Core Insights - The public fund issuance continues to show signs of recovery, with a notable increase in both equity and bond funds [1][4]. Equity Funds - Equity funds emerged as the dominant force in the issuance market for November, with 69 stock funds launched, accounting for 47.59% of total issuances. Additionally, 31 mixed equity funds were issued, making up 21.38% [2]. - A total of 100 equity-related funds were issued, representing 68.97% of the total issuance for the month, indicating strong confidence from fund companies and investors in the equity market [2]. - Among stock funds, passive index funds led the way with 49 issued, comprising 33.79% of total fund issuances. Enhanced index funds accounted for 12.41% with 18 issued, while ordinary stock funds only had 2 issued, representing 1.38% [2]. Bond Funds - The issuance of bond funds saw a significant month-on-month increase, with 23 bond funds launched in November, up 64.29% from 14 in October. Mixed bond funds made up 65.22% of this total with 15 issued [2]. - The bond funds continue to focus on a "fixed income plus" strategy, seeking moderate equity-enhanced returns [2]. FOF (Fund of Funds) - November saw a remarkable performance in FOF products, with 17 issued, marking a new monthly high for 2025 and breaking a 31-month record [3]. - By the end of November 2025, 76 new FOFs had been established, more than double the total from the previous year, with issuance reaching 713.53 billion units, the highest in nearly four years [3]. Market Trends - The overall fund issuance market is experiencing a recovery, driven by stable equity fund issuance and significant growth in bond and FOF fund issuance [3][5]. - Factors contributing to this trend include expectations of declining market interest rates and the need for risk aversion in the equity market, which have spurred demand for bond funds [5]. - Regulatory guidance encouraging long-term capital investment has also supported the growth of FOF funds, which align well with institutional needs for asset allocation and risk diversification [5].

Group 1 - The core viewpoint of the article highlights a significant increase in the number of new funds issued in the first 11 months of the year, with a total of 1,375 new funds and a fundraising scale exceeding 1.06 trillion yuan, indicating a structural shift towards equity funds which now account for over half of the total [1][2][4] Group 2 - In the first 11 months, the number of newly established funds reached 1,376, with total issuance of 10,624.56 billion units, reflecting a year-on-year increase of 34.38% in quantity and 2.72% in scale [2] - Equity funds (including stock and mixed funds) and bond funds have become the main drivers of issuance, with 768 stock funds raising 390.44 billion units (36.71%) and 257 mixed funds raising 147.07 billion units (13.84%), together accounting for 50.55% of the total [2] - The structure of new fund issuance has changed significantly compared to the previous year, with equity funds now making up more than half of the total, while bond funds have seen a decline in fundraising scale by over 40% [2] - FOF products have experienced explosive growth, with 69 products established this year, raising a total of 73.55 billion units, which is 5.53 times that of the same period last year [2] Group 3 - In November, 136 new funds were established, with a total issuance of 945.67 billion units, maintaining a relatively fast pace despite market fluctuations [4] - Equity funds continued to be the main contributors in November, raising 546.69 billion units (57.81%), while bond funds raised 216.66 billion units, marking a new low for the year [4] - The issuance of FOF products remained strong, with 11 products raising a total of 169.75 billion units in November [4] Group 4 - Among individual products, stable types have attracted more capital, with the top 10 products in terms of issuance being FOF or bond funds [3] - Notable individual fund issuances include the E Fund Industry Preferred Fund raising 31.62 billion units, and other funds like the E Fund Technology Pioneer and China Universal Xin Yue Fund also achieving significant fundraising [5][6] - In the FOF category, several products exceeded 13 billion units in fundraising, indicating strong investor interest [6]

来源：中国基金报 今年前11个月，基金发行市场呈现"数量大增，规模略增，结构调整"的特征：新发数量超过1375只，同 比增近35%；募集份额超过1.06万亿份，较去年同期略增。其中，权益基金发行爆发，募集规模超越债 券基金，占比过半。 具体到11月份，新基金发行多点开花，主动权益、公募FOF，以及"固收+"等品种均诞生了多只"小爆 款"。 前11月新基金募资超1万亿元 权益基金规模占比超过半数 单只产品方面，稳健类品种更受资金青睐，发行规模较大的10只产品均为FOF或债券基金(含指数债 基)。其中，东方红盈丰稳健配置6个月持有、富国盈和臻选3个月持有两只混合FOF分别募资65.73亿 份、60.01亿份；京管泰富中债京津冀综合指数债基、天弘中债投资级公司信用债精选指数债基，以及 惠升和盛纯债、贝莱德中债投资优选绿色指数、汇安裕宏利率债、施罗德添源纯债、浦银安盛普航3个 月定开、国泰中债优选投资级信用债指数等债券基金发行份额均在60亿份左右。 11月新基金发行多点开花 11月以来，股债市场震荡调整，新基金发行整体仍保持较快节奏。Wind数据显示，11月新成立基金136 只，合计发行份额达945.67亿份。月度发 ...

人民财讯12月1日电，公募基金发行市场在11月迎来一轮"小阳春"。数据显示，截至11月30日，当月新 成立公募基金总规模达966.16亿元，逼近千亿元大关，表明投资者认购热情高涨。全月共计新成立基金 136只，发行市场呈现量价齐升的积极态势，凸显年末资金配置需求增加。 ...

Core Insights - The new fund issuance market in the first 11 months of the year has shown significant growth in quantity, with over 1,375 new funds launched, a year-on-year increase of nearly 35%, while the total fundraising amount reached over 1.06 trillion yuan, slightly up from the previous year [1][2] - Equity funds have surged, surpassing bond funds in fundraising scale, accounting for over half of the total issuance [1][2] Fund Issuance Overview - As of November 28, 2023, a total of 1,376 new funds were established, with total issuance reaching 1,062.46 billion units, marking a 34.38% increase in the number of funds and a 2.72% increase in fundraising compared to the same period last year [2] - Equity funds (including stock and mixed funds) and bond funds have been the main drivers of issuance, with 768 stock funds raising 390.04 billion units (36.71%) and 257 mixed funds raising 147.07 billion units (13.84%), together accounting for 50.55% of the total [2] - The structure of new fund issuance has shifted significantly compared to last year, with equity funds now making up over half of the total, a substantial increase from 21.47% for stock funds and 5.92% for mixed funds last year [2] November Fund Issuance - In November, 136 new funds were established, with a total issuance of 94.57 billion units, indicating a steady pace despite market fluctuations [4] - Equity funds continued to dominate, raising 54.67 billion units (57.81%), while bond funds raised 21.67 billion units, marking a new low for the year [4] - FOF products maintained strong performance, with 11 new products raising a total of 16.98 billion units, following a record high in October [4] Popular Products - Among individual products, stable funds attracted significant interest, with the top 10 largest issuances being FOF or bond funds [3] - Notable fund issuances included the E Fund Industry Preferred with 3.16 billion units, and the Fuguo Xinghe and Penghua Qihang Quantitative Stock with 3 billion and 2.98 billion units respectively, all completed within a single day [5] - In the FOF category, E Fund Ruiyi Ying'an raised over 5.8 billion units, with several other products exceeding 1.3 billion units [6]

【导读】前11月新基金发行募资规模超1.06万亿元，权益基金占比过半 中国基金报记者 天心 今年前11个月，基金发行市场呈现"数量大增，规模略增，结构调整"的特征：新发数量超过1375只，同比增近35%；募集份额超过1.06 万亿份，较去年同期略增。其中，权益基金发行爆发，募集规模超越债券基金，占比过半。 具体到11月份，新基金发行多点开花，主动权益、公募FOF，以及"固收+"等品种均诞生了多只 " 小爆款 " 。 前11月新基金募资超1万亿元 权益基金规模占比超过半数 Wind数据显示，截至11月28日，年内新成立基金1376只，总发行份额达10624.56亿份。与去年同期相比，成立数量增长34.38%，募集 规模增长2.72%。 从产品类型看，权益类基金（股票型+混合型）与债券基金成为发行主力。其中，新成立债券型基金245只，合计募集4306.39亿份，占总 募集规模的40.53%。权益类基金方面，768只股票型基金募集3900.44亿份，占比 为 36.71%；混合型基金成立257只，募集1470.72亿 份，占比 为 13.84%，两类合计占比达50.55%。 对比去年同期，今年新基金发行结构发生明显 ...

Market Overview - The Shanghai Composite Index rose by 0.05% to close at 3836.77 points, with a daily high of 3854.33 points [1] - The Shenzhen Component Index increased by 0.37% to close at 12585.08 points, reaching a peak of 12655.29 points [1] - The ChiNext Index gained 0.31%, closing at 2929.04 points, with a maximum of 2951.43 points [1] Margin Trading and Securities Lending - The total margin trading and securities lending balance in the Shanghai and Shenzhen markets was 24511.26 billion yuan, with a financing balance of 24347.55 billion yuan and a securities lending balance of 163.71 billion yuan, reflecting a decrease of 27.05 billion yuan from the previous trading day [2] - The Shanghai market's margin trading balance was 12499.83 billion yuan, down by 6.24 billion yuan, while the Shenzhen market's balance was 12011.43 billion yuan, decreasing by 20.81 billion yuan [2] - A total of 3459 stocks had financing funds for purchase, with the top three being Zhongji Xuchuang (32.15 billion yuan), BlueFocus (21.16 billion yuan), and Industrial Fulian (15.62 billion yuan) [2][3] Fund Issuance - On the previous day, 29 new funds were issued, including various bond and mixed funds such as Ping An Tianyuan 6-Month Bond A and C, and Longxin Stable Benefit Bond A and C [4][5] - The issuance date for all listed funds was November 24, 2023 [5][6] Top Net Purchases on the Dragon and Tiger List - The top net purchases on the Dragon and Tiger list included BlueFocus with a net buy of 89827.37 million yuan, followed by Shenggu Group (20313.41 million yuan) and Huasheng Tiancai (17842.83 million yuan) [7][8] - Other notable net purchases included Langchao Software (11823.82 million yuan) and Haima Automobile (11424.96 million yuan) [8]

【导读】本周 21 只新基金启动募集，权益基金为主力 中国基金报记者 天心 本周（ 11 月 24 日 —11 月 28 日） 5 个交易日，将有 21 只新基金登台亮相，面向投资者公开发行。市场步入调整期，权益基金虽仍 为新基金发行主力，但占比较此前有所下滑，多只 " 固收 +" 品种强势登场。 本周 21 只新基金发行 具体来看，周一（ 11 月 24 日）是新基金发行的关键日，本周 21 只新发基金中 15 只扎堆在周一发行，占本周新基金的七成以上；周 二、周五无新基金启动募集，周三、周四分别有 2 只、 4 只基金开始认购。 从认购天数来看，本周新基金中，认购天数最长为三个月，来自恒生前海成长动力、大摩添益等。中邮北证 50 成份指数增强、招商资管中 证机器人指数紧随其后；富国稳健双景认购天数为 21 天；国联稳健鑫益、东方红中证全指指数增强等认购天数为 19 天。 整体来看， 21 只新基金平均认购天数为 23.29 天，较此前有所拉长。 业内认为，这或与近期市场行情步入调整有关。尤其上周，在美联储降息预期减弱、全球流动性收缩，以及地缘政治冲突等因素影响下， 全球股市出现较大波动。 本周新基金中，认 ...

一、证券市场回顾 沪深两市的融资融券余额为24538.31亿元，其中融资余额24375.6亿元，融券余额162.71亿元。两市融资融券余额较前一周减少310.35亿元。分市场来看，沪 市两融余额为12506.07亿元，相较前一周减少148.54亿元；深市两融余额12032.24亿元，相较前一周减少161.82亿元。 南财金融终端数据显示，上周(11月17日-11月21日,下同)，上证综指周内下跌3.9%，收于3834.89点，最高3992.4点；深证成指周内下跌5.13%，收于12538.07 点，最高13251.78点；创业板指周内下跌6.15%，收于2920.08点，最高3137.07点。在全球市场中，主要指数均下跌。纳斯达克综指下跌2.74%，道琼斯工业 指数下跌1.91%，标普500下跌1.95%。亚太地区，恒生指数下跌5.09%，日经225指数下跌3.48%。 二、新股申购情况 上周有2只新股发行,详情见下表： | 股票代码 | 股票简称 | 申购日期 | | --- | --- | --- | | 001280.SZ | 中国钩业 | 20251121 | | 920035.BJ | 精创电气 | ...

Market Overview - The Shanghai Composite Index decreased by 0.18% last week, closing at 3990.49 points, with a high of 4034.08 points [1] - The Shenzhen Component Index fell by 1.4%, ending at 13216.03 points, with a peak of 13502.16 points [1] - The ChiNext Index dropped by 3.01%, closing at 3111.51 points, with a maximum of 3236.61 points [1] - In global markets, the Nasdaq Composite Index declined by 0.45%, while the Dow Jones Industrial Average rose by 0.34% and the S&P 500 increased by 0.08% [1] - In the Asia-Pacific region, the Hang Seng Index increased by 1.26% and the Nikkei 225 rose by 0.2% [1] New Stock Issuance - Two new stocks were issued last week: Hai'an Group (001233.SZ) on November 14, 2025, and Nante Technology (920124.BJ) on November 11, 2025 [2] Margin Trading - The total margin trading balance in the Shanghai and Shenzhen markets was 24848.66 billion yuan, with a financing balance of 24668.62 billion yuan and a securities lending balance of 180.04 billion yuan [3] - The margin trading balance decreased by 8.73 billion yuan compared to the previous week [3] - The Shanghai market's margin trading balance was 12654.61 billion yuan, down by 37.1 billion yuan, while the Shenzhen market's balance was 12194.06 billion yuan, up by 28.38 billion yuan [3] - A total of 3463 stocks had margin buying, with 182 stocks having buying amounts exceeding 1 billion yuan, led by Sunshine Power, Zhongji Xuchuang, and Xinyi Sheng with buying amounts of 124.22 billion yuan, 118.0 billion yuan, and 93.21 billion yuan respectively [3][4] Fund Issuance - Eight new funds were issued last week, including Vanguard Cash Treasure B, Penghua Zhongdai 1-3 Year National Development Bank Bond Index I, and others [5] Company Buybacks - Ten companies announced share buybacks last week, with the highest amounts executed by Rejing Bio (688068) at approximately 30.01 million yuan, Wanma Co. (002276) at about 15.77 million yuan, and Shenzhen Ruijie (300977) at around 9.81 million yuan [6][7]