The number of new funds launched during the year reached a nearly three-year high, with "small and diverse" replacing "creating explosive sales".

As of November 11, the number of new funds launched in the entire market this year has reached 1371, hitting a new high in nearly three years. In sharp contrast to the hot issuance quantity, the average fundraising size of new funds is only 7.82 billion yuan. This phenomenon of "increase in quantity + decrease in average size" outlines a profound change in the public offering fund issuance market in 2025. Industry insiders believe that the public offering fund issuance market in 2025 has completely transitioned from a model driven by star fund managers and explosive single products to a new stage characterized by "toolization, segmentation, and institutionalization" in a "broad net" manner. Fund companies are intensively developing low-cost, high-efficiency tool products to adapt to market changes and investors' increasingly rational demands. This trend is expected to deepen in the coming years.