今年以来，公募FOF的发行热度一直在缓步提升。Choice数据显示，以基金成立日为口径，截至8月5 日，公募FOF今年以来合计发行了36只产品，合计发行份额为330.4亿份，较2024年115.98亿份、2023年 234.24亿份实现显著增长，平均发行份额为近10.01亿份，为过去三年最高水平。公募FOF发行份额占基 金总发行份额比重为5.33%，为2017年该类产品问世以来新高。 业绩是公募FOF受投资者追捧的主要原因之一。同源数据显示，截至8月4日，全市场公募FOF今年以来 的平均回报为6.21%，近一年平均单位净值增幅为13.58%。其中，国泰优选领航一年持有期混合FOF、 工银睿智进取FOF、工银养老2050FOF、渤海汇金优选进取6个月持有混合发起FOF、国泰行业轮动股 票FOF及交银智选星光FOF今年以来的净值增幅均在20%以上。拉长时间线来看，有12只产品近一年回 报超过30%，近八成公募FOF净值已经修复到1元以上。 资产配置需求提升 在业内人士看来，除了业绩回暖以外，在利率下行和理财净值化的大趋势下，稳健投资的需求正稳步增 长，或助推以资产配置为特色的公募FOF类产品步入较好的发展阶段。 ...

8月5日，摩根基金管理（中国）有限公司发布公告，宣布旗下摩根盈元稳健三个月持有期混合型FOF提 前结束募集。 二是产品优势逐步显现。 FOF基金凭借其多资产配置能力，能够灵活布局港股、黄金等非A股资产及各 类ETF产品，在分散风险的同时增厚收益，有效满足投资者多元化资产配置需求。 三是政策支持力度加大。 个人养老金基金名录持续扩容，为FOF市场带来长期稳定的资金流入，进一 步激活了市场活力。 其中，有6只产品发行规模均突破20亿元，东方红盈丰稳健配置6个月持有、富国盈和臻选3个月持有首 发规模均超60亿元，成为年内成立的FOF爆款。南方稳见3个月持有首发规模也在30亿元以上，另有7只 FOF首发规模超10亿元。 此外，今年以来新发FOF基金数量高达36只，已超过2024年全年的新发数量。 排排网集团旗下融智投资FOF基金经理李春瑜认为，今年以来公募FOF基金发行呈现持续回暖态势，主 要受以下因素推动： 一是市场环境持续优化。 政策面持续发力，推动权益市场估值修复，A股市场企稳向好，为FOF这 类"专业买手"提供了更广阔的投资运作空间。 公告显示，8月4日当日的有效认购申请将全部予以确认。据悉，该基金募集规模近 ...

【导读】摩根盈元稳健三个月持有期混合型FOF一日售罄 中国基金报记者 方丽 基金发行频传捷报！ 刚刚，摩根基金发布公告称，旗下摩根盈元稳健三个月持有期混合型FOF宣布提前结束募集， 一日售罄。 业内人士表示，伴随着权益市场回暖，FOF受到投资者关注，加之托管行——"零售之王"招 商银行拥有较强的销售能力，多重因素叠加，该基金发行成绩不俗。本次发行中，摩根基金 携手招行主动限制首发规模，致力于保护投资者利益。 又见"一日售罄" 8月4日，摩根基金发布公告显示，摩根盈元稳健三个月持有期混合型FOF宣布提前结束募 集。 公告显示，摩根盈元稳健三个月持有期混合型FOF于2025年8月4日开始募集，为保护投资者 利益，根据有关规定以及本基金的实际募集情况，本基金的募集截止日由原定8月22日提前至 8月4日，即8月4日为本基金的最后一个募集日，当日的有效认购申请将全部予以确认。 据悉，摩根盈元稳健三个月持有期混合型FOF采用多元配置"固收+"策略，以求稳为先，精选 优质债券基金打底，以追求长期稳健的收益为首要目标，同时也会积极捕捉海内外市场多元 资产的投资机会，力争获得长期稳健回报。 该基金投资于权益类资产合计占基金资产 ...

在国内利率下行的背景下，通过全球资产配置分散风险、增加多元收益来源，正得到越来越多投资者的 认可。 8月4日起，定位于多元资产配置的摩根盈元稳健三个月持有期混合型FOF正式发行，该基金将由摩根资 产管理中国资产配置及退休金管理首席投资官恩学海与基金经理吴春杰共同管理，其中，恩学海有着近 30年投研经验，曾领导富达401K投资计划产品及策略，过往管理富达全球多元资产等基金规模超1500 亿元人民币。 恩学海在接受证券时报记者采访时表示，当单一资产难以满足稳健收益的需求，通过FOF工具实现多元 配置可能是破局关键，摩根资产管理中国希望通过"债券打底+海外多元资产增厚"策略，探索中国市场 的"固收+"新解法。 让投资者正确认识风险偏好 在对各类资产的收益预期和相关性表现进行测算后，恩学海发现，"债券打底+海外多元资产增厚"的组 合比单一市场"股债搭配"相关性更低，可有效降低组合整体波动。摩根盈元稳健三个月持有期混合型 FOF在精选底层债券基金的基础上，可以通过QDII基金、香港互认基金布局海外权益、ETF、商品等资 产，力争增厚投资收益。 定量为主 层层筛选 如果说多元资产配置是分散风险的第一层，那么，通过优选基金 ...

Core Viewpoint - The asset management industry is undergoing significant changes in 2025, with a focus on holder experience and returns, driven by three long-term trends [1][3]. Group 1: Long-term Trends - The first trend is the decline in bond yields, with the 10-year government bond yield dropping to 1.74% [2]. - The second trend highlights the increasing volatility in equity markets, leading investors to realize that single assets cannot navigate macroeconomic cycles [2]. - The third trend emphasizes that investor returns have become a crucial indicator in the era of inclusive finance, with high volatility impacting returns, necessitating strategies to reduce single asset volatility [3]. Group 2: Shift in Investor Demand - There is a shift in investor demand from single asset return orientation to all-weather product solutions that provide returns while navigating macroeconomic volatility and reducing risk [3]. - The rise of multi-asset allocation is evident, as seen in Japan's increase in overseas asset allocation from 5% to 15% between 1990 and 2020 [3]. Group 3: Multi-Asset Investment Capabilities - Asset management institutions are required to enhance their investment capabilities across multiple asset classes and excel in global asset allocation [4]. - Morgan Asset Management is highlighted as a leading institution with significant multi-asset and multi-national investment capabilities [5]. Group 4: Importance of Diversification - The article discusses the limitations of traditional stock-bond allocation, noting that correlations can change, and both asset classes may perform poorly in certain macroeconomic conditions [8]. - A well-diversified portfolio should include low-correlation assets such as domestic and overseas bonds, gold, and equities to improve risk-return profiles [8][10]. Group 5: Morgan Asset Management's Offerings - Morgan Asset Management's multi-asset products, such as the Morgan Dual Season Bond FOF, have shown strong performance with a return of 3.72% since inception and a maximum drawdown of only -1.71% [10]. - The upcoming Morgan Yingyuan Stable Three-Month Holding Mixed FOF aims to provide a diversified investment solution focusing on stable returns and reduced volatility [12]. Group 6: Global Investment Team - Morgan Asset Management has a robust global investment team with over 600 investment strategies and more than 1,000 investment experts across 160 markets [23]. - The team emphasizes systematic and structured investment approaches, aiming for long-term sustainable results rather than short-term successes [27]. Group 7: Growth of FOF Products - The growth of FOF products indicates a rising awareness of the importance of multi-asset allocation, with a reported increase of 35.6 billion in FOF product scale in the first half of the year [29][31].

Group 1 - The core viewpoint of the news is that in a volatile equity market and low interest rate environment, investors are increasingly turning to multi-asset diversified allocations to seek stable returns [1] - Morgan Asset Management is set to launch the Morgan Yingyuan Stable Three-Month Holding Period Mixed FOF on August 4, with subscriptions available through various channels including China Merchants Bank and Morgan Asset Management's official direct sales platform [1] - The new fund aims for long-term stable returns by investing at least 80% of its assets in public funds, with a maximum of 30% in equity assets, while also allowing flexible allocation to public REITs, commodity funds, ODII funds, and Hong Kong mutual recognition funds [1] Group 2 - En Xuehai, Chief Investment Officer of Asset Allocation and Pension Management at Morgan Asset Management, noted that global risk appetite is improving due to ongoing loose monetary and fiscal policies, with expectations of rising inflation in the U.S. in the third quarter [2] - The domestic market is stabilizing, and while asset valuations in China have returned to historical averages, they still present attractive opportunities [2]