就在今天! 晨星Direct实操演示：解码2025年第三季度全球公募市场资金流向与产品创新机遇

Core Insights - The article emphasizes the importance of understanding global investment trends and multi-asset allocation through data, tools, and research to enhance financial institutions' investment research systems and service efficiency [1]. Group 1: Global Fund Flows - In Q3 2025, bond funds saw a net inflow exceeding $368 billion, which is five times the inflow of equity funds [1]. - Active ETFs continued their strong momentum with a record net inflow of over $153 billion, marking a historical high, while passive open-end funds experienced rare net outflows [1]. - Digital asset funds, as an alternative investment, saw a 23% growth in total size compared to the end of Q2 2025 [1]. Group 2: Product Issuance Trends - China ranked first globally in the number of new fund issuances [1]. - Active ETFs consistently outpaced passive ETFs in issuance numbers worldwide [1]. - In mature markets, alternative assets and trading tool-type products are leading the trend in new fund issuances [1]. Group 3: Research and Analysis Tools - The article highlights the use of Morningstar Direct, a professional analysis platform covering over 600,000 investment products, to quickly identify market opportunities behind asset fund flows [2]. - The platform integrates data from global public funds, ETFs, and individual stocks, providing unique research support [2]. Group 4: Special Reports and Insights - A special interpretation of the "Morningstar Fund Company Rating Panorama Report" will be shared, discussing the relationship between fund company fee structures, product line stability, manager ownership rates, and future fund performance [5]. - Participants will receive the complete "Morningstar Fund Company Rating Panorama Report" and an opportunity to apply for a trial of Morningstar Direct [5].