显著回升！四季度FOF发行迎来“小高峰”，规模重回2000亿元

Core Viewpoint - The FOF (Fund of Funds) market has experienced a significant rebound in both issuance and existing scale since the fourth quarter, indicating a renewed interest and demand from investors [1][2]. Issuance Trends - The issuance of FOF products has accelerated in the fourth quarter, reaching a total of 227.95 billion yuan, a substantial increase compared to less than 1 billion yuan in the same period last year [2]. - The quarterly issuance trend shows a clear "surge" in the fourth quarter, surpassing the combined issuance of the first three quarters, which were 141.47 billion yuan, 186.04 billion yuan, and 65.32 billion yuan respectively [2]. - Currently, there are 11 FOF products being issued, with 10 being mixed-asset FOFs, indicating a positive outlook on equity assets by fund managers [2]. Fundraising Success - Several newly established FOF products have achieved impressive fundraising results within a short time frame, such as 55.77 billion yuan raised in one day by Huatai-PB Yingtai Stable 3-Month Holding [3]. Existing Scale Recovery - The existing scale of FOF products has risen to 2154.93 billion yuan, with the number of products increasing to 529, marking a recovery above the 2000 billion yuan threshold [4]. - This recovery follows a decline in the previous year due to market adjustments and decreased risk appetite, highlighting a renewed attractiveness of FOFs among institutional and individual investors [4]. Performance and Investor Sentiment - FOF products have shown strong performance this year, with several achieving over 50% returns, and the average and median returns exceeding 10%, significantly better than the previous year [5]. - The mixed-asset FOFs have been particularly favored as they enhance investment returns while controlling risks, appealing to retail investors looking to participate in equity markets [5].