Core Insights - In September, the A-share market experienced significant growth, surpassing 3,800 points, leading to a recovery in the new fund issuance market, with a total of 201 new public funds established, marking the highest monthly figures of the year [1][3] Fund Issuance Overview - The total issuance volume of new funds in September reached 1,673.39 billion units, representing a month-on-month increase of 93.26% and 64.02% respectively [1][3] - In the first three quarters of the year, new fund issuance exceeded 8,900 billion units, an increase of nearly 400 billion units compared to the same period last year, with 1,148 new funds launched, surpassing the total for the entire year of 2024 [3] Fund Types and Performance - In September, the majority of newly established funds were equity funds, with 104 new equity funds launched, a 22.35% increase from August [3] - Bond funds also saw significant growth, with 39 new bond funds established, a 62.5% increase from the previous month [3] - The issuance of equity funds accounted for 39.35% of the total issuance, with a volume of 658.44 billion units, reflecting a nearly 40% month-on-month increase [3] - Mixed funds and bond funds also showed strong performance, with mixed funds at 302.92 billion units (18.10% share) and bond funds at 659.59 billion units (nearly 40% share), both experiencing substantial month-on-month growth [3] Notable Fund Products - The top-performing funds in September were index funds, with notable issuances including BlackRock's China Bond Investment Preferred Green Index A and China Merchants Balanced Preferred A, with issuance sizes of 6 billion and 4.955 billion respectively [4] - The second batch of 14 science and technology bond ETFs was launched in mid to late September, with a total issuance scale of 407.86 billion, contributing to a total scale of over 2,300 billion for science and technology bond ETFs [4] Market Outlook - There were 48 funds that announced early closure in September, indicating increased market activity and investor confidence [5] - Industry insiders remain optimistic about the future of the fund issuance market, expecting continued recovery driven by favorable policies and market conditions [5] - Following the National Day holiday, around 100 new funds are set to compete in the market, with 30 currently in issuance and 70 more planned for October, predominantly in equity categories [5]

Core Viewpoint - In September, the A-share market experienced significant growth, leading to a recovery in the new fund issuance market, with the highest monthly figures recorded for the year [2][3]. Fund Issuance Overview - A total of 201 new public funds were established in September, with an issuance volume of 1,673.39 billion units, marking a month-on-month increase of 93.26% and 64.02% respectively [2]. - In the first three quarters of the year, new fund issuance exceeded 890 billion units, an increase of nearly 40 billion units compared to the same period last year [3]. Fund Types and Performance - The majority of new funds in September were equity funds, with 104 stock funds established, a 22.35% increase from August [3]. - Bond funds also saw significant growth, with 39 new funds established, a 62.5% increase from the previous month [3]. - Equity funds accounted for 39.35% of the total issuance, with 658.44 billion units issued, reflecting a nearly 40% month-on-month growth [3]. Notable Fund Products - The top-performing new funds in September were index funds, including the BlackRock China Bond Investment Preferred Green Index A and the China Merchants Balanced Preferred A, with issuance sizes of 6 billion and 4.955 billion respectively [4]. - A total of 14 new science and technology bond ETFs were launched in mid to late September, with a combined issuance scale of 407.86 billion, contributing to a total scale of over 2,300 billion for science and technology bond ETFs [4]. Market Outlook - Following the National Day holiday, 100 new funds are set to compete in the market, with 30 currently in issuance and 70 more expected to launch in October [5]. - The increase in the number of funds that announced early closure reflects heightened market activity and restored investor confidence [4].