基金分红大盘点：年内公募基金分红超2396亿元，谁是“发红包”大户？｜2025中国经济年报

Core Insights - The public fund market in 2025 has seen a significant increase in dividend distributions, with a total of 239.63 billion yuan, marking an 11.01% year-on-year increase in total dividends and a 15.99% increase in the number of distributions [2][3][11] Fund Performance - The top five funds in terms of dividend distribution are all index funds, with the highest being Huatai-PB CSI 300 ETF at 8.39 billion yuan, followed by E Fund CSI 300 ETF at 7.15 billion yuan, and others exceeding 4.5 billion yuan [1][4][5] - The average dividend per public fund in 2025 was 0.67 billion yuan, with 16 funds distributing over 1 billion yuan [3][5] Dividend Frequency - There was a notable increase in the frequency of dividends, with 1,702 funds distributing more than twice, and 168 funds distributing more than five times [6][7] - The number of funds distributing over ten times increased significantly, with 48 funds achieving this, compared to only 25 in the previous year [6][7] Fund Types and Trends - Bond funds remain the primary contributors to dividends, accounting for approximately 70% of total distributions, although their share has decreased from previous years [8][9] - Stock funds have shown explosive growth, with total dividends rising from 26.22 billion yuan in 2024 to 49.53 billion yuan in 2025, an increase of 88.92% [9][10] Market Dynamics - The increase in dividends is attributed to a recovering A-share market, improved profitability of underlying assets, and regulatory encouragement for funds to enhance investor returns [3][10][11] - The shift from a "scale competition" to a "return competition" reflects a broader trend in the industry towards prioritizing investor returns over mere asset accumulation [11]