Haitong: The scale of new public offering funds in the fourth quarter of 2024 increased compared to the previous quarter, driven by the A500 index, reaching a record high in equity fund issuance scale.

Haitong released a research report stating that in the fourth quarter of 2024, the scale of new public funds increased compared to the previous quarter, with the launch of the Central Securities A500ETF linked products driving the new scale of index equity funds to a record high. In the fourth quarter of 2024, a total of 263 new funds were established, with a total fundraising scale of approximately 350.204 billion yuan, and an average scale of approximately 13.32 billion yuan. Compared to the third quarter of 2024, the number of new funds in the fourth quarter increased by 16, with a new fundraising scale of approximately 146.925 billion yuan, an increase of 72.28% compared to the previous quarter, but a decrease of 8.66% compared to the fourth quarter of 2023. In terms of fund types, the issuance of equity funds in this quarter further increased compared to the previous quarter, with the new fundraising scale accounting for 46.44%, an increase of 23.49 percentage points from the previous quarter. The issuance proportion of fixed-income funds further decreased to 40.89%, a decrease of 21.88 percentage points from the previous quarter. Equity funds: The scale of new index equity funds reached a record high, with a total of 175 equity funds established in the fourth quarter of 2024, including 131 stock funds and 44 mixed funds, with a total fundraising scale of 162.645 billion yuan and an average scale of 9.29 billion yuan. Stock funds are mainly focused on stock ETFs and stock ETF connections, with stock ETFs holding the largest number of 45 products with a total fundraising scale of 38.483 billion yuan, and stock ETF connections having the largest fundraising scale with 39 products with a total fundraising scale of 83.405 billion yuan. Among mixed funds, the issuance of strong stock-hybrid funds was the largest, with 38 products totaling 11.686 billion yuan. Index equity products such as the Central Securities A500ETF connection products are relatively favored by the market, with the Shanghai 180 index also being popular. Overall, investors still show low enthusiasm for actively managed equity funds. Fixed-income funds: The number and scale of new funds increased compared to the previous quarter, but the proportion decreased, with index products mainly focused on medium-term policy financial bond index funds. In the fourth quarter of 2024, a total of 56 fixed-income funds were established, with a total fundraising scale of 143.202 billion yuan and an average scale of 25.57 billion yuan. The largest category of fixed-income funds in terms of number and scale was pure bond bond-type funds, with 35 products totaling approximately 77.441 billion yuan; bond index replication funds also raised a substantial amount of funds, with 8 products totaling approximately 43.131 billion yuan, mainly tracking medium-term policy financial bond indexes. FOF: In the fourth quarter of 2024, a total of 6 FOFs were established, with a total fundraising scale of 9.78 billion yuan, a decrease of 44.08 billion yuan compared to the previous quarter, a decrease of 81.84% compared to the previous quarter; with an average fundraising scale of 1.63 billion yuan, a decrease of 0.36 billion yuan compared to the previous quarter. As of the end of the fourth quarter of 2024, there were a total of 499 FOFs in the public offering market, with a total scale of approximately 1480.83 billion yuan. QDII funds: In the fourth quarter of 2024, a total of 4 QDII funds were newly established, all of which were index stock products focused on the Hong Kong stock industry theme. REITs: The issuance was hot, with 12 products covering 5 types of assets established. In the fourth quarter of 2024, a total of 12 REITs products were newly established, with a total fundraising scale of 26.178 billion yuan covering assets such as transportation infrastructure, park infrastructure, warehouse logistics, and water facilities.