公募规模首破37万亿，连续8个月刷新历史纪录

Core Insights - The total net asset value of public funds in China has reached 37.02 trillion yuan, marking a historic milestone and a continuous growth for eight months [1][6][7] - The public fund market has seen an increase of over 4 trillion yuan since the beginning of the year, demonstrating strong resilience [1][6] Fund Performance - Money market funds have emerged as the "cash king" in November, with a monthly growth of 1354.49 billion yuan, despite a decline in overall yield [2][4] - Bond funds have also shown positive growth, reaching a total scale of 10.52 trillion yuan, increasing by 342.15 billion yuan from October [4] - QDII funds have benefited from global allocation needs, growing by over 256.34 billion yuan in the same month [4] - FOF funds have seen a significant increase of approximately 247.55 billion yuan, attributed to diversified asset allocation strategies [4] Equity Fund Challenges - Equity funds faced redemption pressure in November due to stock market adjustments, with stock fund scale decreasing by 1302.01 billion yuan and mixed funds down by 718.12 billion yuan [5] - The current market reflects a dynamic balance between risk aversion and pursuit of returns [5] Industry Outlook - The public fund industry has shown a robust growth trajectory, with an average annual growth rate of about 16% since 2016 [6][7] - If the growth trend continues, the industry scale is expected to approach 40 trillion yuan next year, further solidifying the role of public funds in wealth management [7]