刚刚，见证历史！首破370000亿

Core Viewpoint - The total scale of public funds in China has surpassed 37 trillion yuan for the first time, reaching a historical high of 37.02 trillion yuan as of the end of November 2025, driven by a recovering capital market and inflow of new funds [2][4][9]. Fund Growth and Performance - In November, all types of public funds experienced positive growth, with Fund of Funds (FOF) seeing a significant increase of 13.64% in share volume, leading among all fund types. QDII funds also recorded a net subscription of 7.15%, while stock funds saw a growth of over 2% in share volume [3][10]. - Despite the overall positive trend, stock and mixed funds experienced a slight decline in scale due to adjustments in the stock market in November [3][11]. Fund Management Institutions - As of the end of November 2025, there are 165 public fund management institutions in China, including 150 fund management companies and 15 asset management institutions with public fund qualifications [5]. Fund Categories and Data - The total number of public funds reached 13,490, with a total share volume of 317.05 billion and a net asset value of 370.18 billion yuan as of November 30, 2025. This represents a month-on-month growth of 0.16% in scale and 1.04% in share volume [6][7]. - Specific fund categories showed varied performance: - Stock funds: 3,371 funds, 38,210.97 million shares, 57,982.89 billion yuan (down 2.20% in scale) [6][12]. - Bond funds: 3,858 funds, 88,657.06 million shares, 105,240.51 billion yuan (up 0.33% in scale) [6][12]. - Money market funds: 362 funds, 151,859.24 million shares, 151,876.09 billion yuan (up 0.90% in scale) [6][12]. - Mixed funds: 4,820 funds, 25,832.10 million shares, 35,988.03 billion yuan (down 1.96% in scale) [6][12]. - FOF: 532 funds, 2,167.63 million shares, 2,355.44 billion yuan (up 11.74% in scale) [6][12]. - Other funds (including QDII): 547 funds, 10,322.51 million shares, 16,736.54 billion yuan (up 4.08% in scale) [6][12]. Market Trends - The public fund market has shown strong growth momentum over the past six months, with the total scale increasing by 4.19 trillion yuan year-to-date, representing a growth rate of 12.77% compared to the end of last year [9]. - The trend indicates a robust recovery in the capital market, with significant inflows into various fund types, particularly FOF and QDII funds, which are expected to maintain their growth trajectory [14].