2026年开年，公募基金发行市场"春意盎然"。 其中，年内新成立的股票型基金仍旧以ETF产品为主。 同时，在新成立的74只混合型基金中，偏股混合型基金占据绝对C位：共有68只，合计发行规模737.8亿元；而偏债混合型基金仅有4只，占比 较低，其余2只为灵活配置型基金。 这意味着，2026年前两个月，新成立权益基金（股票型基金+偏股混合型基金）的发行总规模达到1208.38亿元。 Wind数据显示，以基金成立日为准，截至2月26日，在2026年前两个月成立的新基金数量达到230只，发行规模合计2102.80亿元。至此，于年 内成立的新基金数量及发行规模均同比增长逾41%。 权益基金发行规模超1200亿元 同时，新基金的结构呈现明显变化：权益基金主导下，FOF、固收+产品颇有异军突起之势。 受访人士向21世纪经济报道记者指出，权益基金发行火热有望为A股带来千亿级增量资金托底、流动性改善、机构定价权提升的积极影响。 在公募基金发行市场回暖过程中，权益基金成为主力选手。 据Wind统计，2026年1月1日～2月26日，全市场新成立混合型基金74只，合计发行规模796.43亿元（即发行份额796.43亿份），在同期新基 ...

2026年开年，公募基金发行市场"春意盎然"。 Wind数据显示，以基金成立日为准，截至2月26日，在2026年前两个月成立的新基金数量达到230只，发行规模合计2102.80亿元。至此，于年 内成立的新基金数量及发行规模均同比增长逾41%。 同时，新基金的结构呈现明显变化：权益基金主导下，FOF、固收+产品颇有异军突起之势。 受访人士向21世纪经济报道记者指出，权益基金发行火热有望为A股带来千亿级增量资金托底、流动性改善、机构定价权提升的积极影响。 权益基金发行规模超1200亿元 在公募基金发行市场回暖过程中，权益基金成为主力选手。 据Wind统计，2026年1月1日～2月26日，全市场新成立混合型基金74只，合计发行规模796.43亿元（即发行份额796.43亿份），在同期新基金 发行总规模中的占比约为38%；新成立91只股票型基金，合计发行规模470.58亿元，占比约为22%。 其中，年内新成立的股票型基金仍旧以ETF产品为主。 同时，在新成立的74只混合型基金中，偏股混合型基金占据绝对C位：共有68只，合计发行规模737.8亿元；而偏债混合型基金仅有4只，占比 较低，其余2只为灵活配置型基金。 这意味 ...

Core Insights - The public fund issuance market in 2026 shows significant growth, with 230 new funds established and a total issuance scale of 210.28 billion yuan, representing a year-on-year increase of over 41% in both quantity and scale [1][2] Fund Structure Changes - The structure of new funds has shifted, with equity funds dominating, while FOF and fixed income+ products are emerging strongly [2][5] - In the first two months of 2026, 74 new mixed funds were established, totaling 79.64 billion yuan, accounting for approximately 38% of the total new fund issuance [3] - New stock funds primarily consist of ETF products, with 91 new stock funds launched, totaling 47.06 billion yuan, representing about 22% of the total [4] Equity Fund Dominance - The total issuance scale of newly established equity funds (stock funds + equity mixed funds) reached 120.84 billion yuan in the first two months of 2026 [4] - The trend indicates a strong willingness for new capital to enter the market, improving liquidity and enhancing institutional pricing power [2][11] Fixed Income Fund Trends - The issuance scale of newly established bond funds has significantly declined, with a total of 28 new bond funds launched, totaling 33.47 billion yuan, compared to 73.64 billion yuan in the same period of 2025 [6][7] - The decline in bond fund issuance reflects a shift in investor preference towards equity assets [11] Market Outlook - The hot issuance of equity funds is expected to attract significant incremental capital into the A-share market, potentially leading to a positive impact on liquidity and pricing power [8][11] - There are 58 new funds scheduled for issuance in March, indicating continued interest in equity investments [10] Investment Themes - Newly established equity funds cover various themes, including technology, consumption, and resource sectors, reflecting a diverse investment strategy [9] - The focus for 2026 is expected to be on performance realization and domestic production, particularly in AI and semiconductor sectors [12][13]

Core Viewpoint - The article emphasizes the growth and future potential of the Chinese capital market, particularly in the context of public funds, which are seen as crucial for efficient resource allocation and supporting high-quality development in the economy [5][11]. Group 1: Industry Overview - In 2025, the total scale of public funds in China exceeded 37 trillion yuan, with equity public funds surpassing 11 trillion yuan, indicating robust growth in the asset management sector [5][6]. - The capital market is expected to maintain a stable yet progressive development tone in 2026, with public funds playing a vital role in promoting efficient resource allocation and enhancing the vitality of quality enterprises [11]. Group 2: Company Strategy and Performance - The company has achieved a profit of 39.955 billion yuan for investors over the past year, with a cumulative service client base exceeding 54.39 million [8]. - The company has diversified its product offerings, launching its first QDII product and bond ETF, which aim to connect investors with global opportunities and provide innovative tools for precise bond allocation [7][10]. Group 3: Research and Development - The company has developed a comprehensive investment research framework, referred to as the "four-wheel drive" model, which focuses on creating value through a robust investment research system that can withstand market fluctuations [9]. - The company is committed to enhancing its quantitative and financial technology capabilities, having developed integrated investment management systems that have received industry recognition [10]. Group 4: Social Responsibility - The company has engaged in social responsibility initiatives, including support for local schools and disaster relief efforts, reflecting its commitment to community welfare [11].

十二年前，作为一家银行系公司，我们从固收业务起步，这份禀赋强化了我们对风险的深刻敬畏、对稳健的不懈追求，也让我们发展初期拥有了坚实 的"底座"。我们异常珍视，但始终未停止向前的脚步，我们深知，只有丰富多元的产品才是服务客户、承载信任的真正载体。 这种战略定力，也贯穿于我们近年的每一步发展印记中。过去三年，我们在红利与高股息板块崭露头角，但与此同时，我们从未停止对科技、周期等领域 的持续深耕与力量储备。正是基于长期积淀与逆市布局，我们才能从2024年起，敏锐地辨识出新一轮科技创新周期的曙光。 大家好，我是永赢基金总经理芦特尔。 岁聿云暮，新元肇启。值此辞旧迎新的美好时刻，我谨代表永赢基金，向始终信任我们的广大持有人，向一路同行的合作伙伴，向一年来辛勤付出的全体 永赢人，致以最诚挚的感谢和最美好的新春祝福！ 2025年，是国家"十四五"规划圆满收官之年，也是中国新质生产力蓬勃发展之年。资本市场与时代脉搏同频共振，这一年，我国公募基金总规模超37万亿 元，权益类公募基金突破11万亿元①。公募基金在服务实体经济、助推新质生产力发展中彰显担当，也在助力居民财富配置优化、提升投资者获得感的道 路上步履坚实。 置身于中国基 ...

Core Viewpoint - The article emphasizes the optimistic outlook for the A-share market in 2025, highlighting the importance of high-quality development in public funds and the role of technology innovation as a key driver for capital market improvement [1][4]. Group 1: Market Performance and Trends - In 2024, the A-share market demonstrated resilience with a deep V-shaped recovery, marked by significant fluctuations due to external factors, but stabilized by long-term capital inflows and timely monetary policy adjustments [1]. - The Shanghai Composite Index historically surpassed the 4000-point mark, supported by a strong spring market in January 2025, leading to continuous new highs and a sustained market profitability effect [1]. - The market is expected to enter a consolidation phase after consecutive increases, but the long-term upward trend remains intact, with potential for new highs post-Spring Festival [4]. Group 2: Policy and Regulatory Developments - The China Securities Regulatory Commission (CSRC) initiated a series of reforms aimed at promoting high-quality development in public funds, including the release of action plans and guidelines to enhance investment clarity and reduce costs [2]. - These reforms are designed to stabilize investment styles and improve the overall investor experience, thereby increasing the long-term sense of gain and satisfaction for investors [2]. Group 3: Strategic Focus Areas for Fund Management - The company aims to enhance its capabilities in supporting national strategies, particularly in fostering high-level technological self-reliance and innovation, by developing relevant equity products [2]. - There is a focus on identifying alpha opportunities in a market characterized by rapid rotation and complex driving factors, necessitating deeper investment research and a disciplined approach to capturing excess returns [3]. - The implementation of dual-track reforms for performance benchmarks and fee structures is expected to improve product transparency and investor engagement, while diversified asset allocation strategies will help mitigate risks and enhance stability [3].

Group 1 - The Chinese economy is expected to show resilience and exceed expectations in industrial and service sectors due to proactive fiscal and loose monetary policies, despite uncertainties from new tariffs and international changes [2] - The Shanghai Composite Index reached a ten-year high, hitting 4000 points, with annual trading volume surpassing 400 trillion yuan for the first time [2] - The upcoming macro policies are anticipated to support a strong start for the 14th Five-Year Plan, with a focus on quality improvement and efficiency enhancement [3] Group 2 - The new technological revolution is reshaping the global economic and industrial landscape, providing new momentum for the Chinese economy, with investment opportunities in technology, overseas expansion, and domestic demand [3] - Active management based on fundamentals remains a core competitive advantage in the public fund industry, despite the increasing difficulty in generating excess returns due to changes in industry dynamics [3] - The company emphasizes a long-term investment philosophy and has built a diversified research team to enhance multi-asset allocation capabilities, particularly in the technology sector [4] Group 3 - The company has established a diverse product line targeting absolute returns across different risk profiles, including fixed income and multi-strategy products, achieving top rankings in absolute returns among large firms [5] - The company is also embracing index investment trends, expanding its index product offerings to meet diverse investor needs, including broad-based, thematic, and cross-border indices [5] - The public fund industry is undergoing a transformation from scale-oriented to investor return-oriented, with the company committed to high-quality development and improved investment performance [6]

Group 1 - The global asset management landscape underwent significant adjustments in 2025, with China's capital market reforms continuing to deepen, leading to steady progress in high-quality development [4][8] - The public fund industry is transitioning from a scale-driven approach to a value-driven high-quality development phase, guided by the "Action Plan for Promoting High-Quality Development of Public Funds" [4][8] - 2026 marks the beginning of the "14th Five-Year Plan," positioning the public fund industry at a new starting point for high-quality development [4][9] Group 2 - The company, Jin Ying Fund, emphasizes the importance of understanding people's needs and functionality, actively practicing inclusive finance, and prioritizing investor interests [4][9] - Jin Ying Fund aims to enhance the investment experience for holders by providing diverse, adaptable products and focusing on long-term value creation [4][9] - The integration of research and investment capabilities is crucial for the company's foundation, with a focus on improving investor service levels to achieve mutual success [4][9] Group 3 - The product layout strategy will focus on three main lines: equity, fixed income, and asset allocation, while also expanding innovative business opportunities [5][10] - The equity investment line will advance through both active and passive strategies, enhancing product structure adaptability to different market environments [5][10] - The company plans to develop a comprehensive product system covering various risk gradients in fixed income investments and will actively prepare for the development and application of pension fund products [5][10]

出品｜搜狐财经 作者｜汪梦婷 编辑｜杨锦 2026年的1月，本应是银行理财惯例中的"开门红"旺季，却意外遭遇了一场"倒春寒"。 全市场理财规模缩水逾千亿，头部大行理财子更是成为了缩量的重灾区。与此同时，公募基金却在权益市场的回暖中异军突起，月度发行份额创近三年新 高，开户数更是翻倍。 "一冷一热"背后，并非简单的季节性波动，还有居民财富在"降息周期"与"赚钱效应"博弈下的自发迁移。数据显示，今年1月，公募基金业绩表现优异，35 只基金月度收益超过30%，还有3只基金涨幅超过50%。 这种极端的业绩表现，不断通过社交媒体发酵。而银行理财长期以来宣传的"低波动、小确幸"，在权益基金单月50%的暴利面前，显得有些苍白无力。 按照往年惯例，1月通常是银行理财的"开门红"时点，然而今年1月的数据却给市场泼了一盆冷水。 据华西证券数据，全市场银行理财规模在1月内缩量1142 亿元，并未如市场预期那样回升。其中月末周（26-30日），在回表的驱动下，理财规模再度承 压，环比降1788亿元至33.18万亿元。 市场呈现出鲜明结构性特征。过去两年狂飙突进的头部理财子公司，在今年首月反而成为了缩量的重灾区。 据证券时报及相关渠道 ...

专题：资本市场大咖2026新春献词：骏马踏春来 驭势稳行启新程 编者按：辞旧迎新，金马贺岁。值此新春佳节，新浪财经特邀公私募领域数十位领军人物，通过镜头与 文字，为投资者送来马年新春祝福。信心如磐，笃行致远。愿这一声声真挚寄语，伴您策马扬鞭，共赴 投资长路。 永赢基金总经理送来新春祝福。他表示，2026年，"十五五"的壮阔蓝图全面铺展。资本市场稳中求进、 以进促稳的发展基调清晰可见，公募基金既是促进资源高效配置、让优质企业和资金迸发活力的重要组 成部分，亦是普惠金融的中坚力量。永赢基金将继续积极响应行业导向，在资管行业的长期主义道路上 坚定前行，为中国资本市场的高质量发展贡献专业力量。征程万里，初心如磐。最后，感谢您一直以来 的信任，永赢基金愿与您携手，走得更稳、更远。 大家好，我是永赢基金总经理芦特尔。 这种战略定力，也贯穿于我们近年的每一步发展印记中。过去三年，我们在红利与高股息板块崭露头 角，但与此同时，我们从未停止对科技、周期等领域的持续深耕与力量储备。正是基于长期积淀与逆市 布局，我们才能从2024年起，敏锐地辨识出新一轮科技创新周期的曙光。 我们并非追逐短期的聚光灯，而是将目光投向产业变革的深处， ...