Rights and fixed income show their strengths, public offering new issues are structurally differentiated.

Last week, the new issuance market of public funds showed a trend of structural differentiation. According to Wind data, there were 27 new funds established during the week, with a total issuance of 16.423 billion shares, and an average issuance of 608 million shares per fund. In terms of product type, equity funds accounted for 56.35% of the issuance, making it the main force in issuance, followed closely by bond funds with a 42.22% share, both of which together contributed more than 90% of the issuance scale. Looking at the data for the week, the new issuance market of public funds showed the characteristics of "equity warming and fixed income stability." The warming of equity fund issuance may reflect an improvement in market expectations for policy and economic recovery, while the continued inflow of bond funds highlights the differentiation in investor risk preferences. Industry insiders point out that the current new issuance market is still mainly driven by existing products, and product innovation and channel strategies may become key factors for fund companies to break through.