Core Insights - The public fund issuance market has shown signs of recovery at the beginning of 2026, with a total of 76 new funds established, raising a total of 719.39 billion yuan, marking an average issuance size of approximately 9.47 million yuan, the second highest since January 2025 [1][7] - Equity funds and mixed FOFs have emerged as the main contributors to the fundraising efforts in January, with active management funds gaining significant popularity [1][7] Fund Performance and Trends - In January 2026, 13 funds exceeded 2 billion yuan in issuance, including 6 equity mixed funds and 3 mixed FOFs, indicating strong investor interest in these products [5][6] - The 富国智汇稳健 FOF raised 41.90 billion yuan in just three days, showcasing the rapid fundraising capabilities of certain funds [5] - The issuance of equity mixed funds has been particularly strong, with the 广发研究智选 mixed fund raising 72.21 billion yuan, one of the largest in the past year [6] Market Dynamics - The recovery in public fund issuance is attributed to multiple favorable factors, including market performance, policy support, and investor sentiment, particularly in the context of a structural market rally in A-shares [7] - The demand for "fixed income plus" products has surged, appealing to low-risk investors seeking a balance between returns and volatility [6][7] - Fund companies are increasingly focusing on technology and innovation sectors, aligning their offerings with diverse investor needs [7][9] Ongoing Fund Issuance - Currently, 94 funds are in the issuance process, with equity funds making up approximately 63% of the total, reflecting a shift towards equity products compared to previous years [9][10] - The ongoing issuance includes a variety of thematic funds targeting sectors such as cloud computing, renewable energy, and biotechnology, indicating a heightened risk appetite among investors [9][10]

Core Viewpoint - The public fund issuance market is experiencing a revival in early 2026, driven by multiple favorable factors including market conditions, policies, and investor demand, with a notable focus on equity and mixed FOF funds [1][9]. Fund Issuance Overview - As of January 25, 2026, a total of 76 new funds were established, with a combined issuance scale of 719.39 billion, averaging approximately 9.47 billion per fund, marking the second-highest average monthly issuance since January 2025 [2][8]. - The main contributors to the issuance in January are equity funds and mixed FOFs, with equity funds accounting for 60% of the total issuance scale [8]. Popular Fund Types - Active management funds are particularly popular, with 13 funds exceeding 20 billion in issuance, including 6 equity mixed funds and 3 mixed FOFs [1][4]. - The 富国智汇稳健 FOF raised 41.90 billion in just three days, highlighting strong investor interest in mixed FOF products [3][4]. Market Dynamics - The revival in fund issuance is attributed to a combination of structural market trends, regulatory support, and a low-interest-rate environment, which has led to increased allocation of long-term funds into equity assets [9]. - Fund companies are focusing on technology and innovation sectors, aligning their offerings with diverse investor needs [9]. Ongoing Fund Issuance - Currently, 94 funds are in the issuance process, with equity funds making up approximately 63% of the total, indicating a shift towards equity products compared to previous years [11]. - The ongoing issuance includes a variety of thematic funds covering sectors such as cloud computing, renewable energy, and artificial intelligence [11][12]. Investment Strategies - Fund companies are adopting a diversified asset allocation strategy, potentially increasing exposure to cyclical and dividend assets [13].