Core Viewpoint - The issuance of active equity funds in China has rebounded significantly this year, with a total of 276 new funds established and a total fundraising scale of 141.068 billion yuan, representing a year-on-year increase of 132.25% [2][4]. Group 1: Active Equity Fund Issuance - A total of 276 active equity funds were established this year, with a fundraising scale of 141.068 billion yuan, marking a 132.25% year-on-year growth [4][5]. - There were 73 active equity funds that ended their fundraising early, indicating strong demand, with several funds being sold out in just one day [5]. - The rebound in active equity fund issuance is attributed to the recovery of the A-share market, improvements in corporate earnings, and supportive government policies aimed at encouraging long-term investments in equity markets [5]. Group 2: Passive Index Product Issuance - The issuance of passive index products has also surged, with over 760 new index funds established this year, raising over 550 billion yuan, reflecting a year-on-year growth of 89.36% in number and 24% in scale [6][7]. - The market is currently experiencing a phase where both active equity and passive index products are growing, with a diversification of investment tools available to investors [7]. - The future performance of active equity funds will depend on their ability to consistently generate returns that exceed market performance and their differentiation from passive products [7].

Core Insights - The number of newly issued funds has significantly increased due to a recovering market sentiment, with 1,371 funds launched in 2023, the highest in three years [1] Fund Issuance Trends - The pace of fund issuance has accelerated, reflecting both improved market sentiment and proactive industry positioning [1] - A total of 1,235 funds have been established this year, with notable characteristics observed in the new offerings [2] Index Funds Dominance - Index funds continue to lead the market, with 727 index funds launched this year, accounting for 58.87% of total new funds [3] - The total fundraising for all established funds this year is 9,653.34 billion yuan, with index funds contributing 5,289.86 billion yuan [3] Breakdown of Index Funds - Passive index equity funds are the mainstream, with 526 funds launched and a total issuance of 2,682.66 billion yuan [4] - Passive index bond funds have emerged as "blockbuster makers," with 57 funds launched and a total issuance of 1,804.88 billion yuan, including 47 funds exceeding 2 billion yuan [5] - Enhanced index funds have also seen significant growth, with 144 funds launched and a total issuance of 802.32 billion yuan [5] Market Dynamics - The number of "one-day sold-out" funds has increased, with 96 funds achieving this status, including 39 with a fundraising scale exceeding 1 billion yuan [6] - The emergence of "mini funds" is notable, with 254 funds having an issuance scale of less than 200 million yuan, representing 20.57% of total new funds [6][7] Strategic Marketing - The rise of "initiated funds" is a marketing strategy for fund companies to quickly establish products in popular sectors, enhancing brand visibility [8] Competitive Landscape - The competition among leading fund companies remains intense, with the top firms dominating the number of new fund launches [9] - In terms of fundraising scale, the top ten fund companies each raised over 20 billion yuan this year [10] - Southern Fund leads in total issuance with 478.57 billion yuan, followed by Huaxia Fund and E Fund [11][12] Industry Polarization - A significant disparity exists in the market, with 59 out of 188 public fund managers not launching any new funds this year [12] - The top 30 fund companies captured 70.2% of the total fundraising, indicating a trend of resource concentration among leading firms [12]

Core Insights - The public fund issuance market has shown a strong recovery trend, with a total fundraising scale of 26.5 billion yuan during the week of November 3 to November 9, indicating a warming market sentiment [1][4] - Active equity products have become the dominant force in the issuance market, with stock and mixed funds raising a total of 21.8 billion yuan, accounting for 82.4% of the total issuance [1][2] - There is a notable increase in enthusiasm for overseas investments, highlighted by the establishment of two QDII funds focused on the Brazilian market, which collectively raised over 5.1 billion yuan [1][3] Fundraising Details - A total of 41 new funds were established during the week, with an average fundraising scale of 646 million yuan [1] - Among active equity funds, 21 stock funds raised 9.4 billion yuan (35.6%), while 9 mixed funds raised 12.4 billion yuan (46.8%), together exceeding 80% of the total issuance [1][2] - Bond funds raised 4.1 billion yuan (15.3%), while QDII funds raised 600 million yuan (2.3%) [1] Market Trends - The surge in active equity funds is attributed to improved market sentiment and increased risk appetite among investors, as well as proactive positioning by fund companies [2][4] - Leading institutions such as E Fund, Fortune, and Penghua have launched representative products, showcasing a variety of strategies including quantitative stock selection and industry themes [2] - The issuance of QDII funds targeting emerging markets like Brazil reflects a growing interest in international asset allocation opportunities [3]

新华财经上海10月13日电进入四季度后，基金发行明显升温。 据公募排排网统计数据显示，按认购起始日计算，本周（2025年10月13日至10月19日）全市场共有52只 新基金启动认购，较此前一周的24只实现116.67%的环比增长，同时创出年内次新高。与此同时，新发 产品的平均认购周期为12.73天，虽较此前一周基本持平，但整体已较前期出现明显缩短。 排排网集团旗下融智投资FOF基金经理李春瑜指出，近期公募基金发行市场回暖、募集周期缩短，主要 得益于市场表现、公募业绩与投资者情绪的多重共振。具体来看，A股市场持续走强，上证指数突破 3900点，创近十年新高，结构性机会频现，有效提振了权益资产配置热情。另一方面，公募基金赚钱效 应显著，三季度主动权益类产品平均收益率达25.93%，进一步强化了投资者的参与信心。此外，政策 支持与基金公司"控量提质"的发行策略，也共同推动了认购意愿的提升。 | 本周开启认购公募基金分类型统计 | | | | | --- | --- | --- | --- | | 投资类型(一级) | 投资类型(二级) | 产品数量 | 占比 | | 股票型基金 | 被动指数型基金 | 23 | 4 ...

Core Insights - In September, the A-share market experienced significant growth, surpassing 3,800 points, leading to a recovery in the new fund issuance market, with a total of 201 new public funds established, marking the highest monthly figures of the year [1][3] Fund Issuance Overview - The total issuance volume of new funds in September reached 1,673.39 billion units, representing a month-on-month increase of 93.26% and 64.02% respectively [1][3] - In the first three quarters of the year, new fund issuance exceeded 8,900 billion units, an increase of nearly 400 billion units compared to the same period last year, with 1,148 new funds launched, surpassing the total for the entire year of 2024 [3] Fund Types and Performance - In September, the majority of newly established funds were equity funds, with 104 new equity funds launched, a 22.35% increase from August [3] - Bond funds also saw significant growth, with 39 new bond funds established, a 62.5% increase from the previous month [3] - The issuance of equity funds accounted for 39.35% of the total issuance, with a volume of 658.44 billion units, reflecting a nearly 40% month-on-month increase [3] - Mixed funds and bond funds also showed strong performance, with mixed funds at 302.92 billion units (18.10% share) and bond funds at 659.59 billion units (nearly 40% share), both experiencing substantial month-on-month growth [3] Notable Fund Products - The top-performing funds in September were index funds, with notable issuances including BlackRock's China Bond Investment Preferred Green Index A and China Merchants Balanced Preferred A, with issuance sizes of 6 billion and 4.955 billion respectively [4] - The second batch of 14 science and technology bond ETFs was launched in mid to late September, with a total issuance scale of 407.86 billion, contributing to a total scale of over 2,300 billion for science and technology bond ETFs [4] Market Outlook - There were 48 funds that announced early closure in September, indicating increased market activity and investor confidence [5] - Industry insiders remain optimistic about the future of the fund issuance market, expecting continued recovery driven by favorable policies and market conditions [5] - Following the National Day holiday, around 100 new funds are set to compete in the market, with 30 currently in issuance and 70 more planned for October, predominantly in equity categories [5]

随着股市持续升温，权益基金发行市场正迎来一股暖流。9月以来，新基金发行市场上不仅"日光基"再 现，更有多达10只权益类基金选择提前结束募集，权益基金回暖已经成为普遍现象。分析人士指出，自 2024年市场显著反弹以来，投资者信心明显回暖，对权益类产品的需求增加，叠加基金公司积极把握市 场机遇，共同促成了当前基金发行的火热景象。 ...