Fund Issuance Market Shows Divergence: Bonds Heat Up While Stocks Cool Down

Recently, amid volatile stock market conditions, the issuance of equity funds has cooled again. According to data as of October 21, many newly launched funds were established just meeting the 200 million yuan fundraising threshold. In the third quarter that just ended, the average fundraising size for new funds hit a new low since 2005. Analysis reveals that over 70% of equity ETFs were established by merely meeting the minimum requirement. Interviewees attribute the cooling in equity fund issuance directly to adjustments in A-share technology stocks. In sharp contrast, bond funds have attracted significant investor interest. Additionally, with the current number of funds approaching 15,000 and investment targets covering most underlying assets, severe product homogenization has emerged; innovative products struggle to continue attracting capital favor. (Securities Times)