公募FOF年内发行规模达776亿元 创近4年新高

Group 1 - The FOF market is experiencing a surge in issuance, with 74 new public FOFs established in 2025, totaling 776.06 billion yuan, marking a four-year high [1] - The average issuance scale of single FOF products in 2025 reached 10.49 billion yuan, significantly higher than 1.99 billion yuan in 2023 and 3.05 billion yuan in 2024, indicating a shift from "many but scattered" to "few but refined" products [1] - A total of 13 FOF products raised over 2 billion yuan, with 24 products exceeding 1 billion yuan, showcasing the emergence of blockbuster products [1] Group 2 - The average subscription period for FOF products in 2025 was 17.9 days, with 15 products achieving rapid fundraising within 7 days, accounting for 20.3% [2] - The FOF market has evolved over more than eight years since the first public FOFs were approved in September 2017, entering a steady growth phase from 2019 to 2020 [2] - The peak of the FOF market occurred in 2021, with 94 new FOFs and a total issuance scale surpassing 1 trillion yuan, reaching 1,083.62 billion yuan [2] Group 3 - Eight public fund managers have surpassed 100 billion yuan in FOF management scale, with over 80 institutions engaged in public FOF business [3] - E Fund leads the market with a FOF management scale of 218.84 billion yuan and 31 FOF products, while China Europe Fund and Xingzheng Global Fund are closely competing with scales of 182.18 billion yuan and 182.17 billion yuan respectively [3] - Other institutions like Fuguo Fund, GF Fund, and Huaxia Fund also have FOF management scales exceeding 100 billion yuan, indicating a competitive first tier [3] Group 4 - Performance is identified as the core support for the growth of public FOFs in 2025, with 516 FOF funds achieving positive returns as of December 7 [4] - The recovery of the A-share market has increased investor demand for professional risk diversification and stable returns [4] - The acceleration of long-term capital inflows, such as pensions, along with ongoing regulatory improvements, enhances the attractiveness of FOF products as ideal investment tools [4]