截至5月19日，全市场债基数量已超3800只，总规模突破 10.1万亿元。然而，外商独资公募在该领域的布局仍显单薄 ——此类公募旗下的73只债基合计规模仅约1179亿元，占全 市场比重约1.17%，近30%的产品规模不足2亿元。 作者：陈姗 封图：图虫创意 一边是新产品加速发行，一边是老产品规模"迷你化"，外商独资公募旗下债券型基金产品线正面临 尴尬处境。 Wind数据显示，截至5月19日，全市场债基数量已超3800只，总规模突破10.1万亿元。然而，外商 独资公募在该领域的布局仍显单薄——此类公募旗下的73只债基合计规模仅约1179亿元，占全市 场比重约1.17%，近30%的产品规模不足2亿元。 5月15日，富达中债0-2年政金债基金发布公告称，截至5月13日，该基金已连续30个工作日基金资 产净值低于5000万元，可能出现触发《基金合同》终止的情形。记者注意到，该产品成立仅8个月 便遭遇巨额赎回，成立初规模约24亿元，至今年一季度末时降至0.3亿元。 从加速布局到规模之困 2024年以来，债券型基金成为外商独资公募布局重点。Wind数据显示，截至5月19日，富达、贝 莱德、路博迈、施罗德、安联等8家外商独 ...

Core Viewpoint - Foreign-funded public funds are facing challenges in the bond fund sector, with a significant number of their products experiencing scale shrinkage and underperformance in returns [1][6][7]. Group 1: Market Overview - As of May 19, the total number of bond funds in the market exceeded 3,800, with a total scale surpassing 10.1 trillion yuan [1]. - Foreign-funded public funds have only 73 bond funds with a combined scale of approximately 117.9 billion yuan, accounting for about 1.17% of the total market [1][2]. Group 2: Product Performance - The Fidelity China Bond 0-2 Year Government Bond Fund faced significant redemptions, dropping from an initial scale of 2.4 billion yuan to 30 million yuan within eight months [1][3]. - Many foreign-funded bond funds, despite initial successful fundraising, have struggled to maintain their scale, with some funds shrinking significantly post-launch [3][4]. Group 3: Challenges Faced - Foreign-funded public funds are at a disadvantage in channel resources and face challenges in product differentiation due to market homogenization [2][6]. - The local adaptation of foreign-funded funds in the Chinese market is limited, affecting their ability to meet local investor needs [6]. Group 4: Performance Metrics - The average yield of foreign-funded public bond funds is 0.47%, underperforming the overall market average of 0.63% [7]. - Over 40% of foreign-funded bond funds have failed to outperform their performance benchmarks since inception [7]. Group 5: Market Trends - The bond fund market has seen a contraction, with a reduction of nearly 482 billion yuan in total scale by the end of the first quarter of 2024 [8].