新基金发行数量创近四年新高，权益类占主导地位

Core Insights - The public fund issuance market has shown significant growth this year, with a total of 1,553 new public fund products established, representing a year-on-year increase of 35.87%, marking a four-year high in issuance volume [1][4] - The average subscription period for new funds has decreased to 16.41 days, down over 6 days from last year, indicating heightened market enthusiasm [1][4] Group 1: Market Dynamics - The increase in new fund issuance and efficiency is attributed to several factors: a favorable equity market, a deepening trend towards passive investment, and the leading role of major public fund institutions [1][4] - The demand for index-based investment tools has surged, with passive index funds becoming the mainstay of new fund issuance [2][5] Group 2: Fund Structure - Equity funds dominate the new issuance landscape, with 1,109 equity-related funds launched, accounting for 71.41% of total new funds. This includes 835 stock funds (53.77%) and 274 mixed equity funds (17.64%) [1][5] - Passive index funds have emerged as a significant segment, with 699 new passive index funds issued, making up 45.01% of the total. Among these, 618 are passive index stock funds [2][5] Group 3: Performance Trends - The issuance of equity funds has seen a substantial year-on-year increase of 56.64%, with stock funds alone rising by 75.79%. In contrast, bond fund issuance has decreased by 13.94%, highlighting a clear "strong equity, weak bond" market dynamic [2][5] Group 4: Institutional Landscape - A total of 133 public fund institutions launched new funds this year, with 88 institutions issuing fewer than 10 funds, while 24 institutions issued 20 or more funds, indicating a high concentration among leading firms [2][5] - Notable institutions include E Fund with 69 new funds, followed by China Universal with 64, and Huaxia Fund with 61, showcasing the dominance of major players in the market [3][6]