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Cailianshe News, August 19 (Reporter Wu Yuqi)FOF, which is known as a professional fund buyer, has also been caught in the spotlight recently.

Some market observers bluntly said that "FOF products have fallen from the altar", while others expressed different views, "FOF has never been deified. There is no such thing as falling from the altar."

Since the first batch of public FOF products were approved by the China Securities Regulatory Commission on September 8, 2017, domestic public FOF has gone through nearly seven years of ups and downs. Although it ushered in a golden period of development between 2019 and 2021, recent market data shows that FOF products seem to be experiencing a challenging period.

In terms of performance, FOF has performed mediocrely this year. As of August 17, more than 70% of the products had negative returns, and the average net asset value growth rate was -3.46%.

From the overall scale statistics, while the overall scale of the public offering industry continues to grow, FOF products have fallen into a development bottleneck. While the number continues to grow, the scale continues to decline. Currently, there are 501 FOF products (only counting the main code), 15 more than at the beginning of the year, with a scale of 143.148 billion yuan, which has shrunk by 12.326 billion yuan compared with the beginning of the year. In addition, many FOFs have been liquidated this year, and some products have become mini funds and are on the verge of liquidation.

In addition to performance and scale, FOFs are also at risk of losing talent. Recently, Puyin Ansheng Fund announced that Chen Shuliang, the company's FOF business director, resigned from the nine products he managed at once and will not transfer to other positions in the company. Since August, 23 FOF fund managers have also resigned.