37万亿元！公募基金规模连续8个月创新高 若延续近年约10%～15%的中枢增速水平，明年行业规模有望突破40万亿

Group 1 - As of the end of November, the total net asset value of public funds in China reached 37.02 trillion yuan, marking the first time it has surpassed 37 trillion yuan and reflecting an increase of over 4 trillion yuan since the beginning of the year [1] - The growth in public fund assets is primarily driven by money market funds, which saw an increase of 1354.49 billion yuan in November, despite a decline in overall yield [1] - Bond funds reached a total scale of 10.52 trillion yuan by the end of November, with a growth of 342.15 billion yuan compared to the end of October [1] Group 2 - The analysis indicates that FOF funds are increasingly incorporating diverse asset classes such as Hong Kong stocks, commodity futures, and public REITs, aligning with investors' desire for stability during market volatility [2] - In November, stock funds and mixed funds experienced slight increases in shares but saw a decrease in total scale, with stock funds at 5.80 trillion yuan, down 1302.01 billion yuan from October [2] - The chief equity investment officer at Yongying Fund suggests that the A-share market is expected to see a significant turning point in profitability by 2026, driven by economic cycle patterns and structural optimization [2] Group 3 - The net asset value of public funds has grown from approximately 9.1 trillion yuan in 2016 to the current level, with an average annual growth rate of about 16% [3] - If the industry maintains a growth rate of around 10% to 15%, it is projected that the total scale could approach 40 trillion yuan next year [3]