量化藏经阁·2025-04-24 13:54Overview of Public FOF Funds in Q1 2025 - As of Q1 2025, a total of 512 FOF products have been established in the market, with a total scale of 1510.79 billion yuan, representing a 13.47% increase compared to Q4 2024 [1][6][8] - The FOFs are categorized into three types based on the proportion of equity assets: debt-type FOFs (766.59 billion yuan), balanced FOFs (326.02 billion yuan), and equity-type FOFs (418.18 billion yuan) [1][7][8] - The median returns for Q1 2025 are 0.44% for debt-type FOFs, 1.57% for balanced FOFs, and 2.64% for equity-type FOFs [1][16] FOF Fund Manager Preferences - The most held active equity funds by FOFs in Q1 2025 are Dachen Gaoxin A, Fuguo Stable Growth A, and Huaxia Innovation Frontier [2][26] - The largest positions in terms of scale are held in Huaxia Innovation Frontier, Dachen Gaoxin A, and E Fund Information Industry Select C [2][27] - In the bond fund category, the most held funds by FOFs are Guangfa Pure Bond A, E Fund Anyue Ultra-Short Bond A, and Fuguo Pure Bond AB [2][33] Changes in Fund Allocations Compared to Q4 2024 - The most net increased active equity funds by FOFs are Fuguo Stable Growth A, Jingshun Longcheng Quality Evergreen A, and Bosera Smart Quantitative Multi-Factor A [3][39] - The largest net increase in scale is also seen in Fuguo Stable Growth A, followed by E Fund Strategic Emerging Industries C and E Fund Medical Biology C [3][39] FOF Stock Investment Situation - As of Q1 2025, 142 FOFs have directly invested in stocks, with the highest proportion in balanced FOFs, followed by equity-type FOFs [5] - The top three stocks held by FOFs are Ningde Times, Zijin Mining, and Luxshare Precision [5] Performance of Different FOF Categories - The median returns for different FOF categories in Q1 2025 are as follows: debt-type FOFs at 0.44%, balanced FOFs at 1.57%, and equity-type FOFs at 2.64% [16] - The top-performing debt-type FOFs in Q1 2025 are Zhongtai Tianze Stable 6-Month Holding A, Xingsheng Global Anyue Stable Pension One-Year Holding A, and Huaxia Stable Pension One-Year A [18] - The top-performing balanced FOFs are Changxin Yinian Balanced Pension (FOF) A, ICBC Pension 2040 A, and Ping An Pension Target Date 2050 Three-Year Holding [20] - The top-performing equity-type FOFs are Bohai Huijin Preferred Progress 6-Month Holding A, ICBC Smart Progress One-Year A, and ICBC Pension 2050 A [22] FOF Configuration by Fund Managers - The top three active equity fund managers with the most FOF configurations are Liu Xu, Fan Yan, and Xu Yan [4] - The top three "fixed income +" fund managers are Hu Jian, Wang Xiaocheng, and Zhang Kaidi [4] FOF Configuration of Various Fund Types - The most held bond funds by FOFs are Guangfa Pure Bond A, E Fund Anyue Ultra-Short Bond A, and Fuguo Pure Bond AB [33][34] - The most held "fixed income +" funds are E Fund Suifeng Tianli A, Anxin Target Return A, and Huatai Bosheng Zunhe A [35][36]