Countdown to the "year-end examination" of funds: index funds bear the brunt of the sprint in size.

With less than a month left until the end of 2025, the "year-end exam" of the public fund industry has officially entered its final countdown. Although regulatory authorities have emphasized diminishing the importance of ranking by size and promoting long-termism in recent years, in the increasingly intensifying public fund market, size remains the "lifeline" for many small and medium-sized companies, as well as the "cornerstone" for top companies to solidify their dominance. As the end of the year approaches, the sprint for public fund size has begun again. Securities China reporters have found that this year's year-end size battle presents a new situation: index funds have become the core battlefield for the giants' competition, while bond funds have become the main force in maintaining size stability, a departure from previous years when short-term bond funds led the charge.