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China Fund News reporter Ruo Hui

The total size of public funds hit a new historical high.

Just now, the China Securities Investment Fund Association released the latest public fund market data. As of the end of July this year, the total scale of public funds reached 31.49 trillion yuan, an increase of 404.218 billion yuan compared with June. This is also the third consecutive month that the total scale of public funds has exceeded the 31 trillion yuan mark.

Judging from the changes in scale in July, stock, bond and currency funds are the "main force" driving the increase in the scale of public funds, and the monthly scale growth of the above three types of funds is over 100 billion yuan. From the perspective of month-on-month changes, the growth of stock and QDII funds is the most impressive, with the monthly scale growth exceeding 5%. In contrast, the scale of closed-end funds and hybrid funds has shrunk.

Since the beginning of this year, the scale of public funds has hit a record high four times, with a year-on-year growth of 3.89 trillion yuan. In this regard, industry insiders said that this year, whether it is the demand for index allocation represented by ETFs, the demand for cross-border investment represented by QDII, or the demand for stable financial allocation represented by bond funds, it is very strong. In the future, with the diversified development of public fund products, there is still a lot of room for scale growth.

The scale of public funds reached 31.49 trillion yuan

Set a new historical high

After the total scale exceeded 31 trillion yuan in May, the total scale of public funds hit a new historical high.

The latest data released by the China Securities Investment Fund Association shows that as of the end of July 2024, there are 163 public fund management institutions in my country, including 148 fund management companies and 15 asset management institutions with public fund qualifications. The net asset value of the public funds managed by the above institutions totals 31.49 trillion yuan.

Compared with June, the monthly scale of public funds in July increased by 404.218 billion yuan, a month-on-month increase of 1.30%. At the end of June, the total shares of public funds reached 29.95 trillion shares, a month-on-month increase of 0.96%, and the growth rate of scale was significantly faster than the growth rate of shares.

Since the beginning of this year, the scale of public funds has grown steadily, setting a new record four times. At the end of February, the scale of public funds reached 29.30 trillion yuan, breaking the historical high of 28.80 trillion yuan in July last year. By the end of April, the total scale exceeded 30 trillion yuan in one fell swoop, setting a new record again. Only one month later, the scale of public funds exceeded the 31 trillion yuan mark for the first time in May, once again witnessing history. At the end of June, although the scale of public funds shrank slightly, it still stood firm at the 31 trillion yuan mark. At the end of July, the latest scale reached 31.49 trillion yuan, setting a new record.

In the view of industry insiders, as residents' wealth continues to accumulate, the demand for wealth management is also growing, which is the fundamental factor driving the rapid growth of the public fund industry in recent years. Public funds still have much to do in meeting residents' pension needs and attracting long-term funds, and there is still a lot of room for future development.

Stocks, bonds, QDII, etc.

Multiple types of funds have seen growth

Judging from the data in July, the growth of the scale of public funds showed a "multi-point" situation, with various types of funds such as stocks, bonds, currencies, QDII, etc. growing to varying degrees.

Equity funds are the absolute "main force" driving the growth of public funds in July. Data shows that by the end of July, the number of equity fund shares reached 2.91 trillion, a month-on-month increase of 2.13%; the latest net value was 3.29 trillion yuan, a month-on-month increase of 5.82%, the largest month-on-month increase since March this year. The monthly scale of equity funds increased by 180.838 billion yuan in July, second only to money market funds among all types of funds.

On-site funds used stock ETFs to buy at the bottom, which was an important incremental fund for stock funds in July. Wind data showed that the scale of stock ETFs increased by 193.661 billion yuan in July, and the total scale exceeded the 2 trillion yuan mark for the first time.

In this wave of bottom-fishing, broad-based ETFs took over most of the incremental funds. According to Wind data, Huatai-PineBridge CSI 300 ETF attracted more than 52 billion yuan in July, and E Fund CSI 300 ETF also grew by more than 35 billion yuan in July. The CSI 300 ETFs under China Asset Management and Harvest Asset Management both grew by more than 20 billion yuan, and the scale of Southern CSI 1000 ETF, China Asset Management SSE 50 ETF, and Southern CSI 500 ETF all grew by more than 10 billion yuan. The top ten stock ETFs with the largest scale growth in July were all broad-based ETFs, and the top ten stock ETFs attracted a total of 183.189 billion yuan, accounting for 95% of the incremental scale of all stock ETFs.

Residents' demand for stable financial management was also strong in July, with bond and money market funds increasing by 116.286 billion yuan and 191.897 billion yuan respectively, ranking the top three in terms of size growth among all sub-type funds. The size of bond funds even exceeded 7 trillion yuan for the first time, setting a new record.

Although many QDII funds have limited or suspended purchases due to insufficient quotas, investors are still enthusiastic about allocating overseas markets through QDII funds. As of the end of July, the scale and shares of QDII funds were 523.673 billion yuan and 579.459 billion shares, respectively, up 5.18% and 4.68% month-on-month, with a very strong growth momentum.

In contrast, the size of closed-end funds and hybrid funds shrank slightly in July, with a month-on-month decrease of 0.42% and 2.66% respectively.