Institutional outlook: Impact of public funds on the scale of 4 trillion yuan

In a low interest rate environment, the asset management industry will continue to benefit. Industry institutions and experts predict that the size of public funds is expected to continue growing in 2026. Bosera Fund believes that the core logic for the continued growth of the size of public funds in 2026 lies in three aspects: first, long-term funds such as insurance, personal pensions, and social security funds continue to enter the market, providing incremental support; second, low interest rates drive savings to "move" into diverse products such as ETFs and fixed income, accurately receiving residential and financial funds; third, policy dividends such as fee rate reform and long-term evaluation continue to be released, enhancing product attractiveness and investor experience. "Next year, the size of public funds will exceed 40 trillion yuan." A head of public offering market department in Shanghai said, "Slow bull market, long bull market, and healthy bull market" have become consensus, with the curtain of residents' funds "moving" continuously opening, insurance reducing business risk factors, providing the market with a source of "living water". The head believes that equity and "fixed income+" products will become the main force of scale growth, the former's growth momentum comes from a slow bull market, and with the diffusion of money-making effects, its growth rate is expected to accelerate; the outbreak of "fixed income+" products is a result of the low interest rate environment.