中国基金报·2025-09-13 05:12Core Viewpoint - The public fund market is experiencing a significant reshuffle, with a notable increase in the scale of bank-affiliated stock index funds by 37.9% in the first half of 2025, indicating widespread acceptance and recognition of stock index funds in the market [2][14]. Group 1: Fund Performance and Rankings - Ant Fund leads the market with an equity fund holding scale of 822.9 billion yuan, showing an 11% increase compared to the previous period [4][16]. - China Merchants Bank ranks second with an equity fund holding scale of 492 billion yuan, achieving a remarkable 20% growth [4][16]. - Other top institutions include Tian Tian Fund and Industrial and Commercial Bank of China, with equity fund holdings exceeding 330 billion yuan [4][16]. Group 2: Institutional Growth Trends - The bank-affiliated stock index funds have seen a substantial increase in acceptance, with a 37.9% growth in holding scale, significantly outpacing third-party and brokerage firms [12][14]. - Agricultural Bank of China reported a staggering 169% increase in stock index fund holdings, while Industrial and Commercial Bank and Bank of China also experienced growth rates of 40% [8][14]. - The overall growth of equity funds among the top 100 institutions reached 14.6%, reflecting a broader trend of increasing acceptance of passive investment strategies [14]. Group 3: Market Dynamics - The brokerage sector has shown the largest increase in equity fund holdings, with a growth rate of 6.6%, driven by a client base with a higher risk appetite [10][12]. - The rapid recovery of the stock market has led to increased investment in equity funds, particularly among brokerage clients [10][12]. - The competitive advantage of leading institutions like Ant Fund and China Merchants Bank continues to strengthen, with their sales channels showing superior growth compared to industry averages [8][14].