CATL(SZ:300750) 量化藏经阁·2025-11-04 00:08Overview of Public FOF Funds in Q3 2025 - As of Q3 2025, a total of 518 FOF products have been established in the market, with a combined scale of 193.49 billion yuan, representing a 16.44% increase compared to Q2 2025 [1][6] - The FOFs are categorized into three types based on the proportion of equity assets: debt-oriented FOFs (112.32 billion yuan), balanced FOFs (39.43 billion yuan), and equity-oriented FOFs (41.74 billion yuan). The median returns for these categories in Q3 2025 are 3.07%, 11.84%, and 21.20%, respectively [1][8][16] FOF Fund Manager Preferences - The most held active equity funds by FOFs in Q3 2025 are: 1. Fuguo Stable Growth A (33 FOFs) 2. Boda Growth Smart Navigation C (30 FOFs) 3. Invesco Great Wall Quality Evergreen A (26 FOFs) [2][27] - The largest positions by scale in active equity funds are: 1. E Fund Science and Technology Innovation (5.87 billion yuan) 2. Huaxia Innovation Frontier A (4.85 billion yuan) 3. Xingquan Business Model Preferred A (4.62 billion yuan) [2][28] Changes in Fund Allocations Compared to Q2 2025 - In active equity funds, the most net increased holdings by FOFs are: 1. Caitong Asset Management Digital Economy C (13 FOFs) 2. E Fund Growth Power C (13 FOFs) 3. Invesco Great Wall Stable Return C (6 FOFs) [3][40] - The largest net increase in scale for active equity funds is seen in E Fund Information Industry A (1.60 billion yuan) [3][41] FOF Stock Investment Situation - By Q3 2025, 158 FOFs have directly invested in stocks, with balanced FOFs having the highest proportion of stock investments [5] - The top three stocks held by FOFs are: 1. Zijin Mining 2. CATL 3. Cambricon Technologies [5] Performance of Different FOF Categories - The median returns for different FOF categories in Q3 2025 are: - Debt-oriented FOF: 3.07% - Balanced FOF: 11.84% - Equity-oriented FOF: 21.20% [16] - The top-performing funds in Q3 2025 for each category are: - Debt-oriented: Galaxy Zhiyuan Pension Target Date 2045 (12.79%) - Balanced: Penghua Pension 2045 (25.24%) - Equity: Guotai Youxuan Leading One-Year Holding (59.42%) [18][20][22] FOF Fund Management Companies - As of Q3 2025, there are 82 fund companies engaged in FOF business, with the top five managing 40.71% of the total scale [9] - The leading fund managers by scale are: 1. China Europe Fund (9.44%) 2. Xingsheng Global Fund (9.42%) 3. E Fund (8.29%) [9] FOF Issuance and Market Trends - In Q3 2025, 20 new FOFs were issued, an increase of 4 from Q2 2025 [13] - The overall performance of FOFs has improved significantly compared to previous years, with median returns recovering from negative figures in 2022 to positive returns in 2025 [15][16]