Core Insights - The report highlights a strong performance in the public fund sales sector in China, with significant growth in the assets under management (AUM) of top fund distribution institutions, particularly in equity funds and index funds [1][3]. Group 1: Rankings and Distribution - The top ten fund distribution institutions remain unchanged, featuring 24 banks, 57 brokerages, 18 third-party distributors, and 1 insurance company, with Ant Fund and China Merchants Bank showing substantial growth [2][3]. - The top ten in the bank distribution list includes China Merchants Bank, Industrial and Commercial Bank of China, China Construction Bank, Bank of China, and others, while the brokerage list is led by CITIC Securities and Huatai Securities [2]. Group 2: Growth in Assets Under Management - The total AUM of the top 100 equity funds reached 51,374 billion yuan, an increase of 2,856 billion yuan or 5.89% from the end of 2024 [3]. - Non-monetary market funds saw a total AUM of 101,993 billion yuan, up by 6,626 billion yuan or 6.95% [3]. - The AUM of stock index funds surged to 19,522 billion yuan, marking a significant increase of 2,483 billion yuan or 14.57% [3]. Group 3: Focus on Index Products - The report indicates a strong push towards index products, with the AUM of stock index funds growing significantly, particularly among brokerages, which dominate this segment [4][5]. - Brokerages hold a combined AUM of 10,804 billion yuan in stock index funds, accounting for over 55% of the total AUM of the top 100 [4]. - Commercial banks also increased their focus on index fund distribution, with their AUM in stock index funds rising by 38.69% to 2,667 billion yuan [5]. Group 4: Performance of Third-Party Distributors - Ant Fund, as a third-party distributor, reported an increase of 841 billion yuan in its equity fund AUM, with stock index funds contributing 709 billion yuan to this growth [6].

从具体机构来看，蚂蚁基金和招商银行两大代销巨头，上半年的权益基金保有规模均增加超过800亿 元，增长规模远超其他代销机构；这两家机构的非货币市场基金保有规模分别增加1146亿元和915亿 元，蚂蚁基金突破1.5万亿元，招商银行突破1万亿元。另外，天天基金的非货币市场基金保有规模突破 6000亿元，较2024年底增加620亿元，增幅也非常可观。 上半年，中国人寿保险的权益基金保有规模增至1114亿元，使得权益基金保有规模在1000亿元以上的机 构增至11家；非货币市场基金保有规模在1000亿元以上的机构达到26家。 代销机构发力指数产品 □本报记者 王宇露 9月12日晚间，中国证券投资基金业协会公布了上半年基金销售机构公募基金销售保有规模数据，公募 权益基金代销百强名单出炉。前十排名保持不变，蚂蚁基金和招商银行保有规模大幅提升，"强者恒 强"局面凸显。上半年，资金入市意愿强烈，百强权益基金保有规模进一步增长。尤其是股票型指数基 金成为代销机构发力的重点，券商在指数基金领域的绝对优势继续维持，银行渠道也开始重视指数产 品。 前十排名保持稳定 百强名单中，共有24家银行、57家券商、18家第三方代销机构和1家保险公 ...