bestcryptogameapp| Just now, witnessing history! The first breakthrough was 30 trillion yuan!

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Source: China Fund Daily

Reporter Ruohui

The public offering fund industry ushered in another historic moment!

On the evening of May 23, the China Fund Industry Association released the latest issue of public fund market data. By the end of April this year, the total size of public offering funds had reached 30%.Bestcryptogameapp.78 trillion yuan, an increase of nearly 1.5 trillion yuan over March, helping the total scale to stand above the 30 trillion yuan mark for the first time.

Judging from the changes in April, the size of various types of funds, including stocks, hybrids, bonds, currencies, and QDII, rose across the board, of which monetary and fixed-income funds grew by 1.4 trillion yuan as a whole, which was the main force of the scale growth of public funds in April. Equity funds, including stocks and hybrid funds, also had an increase of more than 150 billion yuan in April.

A number of industry insiders said that the current regulatory policies further promote the fund industry to return to its origin, and public funds still have a lot to do in meeting residents' pension needs and attracting long-term funds, and there is still a lot of room for future development.

Scale of public offering fund

Stand at the 30 trillion yuan mark for the first time

After a month, the total size of public offering funds reached an all-time high.

According to the latest data released by the Fund Industry Association, as of the end of April 2024,BestcryptogameappThere are 148 fund management companies in China, including 51 foreign-invested fund management companies (including Sino-foreign joint ventures and wholly foreign-owned) and 97 domestic fund management companies. There are 13 securities companies or asset management subsidiaries of securities companies qualified for public offering fund management and 1 insurance asset management company. The total net asset value of the public offering funds managed by the above institutions is 30.78 trillion yuan.

Compared with March, the monthly size of public offering funds increased by 1.58 trillion yuan in April, up 5.41% from the previous month. At the end of April, the overall share of public offering funds reached 29.19 trillion, an increase of 4.84% over the previous month, and the scale grew faster than the share.

Judging from the situation so far this year, the A-share market staged a V-shaped rebound. After hitting a phased low of 2635.09 points in early February, the Shanghai Composite Index launched a counterattack against the Jedi. In less than a month, it successively recovered 2700 points, 2800 points, 2900 points, 3000 points and other integer levels, and successfully reached 3100 points at the end of April. With the net worth of some funds recovered, the size of equity funds is also on the rise, with an increase of more than 110 billion yuan during the year.

At the same time, the bond market continued to show a bull market, and incremental funds also entered the market through public offering funds, leading to the continuous growth of bond funds during the year.

According to lengthening statistics, since 2023, the size of public offering funds has increased by 4.75 trillion yuan, or 18.23%, reaching an all-time high for 4 times.

The scale of fixed-income products increased rapidly in April.

From the breakdown of various types of fund data, currency and fixed income products were the biggest drivers of fund growth in April.

In the past year, the bond bull market has continued, and institutional and individual investors have poured into bond funds. According to statistics, by the end of April this year, the share of bond funds had reached 5.45 trillion, with the latest size of 6.14 trillion yuan, an increase of 7.78% and 8.19% respectively over the previous month, with both share and scale reaching record highs.

According to an industry source, the recent cut in deposit interest rates by banks has led to a decline in the competitiveness of deposits and other low-risk products, and there is a strong incentive to sell short-term debt funds through channels, leading customers who previously bought wealth management products to apply for short-term debt funds instead.

Another industry insider also revealed that the company's growth this year mainly comes from fixed-income products. "Pure debt funds have hundreds of millions of yuan of applications every day, although the previous brief correction in the bond market led to some redemptions, but with the end of the adjustment, the funds returned to the bond fund."

"there is a strong demand for stable financial management in the market, and the top 10 net applications for non-goods funds of the company so far this year are all bond funds." Another industry insider said.

Benefiting from the pick-up in the A-share market, equity funds showed a double increase in share size in April. By the end of April, the share of equity funds had reached 2.74 trillion, up 0.75% from the previous month; the latest net worth was 3.18 trillion yuan, up 2.78% from the previous month.

As for mixed funds, as of the end of April, the latest size of mixed funds was 3.72 trillion yuan, an increase of 1.86% over the previous month; the latest share was 3.41 trillion, down slightly by 0.63% from the previous month.

It is worth noting that with the rise of passive investment, the growth of the size of index funds has driven the size of stock funds to a record high of 3.18 trillion yuan, while the scale of mixed funds, which is dominated by active funds, is still far from the previous historical peak of 6 trillion yuan.

The size and share of QDII funds also showed an "increase and decline" situation, with the latest size of 479.535 billion yuan at the end of April, up 1.23% from the previous month, and the latest share of 562.123 billion shares, down 0.67% from the previous month.

"in the past year, the net worth of many QDII products has increased significantly, and it cannot be ruled out that some investors choose to take profits, resulting in a shrinking share. At present, the QDII quota is in short supply, and some investors who are willing to buy are temporarily unable to apply for purchase. If the QDII quota is released in the future, it may promote the growth of QDII fund size and share. " An analysis by an industry insider.

The industry is optimistic about the future development of public offering funds.

In fact, the size of global public offering funds is also growing at the same time. A few days ago, according to the 2024 annual report released by the American Association of Investment companies (ICI), the total size of global open-end funds reached 68.9 trillion US dollars by the end of 2023.

"whether in China or overseas, the size of public offering funds is growing, which also reflects the product advantages of public offering funds." In the view of a fund manager, the relatively low threshold of public offering funds, supervision in place, and adequate information disclosure have jointly promoted the growth of public offering funds.

"the growth of the scale of public offering funds comes from two aspects: on the one hand, with the growth of the wealth of the whole society, the financial needs of residents are also increasing; on the other hand, when the wealth of the whole society is looking for financial solutions, there are relatively more funds flowing to public offering funds. this also shows that public offering funds have their own characteristics as a financial tool." Another fund manager expressed a similar view.

A number of industry insiders also said that the steady growth of the fund industry also benefited from the industry environment of strong supervision and strict supervision. Supervision and guidance of public offering funds to reduce commission fees, play down the star fund manager effect, strictly control risks, constantly correct the industry, increase investors' sense of achievement, the fund industry will also develop in a healthier and more robust direction in the future.

"From the current stage, public funds still have a lot to do in meeting residents 'pension needs and attracting long-term funds. From this perspective, there is still great potential for the future growth of public funds." A person from a fund company said.

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