基金早班车丨公募新发基金集中备战，千亿增量资金蓄势入市

Group 1 - Public funds are accelerating their gathering, with nearly 140 funds currently being issued or in the early stages of construction, expected to bring in a scale of 100 billion yuan into the market [1] - Fund managers indicate that the influx of new capital, trends in the technology industry, and expectations of interest rate cuts by the Federal Reserve will provide strong support for A-shares, with more companies expected to cross the profit cycle inflection point by 2026 [1] - On February 25, A-shares showed a strong upward trend, with the Shanghai Composite Index rising by 29.82 points (0.72%) to 4147.23 points, and the Shenzhen Component Index increasing by 184.3 points (1.29%) to 14475.87 points, among others [1] Group 2 - As of February 25, the new fund issuance scale has exceeded 200 billion yuan this year, with many products raising over 5 billion yuan in their initial offerings, indicating a trend towards "10 billion funds" becoming the norm [2] - The public fund allocation logic is shifting towards low valuation, high dividend, and strong certainty as the A-share market experiences increased volatility and differentiation [2] - The pricing advantage of Hong Kong stocks is becoming more prominent, with the expectation of price convergence driving related companies to experience valuation recovery, which is becoming an important source of excess returns at the beginning of the year [2]