2025年12月发行资管信托产品3364款
Xin Lang Cai Jing·2026-01-14 20:45

Core Insights - The asset management trust market showed sustained activity in December 2025, with a total of 3,364 products issued, reflecting a month-on-month increase of 18.28%, although the disclosed issuance scale decreased by 8.05% to 135.4 billion yuan [1] - The number of newly established asset management trust products reached 2,875, marking a month-on-month increase of 30.45%, while the disclosed establishment scale was 78.291 billion yuan, down by 1.63% [1] Group 1: Non-standard Trusts - The growth in the number of non-standard trust products was attributed to year-end urgency, with a significant increase in the number of products established, reaching 1,258, a month-on-month growth of 30.63%, despite a slight decrease in scale by 1.48% to 56.134 billion yuan [2] - The disparity between the increase in quantity and decrease in scale was due to short-term funding needs from urban investment entities, leading to a contraction in average product size and a scarcity of high-quality large compliant projects [2] Group 2: Standard Trusts - December saw a record high in the issuance of standard trust products, with 1,873 products issued, an increase of 14.14% month-on-month [2] - The issuance of fixed-income products grew by 8.56%, mixed products by 37.57%, and equity products by 43.48%, indicating a broad-based growth across all categories [2] - The appeal of fixed-income products was bolstered by supportive liquidity from the central bank, while mixed and equity products benefited from structural opportunities in the market [2] Group 3: Bond Investment Products - The number of bond investment products established saw significant growth despite a volatile bond market, supported by the central bank's liquidity measures, including a net injection of 100 billion yuan through MLF and substantial reverse repos [3] - The central bank's commitment to maintaining a moderately loose monetary policy further reinforced market expectations for liquidity, enhancing the attractiveness of fixed-income standard trust products [3]