公募新发规模已创近四年新高！马年增量资金蓄势待发

Core Insights - The A-share market is set to welcome the first trading day of the Year of the Horse with a significant number of new fund launches, indicating a strong market sentiment and potential for growth in 2026 [1][3]. Fund Issuance - On February 24, the first trading day, 18 new funds were launched, with a total of 35 new funds expected to debut in the first week [3]. - In the first two months of 2026, a total of 245 new public funds were issued, with a scale nearing 210 billion yuan, marking a record high for the same period in nearly four years [1][4]. - The structure of the new funds is predominantly equity-focused, with 24 out of 35 funds being equity funds, accounting for over 68% of the total [3]. Market Sentiment and Trends - Analysts express optimism for the market's performance in 2026, attributing it to a strong stock market and increased investor demand for equity funds due to favorable past performances [5][6]. - The growth in new fund issuance is seen as a reflection of a long-term trend of household savings shifting towards capital markets, which is expected to continue throughout the year [6]. Performance Expectations - The market is anticipated to maintain a positive trajectory, with predictions of the index remaining above 4,000 points, which would further attract outside capital [7]. - The A-share market is expected to benefit from a seasonal "spring offensive" following the Lunar New Year, supported by positive performances in overseas markets [7][8]. Sector Insights - Technology stocks are highlighted as a leading sector for the Year of the Horse, with potential for continued strong performance, particularly for companies with core technologies [8]. - Investors are advised to be cautious of high valuations in growth stocks and to focus on the premium levels of fund products when investing [8].