8月以来，权益类基金发行延续火热。公募排排网数据显示，截至8月25日，8月以来，全市场共有157只 新基开启募集，较7月的149只相比，环比增幅5.37%，创出年内单月发行新高。其中，权益基金已启动 募集的共计125只，占比高达79.62%。 业内人士认为，随着权益类基金净值持续回升，投资者对公募基金的认可度明显提升，通过基金参与资 本市场投资的意愿也在增强。同时，基金管理机构也积极把握市场机遇，加大权益类产品供给力度，进 一步助推了公募产品发行数量的增长。 ...

22 August 2025 | 10:21PM BST EM Weekly Fund Flows Monitor Strong FII outflows led by Taiwan; HFs net bought Chinese equities at the fastest pace in 7 weeks; EM funds post +2%/+18% in Mtd/Ytd Foreign (FII) flows / positioning n EM Asia ex-China markets saw strong FII selling of US$4.8bn w/w, led by Taiwan (-US$4.1bn) and Korea (-US$0.8bn). India and Indonesia both saw FII inflows of US$0.1bn respectively. Non-Asia EMs saw selling of US$290mn wow, led by South Africa (-US$270mn). HK/China Connect, Domestic re ...

存款利率走低但投资市场走热，沪指突破10年新高，公募基金规模也持续刷新历史新高。根据中国基金 业协会官网，公募基金最新规模突破34万亿元，上半年，开放式基金规模增长了1.6万亿，并且近7成由 债券基金、货币基金的规模增长所贡献，另外权益基金也增长2772亿。 ...

Core Insights - Federated Hermes reported Q2 2025 earnings with GAAP EPS of $1.16, exceeding analyst expectations of $1.03 and significantly up from $0.20 in the prior year [1][2] - Total revenue for the quarter was $424.8 million, slightly above the estimate of $422.81 million and an increase from $402.6 million year-over-year [1][2] - The firm achieved record-high assets under management (AUM) of $845.7 billion as of June 30, 2025, marking an 8% increase from $782.7 billion in the previous year [1][2][5] Financial Performance - Net income for Q2 2025 reached $91.0 million, a 333.3% increase from $21.0 million in Q2 2024 [2][8] - Operating expenses decreased by 15% year-over-year, primarily due to the absence of a non-cash impairment charge from the previous year [7] - Nonoperating income rose from $1.9 million to $13.7 million, contributing positively to overall financial performance [7] Business Overview - Federated Hermes is an investment management firm with a diverse range of products, including money market funds, equity funds, fixed-income products, and alternative strategies [3] - The firm generates revenue mainly through fees based on AUM, with a strong emphasis on money market products [3] Strategic Focus - The company is focused on growing AUM, complying with regulations, and leveraging its distribution network [4] - Key success factors include investment performance, regulatory discipline, and innovation in product offerings [4] Segment Performance - Equity AUM increased by 14% to $89.0 billion, driven by strong demand for MDT strategies, which saw AUM rise to $23.2 billion [5][6] - Fixed-income AUM grew 4% year-over-year to $98.7 billion, despite a slight sequential decline [6] - Money market assets reached $634.4 billion, an 8% increase year-over-year, while alternative and private market AUM rose 3% to $20.7 billion [6][11] Product Development and Market Trends - The firm is investing in new product development, including blockchain for money market fund tokenization and expanding ETFs and collective investment trusts [12] - MDT strategies and alternatives are showing strong momentum, with net sales of over $2.5 billion in the previous quarter [10] Capital Return - The regular quarterly dividend was set at $0.34 per share, with ongoing share buybacks authorized for up to 5 million additional shares [9][13] Outlook - Management anticipates continued demand for MDT strategies and alternatives, with a positive pipeline for new mandates in equity and direct lending products [14]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - US equity funds experienced an inflow of US$16.3 billion during the week of July 9, 2025, while bond funds saw an inflow of US$20.8 billion, indicating a mixed performance in US fund flows [1] - Global funds continued to attract strong inflows, totaling US$5.1 billion, while European funds had an inflow of US$1.4 billion, primarily into regional ETFs [1] - Emerging Market (EM) funds also saw significant inflows, with US$2.9 billion into EM funds, and US$3.0 billion into GEM funds, marking the fourth consecutive week of strong subscriptions [2] Summary by Sections US Fund Flows - US equity funds had an inflow of US$16.3 billion, while bond funds attracted US$20.8 billion during the week of July 9, 2025 [1] - Mixed flows were observed in US funds, with US$9.5 billion inflows into ETFs countered by US$6.1 billion in redemptions from non-ETFs [1] Global and European Fund Flows - Global funds saw inflows of US$5.1 billion, and European funds had an inflow of US$1.4 billion, mainly into regional ETFs [1] - The report highlights the continued strength of global fund inflows compared to US funds [1] Emerging Market Fund Flows - EM funds recorded an inflow of US$2.9 billion, with GEM funds attracting US$3.0 billion in subscriptions, indicating robust interest in emerging markets [2] - EMEA funds also experienced inflows of US$0.3 billion, while flows to Latin American funds slowed down, particularly in Chile, which saw US$156 million in net redemptions [2] Local Intelligence - Taiwan saw a net foreign inflow of US$1.2 billion, Korea had US$0.4 billion, and Japan experienced a significant foreign inflow of US$3.8 billion [3] - Southbound flows from China to Hong Kong remained strong at US$3.2 billion, reflecting ongoing investment interest in the region [3]