Core Insights - The public fund issuance market is experiencing a vibrant atmosphere, with a high number of new funds being launched and a notable rise in "daylight funds" that sell out within a single day, indicating strong investor demand [1] Market Trends - As of October 25, 2025, a total of 88 funds sold out on their first day of issuance, reflecting a significant enthusiasm for public fund products [1] - The frequent emergence of "daylight funds" is attributed to the stabilization and improvement of the macroeconomic environment in 2025, along with the A-share market reaching new highs, which has led to an increase in investor risk appetite [1] Product Innovation - Fund companies are launching products that better align with market demands, such as technology innovation bond ETFs and REITs, providing investors with diverse allocation tools [1] - The data indicates that passive index products constitute a high proportion of new funds this year, highlighting the deepening trend of index-based investment [1] Future Outlook - Industry experts anticipate that the active trend in the public fund issuance market is likely to continue, with "daylight funds" potentially becoming a regular occurrence as the market continues to recover [1]

值得一提的是，今年认购天数仅为1天的"日光基"数量显著增多，并且募集规模非常可观，被动指数型 债券基金是绝对主力。特别是追踪上证AAA科创债、中证AAA科技创新公司债等指数的ETF产品，几 乎呈现全面开花之势，多家基金公司旗下同类产品均一日售罄，且发行规模大多集中在30亿元左右，显 示出投资者对高信用等级科创主题债券资产的旺盛需求，以及对利率环境及稳健收益的明确偏好。例 如，富国中证AAA科技创新公司债ETF发行规模为30亿元、兴业中证AAA科技创新公司债ETF发行规模 为近30亿元等，均仅用1天时间完成发行。 市场分析人士指出，"日光基"频现主要受益于2025年宏观经济企稳向好以及A股市场持续创出新高，投 资者风险偏好明显提升。同时，基金公司推出的产品更加精准契合市场需求，如科技创新债ETF、 REITs等创新品种，为投资者提供了多元配置工具。数据显示，今年新发基金中，被动指数型产品占比 居高，反映了指数化投资趋势的深化。业内预计，未来公募基金新发市场活跃态势有望延续，随着市场 持续回暖，"日光基"或将成为常态。 今年公募基金新发市场呈现出一派火热景象，新发基金不仅在数量上保持高位，更引人注目的是，认购 天 ...