Core Viewpoint - Despite a market recovery, February's fund issuance remains pessimistic, with significant declines in both the number and volume of new funds issued [1][2]. Group 1: Fund Issuance Data - In February, a total of 58 new funds were established, a decrease of approximately 60% compared to January's 148 funds [1]. - The total issuance volume for February was 29.415 billion units, a dramatic drop of 75% from January's 118.82 billion units [1]. - The average issuance volume per fund fell from 80.3 million units in January to 50.7 million units in February, marking the lowest level in the past 12 months [1]. Group 2: Fund Structure and Types - The issuance volume distribution for February was as follows: equity funds at 11.79%, mixed funds at 57.29%, and bond funds at 26.21% [1]. - The average issuance volume for bond funds was slightly higher than in January at 110.1 million units, while equity and mixed funds continued to decline, averaging 26.7 million units and 48.1 million units, respectively [1]. Group 3: Investor Preferences and Fund Failures - There is a noticeable increase in investor interest in more stable bond products, with only 4 funds exceeding 1 billion units in issuance, primarily bond funds [2]. - The top fund in February was the ICBC Credit Suisse One-Year Open Pure Bond Fund, with an issuance volume of 4.01 billion units [2]. - Five funds have announced failed issuances this year, including two equity ETFs, two bond funds, and one mixed fund [2].