又有公募FOF降费；2025年公募机构自购近49亿元

Group 1: Fund Management and Market Trends - Several public funds have reduced management fees, with Guotai Stable Income One-Year Holding Mixed Fund lowering its management fee from 0.9% to 0.3% and custody fee from 0.2% to 0.08% [1] - Public fund institutions have net subscribed nearly 4.9 billion yuan to equity funds in 2025, an increase of over 2.5 billion yuan compared to 2024, representing a growth rate of over 110% [2] - The number of new public fund products reached 1,553 in 2025, a year-on-year increase of 35.87%, marking a four-year high in issuance [3] Group 2: Insights from Fund Managers - Yang Delong from Qianhai Kaiyuan Fund highlighted that the technology stock market in 2026 will remain a key investment theme, driven by the "14th Five-Year Plan" focusing on technological innovation and strategic industries [4] Group 3: ETF Market Performance - On December 31, satellite ETFs experienced significant gains, with the highest increase reaching 7.72% [4] - The top-performing satellite ETFs included Satellite ETF with a price increase of 7.72% and Satellite Industry ETF with a 7.55% rise [5] - Conversely, the Jin Ying Gain Money Market ETF led the decline, dropping over 4% [6] Group 4: Future Opportunities in the Market - The "14th Five-Year Plan" period is expected to accelerate the launch of satellite constellations in China, making satellite ETFs a potential investment focus [7]