Public Fund Issuance Market: FOF and Hard Technology Sectors Attracting Significant Attention

Ask AI · How to reflect changes in investor preferences in FOF issuance acceleration?

【Global Net Finance Comprehensive Report】At the start of the second quarter, the fund issuance market for public funds continued to heat up. According to Wind data, on the first trading day after the holiday (April 7), 27 funds began raising capital, and the total number of funds scheduled to be issued in April reached as many as 87. As of April 6, nearly 390 newly established funds since the beginning of the year, with issuance volume totaling 325.86B units, and the number of issuances hit a new high for the same period in the past three years.

Oriental IC

From the fund issuance structure as of April 7, there were 7 actively managed equity funds (including stock-bond hybrid/tilted equity funds and stock funds), such as Dongcai Emerging Industries, Huatai Zijingang Stock Connect Value Selections, and Jianxin Consumption Select; there were 10 passive index funds, broadly covering multiple popular sectors including consumer, technology, and energy. In addition, there were 6 bond funds, including 1 FOF and 1 QDII fund, and 2 enhanced index funds.

In addition, among the funds scheduled to be issued in April, there were 23 actively managed equity funds, including 2 plain stock funds and 21 stock-bond hybrid/tilted equity funds; there were 24 passive index funds, including 3 enhanced index funds. At the same time, there were 23 bond funds issued in April, matching the number of actively managed equity funds.

It is worth noting that FOF issuance has accelerated noticeably since this year. Wind data shows that as of April 6, there were 53 newly established FOFs since the beginning of the year, with an issuance volume of 69.05B units, and another 5 pending issuance. Looking back at the same period in 2025 and 2024, the number of FOFs established was 20 and 18, respectively, and the issuance volume was 23.03B units and 4.42B units, respectively.

At present, investors are increasingly recognizing the importance of diversified investing and professional management. With its characteristics of diversified asset allocation, the FOF product provides more market-entry channels for long-term funds such as retirement funds and wealth-management funds.

Looking at the thematic distribution of newly established funds since the beginning of this year, hard-tech is the key area institutions are focusing on. Wind data shows that among newly established funds since the beginning of the year, there are 50 products whose names include “Technology” or “Science and Innovation,” including funds from the Morgan Stanley Hu-Shen technology issuance with an issuance volume of 4.42B units. There are 9 funds themed around semiconductors or chips, with total issuance volume exceeding 2.5 billion units; there are 4 funds themed around artificial intelligence, with total issuance volume exceeding 1.3 billion units; and there are 14 funds themed around new energy and photovoltaics, with total issuance volume exceeding 2.8 billion units. (Nanmu)