compared to the previous year [1] Fund Structure Changes - Equity funds accounted for 50.55% of the total issuance, with stock funds raising 390.04 billion units and mixed funds raising 147.07 billion units, contrasting sharply with the nearly 70% share of bond funds in the previous year [1] - Fund of Funds (FOF) products have also seen explosive growth, with 69 new funds established, raising a total of 73.55 billion units, approximately 5.5 times the amount raised in the same period last year [1] Market Performance in November - In November, 136 new funds were established, with a total issuance of 94.57 billion units, maintaining a strong momentum despite market volatility [2] - Active equity funds and FOF products performed particularly well, with notable funds like E Fund's Industrial Selection leading with an issuance of 3.16 billion units [2] Investor Behavior and Market Outlook - Analysts attribute the structural changes in the fund issuance market to macroeconomic conditions, market sentiment, and evolving investor preferences, indicating a restoration of market confidence [4] - The emergence of popular funds reflects a more mature and rational investor base, focusing on solid research capabilities and risk control rather than chasing trends [4] - The outlook remains optimistic, with expectations of continued growth in equity funds driven by the irreversible trend of wealth shifting towards capital markets and increased participation from long-term funds like pensions [4]