【导读】本周 42 只新基金启动募集，权益类指数基金是 " 主力军 " ，占比超六成 中国基金报记者 张燕北 新基金发行市场依然维持一定热度。 本周（ 9 月 1 日 —9 月 5 日） 5 个交易日， 42 只新 基金将面向投资者公开发行。 32 只扎堆在周一发行 具体来看，本周 42 只新基金中 32 只扎堆在周一发行，占本周新基金的 76.19% ；周二、 周三、周四和周五分别有 1 只、 5 只、 2 只和 2 只基金开始认购。 从认购天数来看，本周新基金中，认购天数最长的是一只来自贝莱德中债投资优选绿色指数 的被动指数型债券基金，其认购天数为 61 天。在其之后，贝莱德中证 500 指数增强认购天 数为 22 天，光大国证机器人产业指数紧随其后，认购天数为 21 天。 整体来看， 42 只新基金平均认购天数为 14.5 天，较此前明显缩短。 创业板软件 ETF 、广发上证科创板 200 指数等，也有华夏上证科创板人工智能 ETF 联接、 华夏上证智选科创板价值 50 策略 ETF 联接等行业或策略主题产品。 本周新基金中还有 9 只债券型基金，包括 4 只混合二级债基， 3 只被动指数型债基， 1 ...

Core Insights - The personal pension fund catalog in China has expanded to 297 funds as of June 30, 2025, with 9 new funds added since the end of Q1 2023 [1] - The latest batch of funds includes 8 fund management companies, with a focus on pension FOF (fund of funds) products, offering differentiated investment options for various risk profiles [1][2] Group 1: Product Strategy - The pension target date FOFs adjust asset allocation based on the investor's life cycle, reducing equity exposure as the retirement date approaches while increasing fixed income allocation [2] - The pension target risk FOFs maintain a baseline equity allocation to match specific risk preferences of investors [2] Group 2: Market Dynamics - The expansion includes new entrants such as Caitong Asset Management and others, with a total of 5 fund managers introducing products to the personal pension fund catalog for the first time [2] - E Fund, ICBC Credit Suisse, and China Merchants Jinling have also added products, increasing their total personal pension fund offerings to 25, 13, and 4 respectively [3] Group 3: Overall Market Structure - FOF products dominate the personal pension fund landscape, with 212 out of 297 funds categorized as FOFs, including 83 target date funds and 129 target risk funds [3] - The number of sales institutions remains stable at 52, including 19 commercial banks, 25 securities companies, and 8 independent fund sales institutions, indicating a stable sales service system [3]

Core Viewpoint - The Chinese government is committed to promoting the healthy development of the capital market through a series of regulatory reforms and policies aimed at enhancing investor protection, stabilizing market confidence, and supporting technological innovation [3][4][5][8]. Regulatory Reforms and Investor Protection - The China Securities Regulatory Commission (CSRC) has implemented over 50 regulatory measures following the release of the new "National Nine Articles," focusing on enhancing the regulatory framework across all aspects of the capital market [3][4]. - In 2024, the CSRC handled 739 cases of various violations, with penalties exceeding 15.3 billion yuan, which is more than double the previous year [4]. - The CSRC has intensified efforts to protect small and medium investors, with significant progress in legal actions against financial fraud and violations [4][5]. Market Stabilization and Confidence Building - The CSRC has introduced a series of measures to stabilize the market, including optimizing information disclosure mechanisms and cracking down on illegal stock sales [5]. - The total market capitalization held by public funds increased from 5.1 trillion yuan at the beginning of 2024 to 6 trillion yuan, marking a 17.4% increase [5]. - The introduction of monetary policy tools to support the capital market has improved investor sentiment and market confidence [5][8]. Support for Technological Innovation - The CSRC has launched several initiatives to support technological innovation, including the "Sixteen Articles on Technology" and measures to enhance the investment value of listed companies [7][10]. - In 2024, the total dividends distributed by listed companies reached a record high of 2.4 trillion yuan, with over 300 companies distributing dividends before the Spring Festival [7]. - The proportion of high-tech companies among new listings on the Sci-Tech Innovation Board and other platforms has exceeded 90%, indicating a strong focus on supporting innovative enterprises [10][11]. Long-term Capital Inflow and Development - The CSRC has implemented policies to encourage long-term capital inflow into the market, with over 2.9 trillion yuan net purchases by insurance funds and various pension funds since September 2023 [15][16]. - The number of equity funds registered has significantly increased, with 459 new equity funds registered since September 2023, accounting for 70% of all registered funds during that period [16]. - The market value of long-term funds held in A-shares grew from 14.6 trillion yuan to 17.8 trillion yuan, reflecting a 22% increase [17].