权益基金密集上新、发起式产品扎堆成立，公募“抢跑”哪些赛道？

Core Viewpoint - The public fund market is actively launching new equity funds in anticipation of a favorable spring market, with a notable increase in the establishment of low-threshold initiator funds [1][2][5]. Fund Issuance Trends - As of February 9, 2026, a total of 62 fund products are scheduled for subscription this month, including 41 equity funds, 12 mixed FOFs, and 8 bond funds [5][6]. - The majority of the newly launched funds are equity funds, indicating a strong focus on this segment [5][6]. Initiator Funds - Among the seven newly established funds, four are initiator products with lower establishment thresholds, allowing for quicker fundraising and deployment [2][8]. - Since the beginning of the year, over 30 initiator funds have been established, primarily focusing on industry themes such as healthcare innovation, consumption, semiconductors, and technology [2][6]. Market Dynamics - The issuance of public funds is concentrated around the spring season, leveraging the influx of capital and positive policy expectations [5][10]. - Historical data suggests a "calendar effect" in the A-share market around the Spring Festival, with a tendency for market performance to improve post-holiday [11]. Investment Focus - Institutions are expected to focus on sectors such as technology, advanced manufacturing, and non-ferrous metals in February, with an emphasis on areas supported by performance fundamentals [12][13]. - There is a growing trend towards mixed FOFs, reflecting a shift in investor demand for diversified and sustainable long-term value [9].