Starting January 19th, the public fund market welcomes a new round of product launches. A total of 40 new funds will initiate subscriptions this week, involving 26 fund management companies including Fullgoal, Penghua, ICBC Credit Suisse, Yinhua, E Fund, Wanjia, ChinaAMC, China Universal, JPMorgan, and Tianhong. In terms of type distribution, there are 15 equity funds, 12 FOF funds, 9 hybrid funds, and 4 bond funds.

Data source: Wind Statistics period: January 19, 2026, to January 22, 2026 This week, the A-share market sees a concentrated issuance of new equity funds. Regarding product types, thematic index funds remain the primary focus for deployment, covering numerous sub-sectors such as engineering machinery, non-ferrous metals, chip design, healthcare, photovoltaics, livestock farming, and artificial intelligence, providing investors with a rich array of sector allocation tools. The tracking benchmarks of the new funds closely align with current market hotspots and policy directions: technological innovation and high-end manufacturing, chips and AI: Penghua SSE STAR Market Chip Design Theme ETF and China Universal SSE STAR Market AI ETF Link A directly target the core of the semiconductor and AI industry chains. New energy direction: Penghua ChiNext New Energy ETF Link A and Fullgoal CSI Photovoltaic Industry ETF continue to deploy in the energy transition sector. Cyclicals and resources, industrial metals and energy: Tianhong CSI Industrial Non-ferrous Metals Theme ETF and Fullgoal SZSE Oil & Gas ETF cover the upstream resources sector. Engineering machinery: ChinaAMC CSI Engineering Machinery Theme ETF responds to infrastructure investment and equipment renewal demand. Consumption and livelihood, healthcare and livestock: ICBC CSOP SHSEM HKD Healthcare Theme ETF (deploying in Hong Kong healthcare stocks) and Yongwin CSI Livestock Farming Industry ETF focus on the healthcare and essential consumption sectors. Utilities direction: UBS SDIC CSI All Share Utilities ETF emphasizes defensive qualities and stable dividend attributes. The newly issued funds come from several established public fund companies including ChinaAMC, E Fund, Fullgoal, China Universal, Penghua, and ICBC Credit Suisse. In terms of product structure, besides purely passive index ETFs, there are also index-enhanced products, such as: BOC CSI All Share Index Enhanced A and Huatai-PineBridge CSI A500 Index Enhanced A. These funds aim to achieve excess returns through active management while tracking their benchmark indices. Data source: Wind Statistics period: January 19, 2026, to January 22, 2026 A total of 12 FOF funds begin fundraising this week, involving several established public fund companies including Fullgoal, Southern, China Merchants, ICBC Credit Suisse, Yinhua, and JPMorgan. Subscription periods mostly start from January 19th, continuing until the end of January or early February, providing investors with ample participation windows. The subscription thresholds are extremely accessible, with most products starting from 1 yuan and some from 10 yuan. They are generally positioned as "stable" and set minimum holding periods of 3 or 6 months, aiming to provide medium- to long-term wealth management tools with clear styles and strong operational discipline through professional asset allocation and fund selection. This week's new FOFs overall present an allocation strategy of "fixed income as the base, diversified enhancement, global perspective, and gold hedging." FOFs exhibit high commonality in strategy: A "fixed income plus" basic framework: In the performance benchmarks of the vast majority of products, the weighting anchor for bond assets (represented by indices like the CSI Pure Bond Fund Index or ChinaBond Composite Index) falls between 70%-85%, constituting the "stabilizer" for portfolio returns. Diversified equity enhancement strategies: Domestic market allocations primarily focus on broad-based indices like the CSI 300 or CSI 800, or high-dividend strategy indices like the CSI Dividend Index, seeking long-term growth or stable dividends. Overseas markets widely incorporate indices such as the Hang Seng Index, S&P 500, NASDAQ 100, and MSCI World Index, achieving cross-market and cross-regional diversification to smooth out single-market risks. Gold becomes a standard asset: Over half of the products explicitly include the "Shanghai Gold Exchange AU99.99 Spot Gold Contract Return" in their benchmarks, typically with a weight of 2%-5%. This highlights that, in the current macroeconomic environment, managers view gold as an important tactical allocation tool for inflation hedging and risk aversion. Pursuit of absolute return orientation: Some product benchmarks include the bank demand deposit interest rate, reflecting a focus on controlling portfolio downside risk and a clear pursuit of achieving positive returns. Representative products are as follows: Fullgoal Zhi Hui Wen Ding 3 Month Holding A: A "fund index" allocation type, directly using pure bond and equity-biased fund indices as benchmarks, emphasizing portfolio construction through the selection of high-quality funds across types, managed by FOF veteran Wang Dengyuan. Southern Xin Xin Ji Ji 3 Month Holding A: The equity portion (CSI 800 + S&P 500) benchmark weighting is as high as 70%, with bonds only accounting for 25%, featuring a distinct style suitable for investors with higher risk tolerance who are optimistic about the equity market. JPMorgan Ju Li Wen Ding Three Month Holding A: A globally diversified and balanced type. The equity portion is dispersed across A-share dividends, Hong Kong stock high dividends, and the MSCI World Index, combining global allocation with a dividend strategy. China Merchants Zhi Xiang You Xuan 3 Month Holding A: The equity portion not only covers the CSI 300 but also uniquely allocates to the NASDAQ 100 index, indicating its intent to capture global technology growth opportunities. Yinhua Hua Yuan Duo Yuan Pei Zhi Six Month Holding A: Primarily a dividend strategy, with the equity portion focusing on the CSI Dividend Index and Stock Connect High Dividend Index, pursuing stable dividend income, aligning with defensive needs in volatile markets. Data source: Wind Statistics period: January 19, 2026, to January 22, 2026 This week's newly issued hybrid funds exhibit diverse characteristics in strategy and focus, covering main themes such as quantitative stock selection,景气驱动 (prosperity-driven), healthcare innovation, and Hong Kong stock consumption. Most products concentrate their fundraising starting January 19th, with subscription periods varying in length, from as short as 2 days (e.g., New China Healthcare Innovation) to extending until February 6th. Overall, equity dominates with diverse styles: The majority of products have equity allocation ratios between 60%–90%, covering various styles such as large-cap, growth, small-mid cap, and sector themes. Hong Kong stock allocation becomes commonplace: Over half of the products include Hong Kong stock indices in their performance benchmarks, reflecting institutional attention to Hong Kong stock valuation repair opportunities. Distinct sector themes: Thematic funds like New China Healthcare Innovation, E Fund HKSC Consumer, Penghua Growth进取 (Growth进取), and ICBC Forward-looking Growth A provide investors with sector-specific tools. Accessible subscription thresholds: Except for two products with a minimum of 10 yuan, the rest start at 1 yuan, facilitating participation by individual investors. Data source: Wind Statistics period: January 19, 2026, to January 22, 2026 Four bond funds are being issued this week, primarily featuring a "fixed income plus" stable allocation strategy, suitable for investors with medium to low-risk preferences for asset allocation. In terms of product type and strategy, except for JPMorgan Heng Yue Chun Zhai A, which is close to a pure bond type, the other three employ a "fixed income plus" strategy, with equity allocations between 10%-15%, primarily deployed in A-share large-cap or small-mid cap stocks, sometimes combined with Hong Kong stocks. Fundraising cycles vary significantly: Products from Fullgoal and JPMorgan have longer fundraising periods (until April 17th), giving investors more decision-making time; products from Wanjia and China Universal have shorter, more compact fundraising schedules. Low subscription thresholds: Except for Fullgoal Jia Hui A starting at 10 yuan, the rest begin at 1 yuan, convenient for individual investors. Multiple manager co-management: Some products adopt a dual-fund manager model (e.g., JPMorgan, Wanjia), highlighting collaboration in bond and equity allocation. Data source: Wind Statistics period: January 19, 2026, to January 22, 2026 When selecting, investors should first clarify their own risk tolerance and investment horizon. Secondly, they should pay attention to the product's performance benchmark structure, portfolio style, and the fund manager's experience. Finally, they should make suitable choices based on the current market environment. Diversified allocation, long-term holding, and regular review are important principles for participating in fund investments. Note: This article is compiled based on publicly available information, with AI assistance, and does not constitute any investment advice. Funds carry risks, investment requires caution.