Group 1 - The fund is named "Fullgoal Balanced Investment Deep Combination Securities Investment Fund" and is classified as a domestic new investment mixed fund [1] - The fund management is handled by Fullgoal Fund Management Co., Ltd., and the custodian is China Everbright Bank Co., Ltd. [1] - The fund contract is effective from June 4, 2025, and the fund's code is 024188 [1] Group 2 - The total amount of fund shares subscribed by senior management and heads of investment and research departments is over 1 million shares [2] - The fund manager has also subscribed for over 1 million shares of the fund [2] Group 3 - From the effective date of the fund contract, the fund manager will officially manage the fund, and investors can check transaction confirmation through sales institutions or the fund manager's website [3] - The fund management can decide the specific date for starting subscription based on actual conditions, and the redemption process will begin within three months after the fund contract takes effect [3]

Core Viewpoint - Recent announcements of self-purchases by multiple public funds demonstrate confidence in the market through substantial financial commitments [1][2][6]. Group 1: Self-Purchase Activities - Several public funds have actively engaged in self-purchase activities, with notable examples including Bosera Fund investing 10 million yuan in its equity funds and Harvest Fund contributing over 50 million yuan to its ETF [3][4]. - Other funds such as Xinhua Fund and Anxin Fund have also made significant self-purchases, indicating a strong belief in the capital market [3][4]. Group 2: Support for New Products - The self-purchases are primarily directed towards newly launched products, reflecting confidence in their future performance and the fund companies' research capabilities [2][5]. - New funds have become a key focus for public fund self-purchases, with a significant proportion of self-purchase activities in the first quarter of this year directed towards newly issued funds, particularly index funds [5][7]. Group 3: Long-term Commitment - Public fund self-purchases are seen as a manifestation of long-term investment philosophy, with companies using their own capital to support their products, thereby reinforcing the alignment of interests between fund managers and investors [6][7]. - This behavior not only enhances liquidity and stability of the funds but also serves as a signal to the market, encouraging investors to hold quality assets for the long term [5][7].

Core Viewpoint - The recent surge in public fund self-purchases reflects confidence in the Chinese capital market and aims to stabilize market sentiment amid increased volatility [1][5]. Group 1: Public Fund Self-Purchases - Multiple public funds have announced self-purchases, with significant amounts directed towards newly launched products, indicating confidence in their future performance [1][2]. - On May 28, Bosera Fund announced a self-purchase of 10 million yuan in its equity funds, demonstrating a commitment to the long-term health of the capital market [2]. - Other funds, such as Harvest Fund and Orient Securities Asset Management, have also made substantial self-purchases, reinforcing their belief in the market's potential [2][3]. Group 2: Support for New Products - New funds have become a key focus for public fund self-purchases, with a notable share of self-purchases in the first quarter of this year directed towards newly launched funds [4]. - The self-purchase actions serve as a vote of confidence in the investment value of these products and aim to guide investor expectations [4]. - Public funds' self-purchases can provide essential capital support during the initial phase of new products, enhancing operational efficiency [4]. Group 3: Long-term Commitment - Data from the first quarter shows that several public funds, including China Europe Fund and Yongying Fund, have made significant self-purchases, totaling around 60 million yuan for China Europe Fund alone [5]. - Self-purchases are seen as a reflection of a fund company's overall strength and long-term values, showcasing confidence in their research capabilities and risk management [5]. - This practice not only strengthens the alignment of interests between fund managers and investors but also helps improve liquidity and stability of fund operations [5].

Core Viewpoint - Multiple ETFs related to the digital economy of state-owned enterprises have received significant subscriptions from "national team" investors, indicating strong confidence in the capital market. Group 1: ETF Subscriptions - Beijing Chengtong Investment Co., Ltd. (Chengtong Jinkong) subscribed a total of 600 million RMB to three ETFs, becoming the largest shareholder in each [1][2] - Chengtong Jinkong is a wholly-owned subsidiary of China Chengtong Holdings Group, a state-owned enterprise under the supervision of the State-owned Assets Supervision and Administration Commission (SASAC) [2][3] - The three ETFs are designed to track the China Chengtong State-Owned Enterprises Digital Economy Index, which includes 50 listed companies involved in sectors such as electronics, semiconductors, and cloud computing [3] Group 2: Market Confidence - The active participation of various public funds, including over 50 million RMB from Harvest Fund in the same ETF, reflects a positive outlook on the development of leading state-owned enterprises in the digital economy [5] - Other public funds, such as Dongfanghong Asset Management and Xinhua Fund, have also shown strong interest in investing in their own products, further demonstrating confidence in the capital market [6] Group 3: Fund Management Trends - The recent registration of 26 new floating-rate funds by the China Securities Regulatory Commission is expected to bring additional capital into the A-share market [6] - Several fund companies, including GF Fund and Huatai-PineBridge Fund, have reported significant sales of their new floating-rate funds, indicating a growing trend in the market [6]

Core Viewpoint - The article discusses the trend of public funds in China engaging in self-purchase of their equity products during market downturns, highlighting the potential benefits for investor confidence and market recovery [1][2][4]. Group 1: Self-Purchase Behavior - Multiple public funds, including Jianxin Fund and Fangzheng Fubang Fund, announced self-purchases of their equity products as the Shanghai and Shenzhen indices reached low points in April [1]. - Self-purchase actions are believed to boost investor confidence and prevent panic selling during volatile market conditions [2][5]. - A significant number of public funds have accelerated their self-purchase activities following market declines, with total self-purchase amounts nearing 500 million yuan after a sharp market drop on April 7 [4]. Group 2: Specific Fund Actions - On May 16, Xinhua Fund announced a self-purchase of 10 million yuan in its Xinhua Active Value A shares, with previous purchases totaling approximately 10.52 million yuan in April [4]. - Jianxin Fund revealed plans to invest at least 180 million yuan in its equity public products, indicating a total self-purchase scale of no less than 353 million yuan [4]. - Other funds, such as Fuguo Fund and Huaxia Fund, also committed significant amounts to self-purchases, demonstrating a collective trend among fund managers to invest in their products [5]. Group 3: Market Dynamics and Fund Types - Despite the focus on equity fund self-purchases, the majority of self-purchases are still concentrated in fixed-income products like money market and bond funds [7]. - Data shows that 114 public fund companies announced a total of 2,747 self-purchase actions this year, with net purchases in money market funds accounting for approximately 96% of the total, amounting to 103.6 billion yuan [8]. - The preference for money market funds reflects a strategy to balance risk exposure amid increased market volatility, aligning with regulatory expectations for market stability [8]. Group 4: Reasons for Self-Purchase - Industry insiders identify three main reasons for fund companies to engage in self-purchases: to demonstrate alignment with investor interests during fund launches, to prevent fund liquidation, and to capitalize on perceived market entry points [9]. - For instance, Xinhua Fund's self-purchase actions were aimed at stabilizing a fund that was at risk of falling below the liquidation threshold [9]. - Fund companies are increasingly focusing on long-term development rather than short-term performance, which enhances the stability and sustainability of fund returns [8][9].

Group 1 - Public funds have been actively purchasing their own products, indicating confidence in the long-term stability of the Chinese capital market [1][3] - Anxin Fund announced a minimum investment of 20 million yuan, with fund managers contributing at least 5 million yuan, totaling a minimum of 25 million yuan for the Anxin Preferred Value Mixed Securities Investment Fund [1] - Fuguo Fund also declared a similar investment strategy, committing at least 20 million yuan from the company and 5 million yuan from fund managers, totaling a minimum of 25 million yuan for the Fuguo Balanced Investment Mixed Securities Investment Fund [3] Group 2 - As of May 7, a total of 103 public fund institutions have made 533 self-purchases, with a net subscription amount reaching 8.32 billion yuan [3] - Money market funds have been the most popular choice for public institutions, with 136 self-purchases and a net subscription amount of 4.895 billion yuan, accounting for 58.83% of the total self-purchase amount [3] - Bond funds followed closely, with 99 self-purchases and a net subscription amount of 1.206 billion yuan, representing 14.49% of the total [3] - Equity and mixed funds have similar self-purchase amounts, with 114 and 149 self-purchases respectively, and net subscription amounts of 905 million yuan and 822 million yuan, accounting for 10.87% and 9.88% of the total [3] - Other fund types, including FOF, QDII, and alternative investment funds, also saw self-purchases with net subscription amounts of 415 million yuan, 50 million yuan, and 2.7 million yuan respectively [3]

Core Viewpoint - The recent self-purchase actions by public fund companies, such as 富国基金 and 摩根基金, reflect confidence in their investment management capabilities and serve as a positive signal to investors [2][9]. Group 1: 富国基金's Self-Purchase - On May 6, 富国基金 announced a self-purchase of at least 25 million yuan for its 富国均衡投资混合型证券投资基金, with the company and senior management contributing at least 20 million yuan and the proposed fund manager contributing at least 5 million yuan [3][4]. - The proposed fund manager, 范妍, has a strong background in investment analysis and has achieved a return of 1.40% since October 2022, with a net value increase of 2.71% this year [4]. - The fund's scale increased from 520 million yuan at the end of Q3 2022 to 7.461 billion yuan at the end of Q1 2023, representing a growth of over 13 times [4]. Group 2: 摩根基金's Self-Purchase - On April 30, 摩根基金 announced a self-purchase of at least 54 million yuan for its new equity public fund, with 30 million yuan allocated to the 摩根中证A500增强策略ETF [5]. - The 摩根中证A500增强策略ETF is designed to enhance returns through a quantitative multi-factor model and aims to meet the dual needs of flexible trading and return enhancement for investors [5]. - The total scale of passive index and enhanced index funds linked to the 中证A500 index reached 256.3 billion yuan by March 31, 2025, indicating its growing significance in the A-share market [6]. Group 3: Overall Market Self-Purchase Trends - As of May 6, 114 fund companies have collectively self-purchased over 108 billion yuan in their funds this year, with money market funds accounting for the majority at approximately 103.79 billion yuan [8]. - In April alone, several fund companies, including 安信 and 博时, engaged in self-purchases totaling 4.94 billion yuan, demonstrating a widespread trend among fund managers to invest in their own products [8]. - The self-purchase behavior of public funds not only stabilizes market confidence but also conveys a message of shared risk and reward between fund managers and investors [9].

Core Viewpoint - The recent self-purchase actions by public fund companies, such as FuGuo Fund and Morgan Fund, reflect confidence in their investment management capabilities and serve as a positive signal to investors [2][3][5]. Group 1: FuGuo Fund's Self-Purchase - FuGuo Fund announced a self-purchase of at least 25 million yuan for its balanced investment mixed securities fund, with contributions from the company and its senior management [3][4]. - The fund manager, Fan Yan, has a strong track record, with a return of 1.40% since October 2022 and a net asset value increase of 2.71% this year [4]. - The fund's scale increased significantly from 520 million yuan at the end of Q3 last year to 7.461 billion yuan at the end of Q1 this year, representing a growth of over 13 times [4]. Group 2: Morgan Fund's Self-Purchase - Morgan Fund plans to invest at least 54 million yuan in its newly launched equity public fund, with 30 million yuan allocated to the Morgan CSI A500 Enhanced Strategy ETF [5][6]. - The CSI A500 Enhanced Strategy ETF is designed to leverage a quantitative multi-factor model to select stocks, aiming for higher returns and better trading flexibility for investors [5]. - The total market size of passive index and enhanced index funds linked to the CSI A500 index reached 256.3 billion yuan as of March 31, 2025, indicating its growing importance in the A-share market [6]. Group 3: Overall Market Self-Purchase Trends - As of May 6, 2023, 114 fund companies have collectively purchased over 108 billion yuan in their own funds this year, surpassing the 100 billion yuan mark [7]. - The majority of self-purchases were in money market funds, totaling approximately 103.79 billion yuan, while equity funds saw self-purchases of 9.27 million yuan [8]. - The self-purchase actions by various fund companies, including Anxin and CCB Fund, demonstrate a commitment to market stability and a shared risk-reward approach with investors [8].

Core Viewpoint - The article highlights the increasing trend of fund companies in China engaging in self-purchase activities, reflecting confidence in the capital market and aiming to stabilize market expectations during fluctuations [1][3]. Group 1: Fund Company Self-Purchase Activities - On May 6, 2023, China’s Fortune Fund announced a self-purchase of at least 25 million yuan, with the fund manager contributing a minimum of 5 million yuan, indicating strong confidence in the market [1]. - As of May 6, 2023, a total of 103 fund companies have conducted 533 self-purchases this year, with a net subscription amounting to 8.32 billion yuan [1][2]. Group 2: Product Type Distribution - Money market funds are the most favored by fund companies for self-purchase, with a net subscription amount of 4.895 billion yuan, accounting for 58.83% of the total self-purchase amount [2]. - Among equity products, stock funds and mixed funds received net subscriptions of 905 million yuan and 822 million yuan, respectively, together exceeding 20% of the total self-purchase [2]. Group 3: Market Implications and Effects - Self-purchase actions by fund companies are seen as a positive signal for market stabilization and investor confidence, especially during market volatility [3]. - The regulatory environment encourages fund companies to allocate a portion of their annual profits to self-purchase, promoting the normalization of this behavior [3]. - Self-purchases help alleviate fundraising pressures for newly issued funds and stabilize existing fund sizes, while also aligning the interests of fund managers with those of investors [3].

Group 1 - The core viewpoint of the news is that fund companies, including WFC Fund, are showing confidence in the Chinese capital market by investing their own funds into their funds, indicating a belief in the current market valuation levels being relatively reasonable [1][2] - WFC Fund announced that it and its senior management will invest no less than 20 million yuan, while the proposed fund managers will invest no less than 5 million yuan, totaling at least 25 million yuan for the subscription of the WFC Balanced Investment Mixed Securities Investment Fund [1] - As of May 6, 2023, a total of 103 public fund institutions have made 533 self-purchases this year, with a net subscription amount of 8.32 billion yuan [1] Group 2 - Money market funds have become the main focus of self-purchases, with 136 self-purchases and a net subscription amount of 4.895 billion yuan, accounting for 58.83% of the total self-purchase amount [1] - Bond funds followed, with 99 self-purchases and a net subscription amount of 1.206 billion yuan, making up 14.49% of the total [1] - Equity and mixed funds have similar self-purchase amounts, with 114 and 149 self-purchases respectively, and net subscription amounts of 905 million yuan and 822 million yuan, accounting for 10.87% and 9.88% of the total [1][2] Group 3 - Other fund types such as FOF, QDII, and alternative investment funds have also seen self-purchases this year, with net subscription amounts of 415 million yuan, 50 million yuan, and 27 million yuan respectively [2] - Industry experts suggest that the self-purchases by public fund institutions indicate a positive outlook for the market, particularly in the context of structural opportunities expected in May [2] - The recommendation for May includes focusing on technology sectors, driven by emerging industries, policy changes, improved risk appetite, and expectations of liquidity easing [2]