Securities firms' collective asset management business scale accounted for the first time exceeds that of single asset management business scale.

According to the analysis report on securities brokerage business performance in 2025 released by the Securities Association of China, as of the end of 2025, the total net value of entrusted assets under asset management by securities firms was 10.21 trillion yuan, a year-on-year increase of 5.49%. Among them, collective asset management and special asset management made significant contributions to the increase, growing by 13.48% and 14.49% respectively. From the perspective of business structure, the proportion of collective asset management business scale exceeded that of single asset management business scale for the first time. In terms of product investment types, the scale of non-fixed income asset management was approximately 3.6 trillion yuan, an increase of 16% year-on-year. Overall, the transformation of asset management business is steadily progressing, the business structure continues to be optimized, and the transition to active management is accelerating.