Group 1 - The personal pension Y-share funds have expanded, with five new products added in July, bringing the total number of Y-share funds to 301 [1] - As of the end of Q2, the existing 296 personal pension Y-share funds had a combined scale of 12.409 billion, with 29 funds exceeding 100 million, and the largest fund, Xingquan Antai Fund, reaching 1.032 billion [3] - The total scale of index funds Y-share reached 1.576 billion by the end of Q2, showing a growth of 32.82% from the previous quarter [3][4] Group 2 - In Q2, 269 personal pension Y-share funds experienced net subscriptions, with 16 funds exceeding 10 million in net subscriptions, indicating strong investor interest [4] - The performance of Y-share funds improved significantly, with 289 funds achieving positive returns in Q2, and 21 funds exceeding a 4% return, led by Chuangjin Hexin's 6.31% return [4] - The fee structure of Y-share funds, which offers a 50% discount on management fees and no sales service fees, has attracted more investors [4]

Core Insights - The personal pension Y-share funds have expanded significantly, with a total of 301 funds now included in the list as of July, following the addition of five new products [1] - As of the end of Q2, the existing 296 personal pension Y-share funds had a combined scale of 12.409 billion yuan, with 29 funds exceeding 1 billion yuan in size [1] - The top fund, Xingquan Antai Fund's five-year Y-share, has a scale of 1.032 billion yuan, making it the only fund over 1 billion yuan [1][4] Fund Performance and Investor Activity - In Q2, 289 Y-share funds achieved positive returns, with 21 funds exceeding a 4% return rate, led by the fund "Chuangjin Hexin Dividend Low Volatility Y" at 6.31% [6] - Investor interest in Y-share funds has increased due to improved performance, favorable fee structures, and tax benefits associated with these products [5][9] - Notably, 269 Y-share funds saw net subscriptions in Q2, with three funds achieving net subscriptions exceeding 10 million shares [1][4] Fund Characteristics and Selection - The Y-share funds offer a management fee discount of 50% compared to A/C shares and do not charge a sales service fee, making them attractive to investors [9] - The recent performance of Y-share funds has led to increased inquiries from potential investors, particularly in comparison to traditional insurance products [9] - Investors are advised to consider their own investment capabilities when choosing between Y-share funds and other pension products, with Y-share funds being suitable for those with some investment knowledge [12][13]