Group 1 - A total of 6 new funds were launched in just 3 trading days from April 28 to April 30, with 3 being passive index funds [2] - The largest fund launched last week was a medium to long-term pure bond fund with a first fundraising scale of nearly 6 billion yuan [5] - Public REITs have gained significant attention, with the Hua Tai Suzhou Heng Tai Rental Housing REIT seeing a record high in offline subscription [7] Group 2 - The new funds include the Dongfanghong Yufeng Return A, Zhonghai Technology Innovation A, and Huabao Zhongzheng Information Technology Application Innovation Industry (300832) Link A, all launched on April 28 [2] - The Dongfanghong Yufeng Return A is a mixed bond secondary fund managed by Ji Wenjing, who has nearly 18 years of experience in the securities industry [2][3] - The Zhonghai Technology Innovation fund focuses on the "technology innovation" sector, particularly in artificial intelligence and new generation information technology [3] Group 3 - The Huabao Zhongzheng Information Technology Application Innovation Industry Link A targets the Xinchuang ETF, covering key areas of the Xinchuang industry chain [3] - The Xinchuang Index has shown a cumulative return of 41.85% since its base date, with an annualized return of 5.10% as of March 31 [3] - The BlackRock Anze 60-Day Holding A fund is set to be issued on April 30, managed by Liu Xin, the Chief Fixed Income Investment Officer at BlackRock [4] Group 4 - The previous week saw 28 new funds established, with the largest being the Pu Yin An Sheng Pu Hang 3-Month Fixed Open Fund, which raised 5.999 billion yuan [5][8] - The second largest was the mixed bond primary fund Zhongou Stable Navigation 90-Day Holding A, which raised over 3 billion yuan [6] - The market is increasingly focused on high dividend and stable public REITs amid an "asset shortage" [7]

Core Insights - The recent fundraising activities in the mutual fund market indicate a strong preference for fixed-income products, with the top fund,浦银安盛普航3个月定开债基, raising nearly 6 billion units, making it the "king of issuance" for April [1] - The overall fundraising for newly established funds reached 24.58 billion units, with passive index funds accounting for nearly half, while actively managed equity products faced challenges with less than 1 billion units raised [1][3] - The market is experiencing structural differentiation, with a significant shift in investor risk appetite towards fixed-income products amid increased volatility in the equity market [1][3] Fundraising Trends - The average issuance of new funds last week was 8.78 billion units, with浦银安盛普航3个月定开 leading at 59.99 billion units, followed by中欧稳航90天持有A at 31.80 billion units and招商稳健策略优选3个月持有A at 29.71 billion units [1] - Over 90% of the newly issued products had a 3-month lock-up period, catering to investors' liquidity needs while providing fund managers with a stable period for building positions [2] - The successful issuance of华泰苏州恒泰租赁住房REIT at 5 billion units highlights the ongoing expansion of the public REITs market in the affordable rental housing sector [3] Market Behavior and Outlook - The issuance of mid-to-long-term pure bond funds reached 73.59 billion units, reflecting a risk-averse sentiment among investors, while passive index funds totaled 65.77 billion units, indicating a preference for low-cost, diversified investment tools [3] - Fund companies are actively preparing for the second quarter market, with expectations that a potential recovery in equity market sentiment could drive both passive index and active management strategies [3] - The continued development of innovative products like REITs and FOFs is expected to inject differentiated momentum into the new issuance market [3]