The public fund issuance market has maintained its momentum at the beginning of the new year.

According to the latest data from Paipaiwang, based on the subscription start date, a total of 40 new funds were launched in the market this week (January 19 to January 25, 2026, same below), representing an increase of approximately 11% compared to the previous week (January 12 to January 18, 2026). The number of newly issued funds has remained at a high level of over 35 for three consecutive weeks.

Zeng Fangfang from Paipaiwang Wealth Public Fund Product Operations commented, "The sustained activity in new fund issuance recently is the result of multiple factors working together, including a recovery in market sentiment, policy support, active promotion by distribution channels, and a favorable macroeconomic environment. Firstly, the strong performance of the A-share market at the start of the year has attracted investors to allocate to equity assets through new funds. Secondly, policies focusing on developing new quality productive forces have created conditions for the issuance of thematic funds, such as those focused on technology and manufacturing. Thirdly, distribution channels have also seized the window at the beginning of the year to intensify marketing efforts; products from many leading public fund managers have achieved 'same-day sell-outs,' further accelerating the pace of new fund issuance. Finally, the current appropriately accommodative monetary policy has also brought sustained capital inflows to the market, creating a favorable environment for new fund issuance."

In terms of product structure, equity funds were the main force in issuance. A total of 24 equity funds were launched this week, accounting for 60% of all newly issued funds. This included 15 stock funds and 9 hybrid funds, indicating a relatively high willingness in the market to allocate to equity assets.

The issuance of FOF (Fund of Funds) products has shown a noticeable rebound. This week saw a concentrated issuance of 12 new FOF funds, setting a new historical record for a single week. Among these, hybrid bond-biased FOFs constituted the vast majority, with 10 funds. This reflects that investors, while pursuing returns, are placing increasing importance on risk control and the stability of asset allocation.

Analyzing this phenomenon, Li Chunyu, an FOF Fund Manager at Shenzhen Rongzhi Private Securities Investment Fund Management Co., Ltd., stated, "From the demand side, FOF products align with the current 'steady progress' wealth management needs of investors, particularly the long-term allocation demand brought about by the development of the third pillar of pensions. From the product side, FOFs, acting as 'professional fund selectors,' help investors reduce the difficulty of 'fund selection' through diversified asset allocation; their innovative designs, such as holding periods, also enhance the appeal of the products. From the market environment perspective, the net-worth transformation of bank wealth management has prompted bank wealth management subsidiaries and public fund institutions to deepen cooperation, further broadening the distribution channels for FOFs."

Further breaking down the product types, the number of passive index funds launched this week was the highest, reaching 13, accounting for 32.50% of all newly issued funds. There were 2 enhanced index funds.

Overall, the new fund issuance this week exhibited characteristics of "equity dominance, FOF rebound, and active index products." This not only reflects market confidence in equity assets but also indicates a trend towards greater diversification in the supply of public fund products.

From the perspective of fund management companies, a total of 26 public fund institutions had new funds launched this week. Among them, 16 institutions introduced 1 new product, while the other 10 institutions launched no fewer than 2 new products. Specifically, Fullgoal Fund led with 4 new funds starting their fundraising. ICBC Credit Suisse Asset Management and Penghua Fund followed closely, each with 3 newly issued products. Seven other institutions, including China Asset Management and HTFFUND, also each launched 2 new funds.