踏入2026年，A股在新年首个交易日迎来"开门红"，不仅三大股指收涨，上证指数更重返4000点。市场热火朝天的同时，一批新基金也集中发售。公开信息 显示，仅1月5日，就有28只新基金（份额合并计算，下同）开售，新年首个交易周合计有超40只新基金齐发。拉长时间至1月来看，则有超70只基金待发， 其中多达六成为权益类基金，更有部分绩优基金经理"掌舵"的新品募集。在业内人士看来，低利率、监管鼓励、指数工具爆发三大因素叠加的背景下，2026 年权益类基金成为新发"主力军"的趋势大概率延续。 | 序号 | 招募说明书公告日 。 7 | 基金代码 ( | 7 | 基金简称 = | T 投资 - 7 | 基金面值(元) ↓ | 友行价格(元) | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 2025-12-31 | 025096.OF | | 盤元望享180天持有债券A | 混合债券型基金( ... | 1.0000 | | | 2 | 2025-12-31 | 026382.OF | | 中航洞见领航混合A | 偏股混合型基金 | 1.0000 | | ...

八年磨一剑，公募FOF迎来重获口碑的历史性时刻！ 在市场风格日趋赛道化的背景下，敏锐布局资源、科技等行业主题基金，正成为FOF产品业绩和规模突围的关 键，公募FOF首只业绩翻倍产品在近期出现，也意味着这一产品类别已进入快速成长的新阶段，随着投资者认 可度提升，FOF市场规模已突破1800亿元大关。 Wind数据显示，截至2025年12月7日，全市场首只收益率翻倍的FOF花落前海开源基金。前海开源裕源FOF成 立于2018年5月，截至今年三季度末的资产规模为1.68亿元，该产品今年以来收益率为38%，当前产品净值为 2.29元，成立以来的收益率为129%。 紧随其后的一批公募也展现出较好的长期回报能力，包括兴全安泰平衡持有、中欧预见养老、鹏华养老2045混 合、嘉实养老2050混合、南方养老2035混合、南方合顺多资产等FOF基金，成立以来的收益率分别为79.61%、 70.12%、69.40%、64%、63.72%、63.54%，截至今年三季度末，上述FOF产品资产规模分别是9.69亿元、11.82 亿元、2.8亿元、4.57亿元、7.36亿元、0.67亿元。 上述排名十强的产品均非首批发行的公募FOF，在2 ...

今年前11个月，权益类基金收益率平均值为24.85%。6960只产品年内录得正收益，16只产 品净值跌幅超过10%，它们都有谁？ 作者｜资市分子 随着2025年逐步进入收官阶段，公募行业中权益类基金业绩表现备受瞩目。 2025年，A股市场行情经历从低谷到反弹，再到震荡。前11个月，上证指数、深证成指、创业板指涨幅 分别为16.02%、24.67%、42.54%。电子、人工智能、通信、创新药等领域投资机会频现。 权益类基金赚钱效应显现。前11个月，万得普通股票型基金指数、万得偏股混合型基金指数、万得灵活 配置型基金指数、万得指数增强型基金指数涨幅均超过20%。 永赢科技智选A以191.71%的收益率"遥遥领先"，拉开第二名50多个百分点。 排第二的恒越优势精选A，收益率136.72%。中航机遇领航A、中欧数字经济A、红土创新新兴产业A则 分别以135.34%、124.37%、120.91%收益率，排第三名至第五名。 交银择优回报A、广发成长领航一年持有A、汇安成长优选A、兴证资管金麒麟兴享优选B、信澳业绩驱 动A收益率分别为120.84%、119.03%、118.26%、116.89%、114.87%，排在第六 ...

来源 资市会 今年前11个月，权益类基金收益率平均值为24.85%。6960只产品年内录得正收益，16只产品净值跌幅 超过10%，它们都有谁？ 作者|资市分子 随着2025年逐步进入收官阶段，公募行业中权益类基金业绩表现备受瞩目。 2025年，A股市场行情经历从低谷到反弹，再到震荡。前11个月，上证指数、深证成指、创业板指涨幅 分别为16.02%、24.67%、42.54%。电子、人工智能、通信、创新药等领域投资机会频现。 权益类基金赚钱效应显现。前11个月，万得普通股票型基金指数、万得偏股混合型基金指数、万得灵活 配置型基金指数、万得指数增强型基金指数涨幅均超过20%。 据Wind统计，前11个月，全市场7118只权益类基金（只统计基金主代码，剔除今年新成立产品）收益 率均值为24.85%，其中6960只产品年内录得正收益，占比97.78%。收益率超50%的有729只，但也有158 只基金收益率为负。 权益类基金收益率首尾差距也大，达211.23%。 "资市会"注意到，有23只权益类基金收益率超100%，其中11只三季度末管理规模不足10亿元。同时有 16只基金净值跌幅超过10%，其中11只三季度末管理规模 ...

Core Viewpoint - The public fund issuance market experienced a "small spring" in November, with a total new fund scale reaching 96.616 billion yuan, indicating strong investor enthusiasm for subscriptions [1][5]. Fund Issuance Overview - A total of 136 new funds were established in November, showcasing a positive trend in both volume and price, driven by increased year-end capital allocation needs [1][7]. - The top fund by issuance scale was E Fund's E Fund Ruiyi Ying'an 6-Month Holding A, with 5.848 billion yuan, followed by Great Wall Fund's Great Wall Yuanli A at 5.251 billion yuan [1][3]. Fund Types and Performance - Equity funds (stock and mixed types) remained the main force in the market, with stock fund issuance reaching 30.669 billion yuan, accounting for 32.43% of the total scale [5]. - Mixed funds followed with an issuance scale of 23.999 billion yuan, making the total for equity funds 54.669 billion yuan, which constituted 57.81% of the total issuance [5]. Popular Fund Products - Notable high-raising products included mixed equity funds like Fu Guo Xing He A (3 billion yuan) and Peng Hua Qi Hang Quantitative Stock Selection (2.982 billion yuan) [5]. - Passive index funds also gained traction, covering various sectors, with notable products like Wan Jia Zhong Zheng 800 Dividend Low Volatility Index A raising 1.723 billion yuan [5]. International Market Interest - Funds targeting overseas emerging markets, particularly two ETFs focused on Brazil, attracted significant interest, raising a total of 3 billion yuan, exceeding their initial fundraising cap by over seven times [6]. Stability and Growth in Fund Types - Bond funds raised 21.666 billion yuan, accounting for 22.91% of the issuance market, serving as an important stabilizer [6]. - Fund of Funds (FOF) also performed well, with an issuance scale of 16.975 billion yuan, reflecting investor preference for professional fund selection and risk diversification [6]. Market Sentiment and Future Outlook - Analysts noted that the concentration of fund establishment dates in November allowed new products to meet year-end capital allocation needs, indicating that public funds continue to attract incremental capital into the market [7][8]. - The issuance volume approaching 100 billion yuan is seen as a positive signal for market confidence and structural optimization for the upcoming year [7][8].

鑫元基金旗下权益类基金普遍面临基金经理从业年限短、在管基金规模小，投资收益不太理想的问题。 文｜资市分子 随着A股市场波动上行，投资者入场意愿增强，公募新基金发行市场复苏趋势明显。 Wind数据显示，截至11月25日，以基金成立日为统计口径，今年以来全市场新成立基金达1363只，发行规模合计为1.09万亿元，一举扭转过去多年产品发行 颓势。其中，权益类基金有1013只，占比为74.32%。 繁荣景象之下，仍有新产品需延长募集期。 在产品募集效率显著提升时，公募行业中仍有小部分产品延长募集期。根据Wind数据，截至11月26日，全市场年内有485只基金进行了募集期调整，其中延 长募集期的产品为98只，占比为20.21%。 "资市会"注意到，鑫元港股通领航也是延长募集期中的一员。招募说明书显示，该基金于2025年9月18日获得中国证监会准予注册批文，并在2025年11月5日 开始募集，原定募集截止日为2025年11月21日，后延长至2026年2月4日（含当日）。 鑫元港股通领航的拟任基金经理是王丽军，她曾在深圳永泰软件公司任项目实施专员，大公国际资信评估公司任行业评级部经理，东吴基金管理公司行业研 究员，申万巴黎 ...

Group 1 - The core viewpoint of the articles highlights a significant increase in the number of mutual funds that have ended their fundraising early in 2023, with a total of 375 funds making such announcements, reflecting a growing investor interest in equity funds, particularly in the technology sector [1][2] - Among the 375 funds that ended fundraising early, 225 were equity funds, accounting for 60% of the total, which is a notable increase of 17.75 percentage points compared to the same period last year [1] - The trend of early fundraising closures is seen as a positive indicator of market recovery and investor optimism, as stated by industry experts [1][2] Group 2 - In the equity fund category, passive index funds accounted for over 50% of the early closures, with 115 such funds ending their fundraising early [2] - Active equity funds also saw an increase in early closures, with some funds, like the China Europe Xin Yue Return Fund, exceeding their fundraising target of 1.5 billion yuan on the first day of subscription [2] - Experts suggest that early fundraising closures allow fund managers to secure capital quickly and optimize their investment strategies, enhancing the overall investment experience for investors [2] Group 3 - Despite the positive sentiment around early fundraising closures, experts caution investors to make rational choices and not to blindly chase after these products, emphasizing the importance of understanding the fund's investment scope and the manager's track record [3] - The relationship between early fundraising closures and the quality of the funds is not necessarily direct, as it may reflect market trends and issuance strategies rather than inherent fund quality [3]

Core Insights - The total scale of public funds in China has reached a historic high of 36.74 trillion yuan as of September 2025, marking a continuous increase for six months since April 2023 [1][4]. Group 1: Public Fund Growth - As of September 2025, there are 165 public fund management institutions in China, including 150 fund management companies and 15 asset management institutions with public qualifications [1]. - The public fund total has consistently broken records, surpassing 33 trillion, 34 trillion, 35 trillion, and 36 trillion yuan in recent months [1][4]. - The growth in public fund scale is significantly driven by equity funds, which have shown remarkable performance [1][4]. Group 2: Equity Fund Performance - As of September 2025, open-end funds have a total net asset value of 33.05 trillion yuan, while closed-end funds stand at 3.69 trillion yuan [2]. - Open-end funds account for approximately 90% of the total public fund scale, with various categories including stock funds, mixed funds, bond funds, money market funds, and QDII funds [2]. - Stock funds have seen a notable increase, with a growth of 4,042.17 billion yuan in September alone, alongside a rise in shares by 1,575.42 million [2][3]. Group 3: Institutional Enthusiasm - In September 2025, there were 149 new equity funds launched, representing over 80% of the total new public funds [3]. - QDII funds also performed well, with net subscriptions of 385.17 million shares and a growth of 1,133.04 billion yuan in scale [3]. - Conversely, fixed-income products like money market and bond funds experienced a decline in both scale and shares [3]. Group 4: Market Sentiment - The growth in public funds is closely linked to the positive performance of the equity market and improved market sentiment [5]. - Analysts suggest that the outlook for the stock market remains optimistic due to factors such as declining risk-free interest rates, maintained liquidity, and improved corporate earnings expectations [5].

Core Insights - The total scale of public funds in China has reached a historical high of 36.74 trillion yuan as of September 2025, marking a continuous increase for six months since April 2025 [1][4] - Equity funds have been a significant driving force behind the growth of public fund scales, with notable increases in stock and mixed funds [2][4] Group 1: Public Fund Scale - As of September 2025, there are 165 public fund management institutions in China, managing a total net asset value of 36.74 trillion yuan [1] - The public fund scale has consistently broken records, surpassing 33 trillion yuan, 34 trillion yuan, 35 trillion yuan, and finally 36 trillion yuan [1][4] - The growth trajectory of public funds has been marked by 12 record-breaking instances since 2024, with a significant increase from 29.3 trillion yuan in February 2024 to 36.74 trillion yuan by September 2025 [4] Group 2: Equity Fund Performance - Open-end funds account for approximately 90% of the total public fund scale, with a net asset value of 33.05 trillion yuan for open-end funds and 3.69 trillion yuan for closed-end funds as of September 2025 [2] - Stock funds saw a substantial increase of 4,042.17 billion yuan in September 2025, with a total of 106 new stock funds launched [3][4] - Mixed funds also experienced growth, with an increase of 1,515.45 billion yuan, although their share decreased [2][3] Group 3: Market Sentiment and Future Outlook - The growth in public fund scales is closely linked to the positive performance of the equity market and improved market sentiment [5] - Analysts suggest that the outlook for the stock market remains optimistic due to factors such as declining risk-free interest rates, maintained liquidity, and improved corporate earnings expectations [5]

Core Viewpoint - The Beijing Securities Regulatory Bureau, in collaboration with various local government departments, has introduced the "Implementation Opinions" to attract more long-term capital into the market, aiming to promote the healthy development of the capital market [1][3]. Group 1: Key Measures - The "Implementation Opinions" outlines four key measures: optimizing market ecology, developing equity funds, improving the investment environment for pension and insurance funds, and encouraging bank wealth management and trust funds to participate in the capital market [3][4]. - The first measure focuses on establishing a long-term performance evaluation mechanism for commercial insurance funds and enhancing the quality of listed companies in Beijing, encouraging eligible companies to repurchase shares [3][4]. - The second measure emphasizes the development of public equity funds and the stable growth of private equity funds, shifting fund companies' focus from scale to investor returns [3]. - The third measure aims to enhance the investment flexibility of enterprise annuities and personal pensions, supporting differentiated investment choices [3][4]. - The fourth measure encourages bank wealth management and trust funds to actively participate in the capital market by optimizing assessment mechanisms and improving market access [4]. Group 2: Progress and Achievements - As a result of previous policy initiatives, there has been significant progress in attracting long-term capital in Beijing, with 45 listed companies implementing share repurchases totaling 19.33 billion yuan and 285 companies distributing cash dividends amounting to 605.4 billion yuan [6]. - The public fund fee reform has led to the reduction of fees for 838 actively managed equity funds, saving investors approximately 10 billion yuan annually [6]. - By the end of September 2025, Beijing fund companies managed 1,090 equity funds with a total scale of 1.94 trillion yuan, reflecting year-on-year growth of 19.0% in number and 25.56% in scale [6]. - A long-term evaluation system has been established for public funds, with indicators set for occupational and enterprise annuities [6]. Group 3: Innovation in Financial Instruments - Beijing has achieved a significant milestone with the successful issuance of the first long-term technology innovation corporate bond on the Beijing Stock Exchange, amounting to 500 million yuan with a five-year term and an interest rate of 2.29% [8]. - The bond issuance is part of a project aimed at supporting strategic emerging industries such as integrated circuits, life sciences, artificial intelligence, new energy, and new materials, showcasing the commitment of long-term capital to hard technology sectors [8]. Group 4: Future Directions - The Beijing Securities Regulatory Bureau plans to strengthen policy coordination and information sharing with relevant departments to ensure the effective implementation of the "Implementation Opinions" and further solidify the market ecology for long-term investments [9].