年内36只基金提前结募 被动指数型基金数量居首

Core Insights - The early closure of fundraising for Tianhong CSI Industrial Nonferrous Metals Theme ETF and Jianxin Hongtai Multi-Asset Allocation 3-Month Holding Mixed Fund reflects new characteristics in the fund issuance market, with passive index funds and public FOFs leading the way in early closures [1] - As of January 22, 36 funds from 27 public institutions have announced early closures, a 28.57% increase from 28 funds in the same period last year, with passive index funds being the most prevalent at 18 funds [1] Fund Market Trends - The rise in early closures is driven by multiple factors including market performance, capital demand, and institutional positioning, with passive index funds aligning well with current investor needs [1][2] - The demand for passive index funds has surged, with a significant increase in the number of new funds issued in 2025 compared to previous years, and a notable reduction in average subscription days [1] Investor Behavior - The overall trading sentiment in the A-share market has improved, leading to heightened enthusiasm for equity and thematic funds, with many products reaching or exceeding their target sizes quickly [2] - Public institutions are designing products that better meet market demands, with an increase in the frequency of short-term holding FOFs and thematic ETFs, catering to investors' needs for flexibility and efficient asset allocation [2] Market Dynamics - In a low-interest-rate environment, some funds are actively seeking high-yield assets, with equity funds and multi-asset allocation products becoming primary options [2] - The proactive shortening of fundraising periods by public institutions aims to reduce idle capital costs and enhance overall product efficiency, supported by banks promoting public FOFs and index funds [2] Investment Strategy - There is a clear shift in investor preference towards transparent, logically sound, and efficient investment tools, particularly in passive index funds that track industry trends closely [2] - The early closures of funds primarily concentrated in passive index funds indicate a consensus among investors regarding technology growth and structural allocation opportunities, rather than merely short-term sentiment [2]