Zhong Guo Zheng Quan Bao·2026-01-07 22:37Core Insights - The fund issuance market in early 2026 is experiencing a significant surge, particularly in FOF (Fund of Funds) products, driven by customer demand, product transformation, and channel support [1][2][4] Group 1: FOF Product Performance - The first FOF product of 2026, Wanjiatai's "Stable Three-Month Holding FOF," sold out in just one day on January 5, marking a strong start for new fund issuance [1] - Following this, Guangfa's "Stable Three-Month Holding FOF" also announced an early closure of its fundraising after just two trading days [2] - FOF products are becoming the main drivers of sales for various banks, with many companies planning to launch multi-asset FOF products through different banking channels [3] Group 2: Market Dynamics - A significant amount of residential fixed deposits, totaling 20.7 trillion yuan for 2-year, 9.6 trillion yuan for 3-year, and 1.3 trillion yuan for 5-year terms, will mature in 2026, creating a demand for new investment vehicles [4] - The low interest rates on fixed deposits are failing to meet investors' needs for capital preservation and growth, prompting a shift towards multi-asset and multi-strategy FOF products [4] - The design of FOF products offers advantages over traditional funds by diversifying underlying assets and capturing more alpha opportunities [4] Group 3: Channel and Marketing Strategies - Major banks are actively promoting FOF products, establishing dedicated marketing lines and sections for FOF on their wealth management platforms [5] - The selection criteria for fund managers in FOF products have become stricter, focusing on those with experience in multi-asset management and strong volatility control capabilities [6] Group 4: Fund Issuance Trends - From January 5 to 7, 38 new funds were launched, with a total of 77 public funds planned for issuance in January 2026, indicating a peak in fund issuance activity [7] - Equity products remain dominant, with 26 index funds and 26 actively managed equity funds among the new offerings, alongside a diversified product line including 12 bond funds, 11 FOFs, and 2 QDII funds [7]