According to statistical data, measured by subscription start dates, the entire market plans to issue 24 new mutual funds this week (March 23 to March 29, 2026). This marks the second consecutive week where the number of new issuances has fallen below 30.
An FOF fund manager commented that the mutual fund issuance market has cooled down since mid-March, primarily due to increased rationality on both the supply and demand sides. On one hand, as the A-share market experienced adjustments in mid-March, the profit-making effect of equity assets weakened, leading to a decline in investor risk appetite and reduced willingness to actively subscribe to new funds. On the other hand, fund management companies have proactively slowed their issuance pace to await more favorable market conditions.
In terms of product types, equity funds remain the mainstay of this week's issuances. Data shows that among the 24 planned new funds, equity products number 20, accounting for 83.33% of the total. This includes 14 stock funds and 6 hybrid funds. Within the stock fund category, passive index-tracking products dominate, with 11 such funds comprising 78.57% of all stock funds.
Additionally, two new Fund of Funds (FOF) products and two new bond funds are set to begin issuance this week.
A closer look at the new funds awaiting issuance this week reveals that four products include the term "Hong Kong Stock" in their names. These are: China Universal Hong Kong Stock Connect Cycle Selection Hybrid, China Universal CSI Hong Kong Stock Connect Healthcare Theme ETF, Penghua CSI Hong Kong Stock Connect Information Technology Composite ETF, and Penghua Hang Seng Hong Kong Stock Connect Automotive Theme ETF. This reflects a high level of attention from public fund institutions towards the future performance of the Hong Kong stock market, indicating proactive positioning through product offerings.
A previously released market perspective from a fund company suggests that the current period remains an upward phase in the technology cycle centered on AI. Concurrently, there is a widespread market expectation that the U.S. Federal Reserve will implement interest rate cuts this year, potentially leading to a more accommodative overseas liquidity environment over the next year. Coupled with sustained favor from southbound capital towards core Hong Kong stock assets, the Hong Kong market's technology sector is seen as having strong support for both valuation recovery and earnings growth, with expectations for favorable performance.
Regarding investment opportunities in the new energy vehicle sector, a representative from Penghua Fund stated that recently, the total cost-of-ownership advantage for new energy vehicles in overseas markets has become more pronounced, further enhancing the global competitiveness of Chinese new energy products. From January to February, China's passenger vehicle exports reached 1.174 million units, a year-on-year increase of 53.3%, demonstrating strong momentum for leading automakers expanding overseas. Meanwhile, overseas business operations are accelerating their upgrade from单纯的 "product exports" to "capacity and ecosystem exports," with high-margin export increments continuously opening up profit space for vehicle manufacturers.
In terms of issuing institutions, the 24 new funds planned for this week come from 20 different public fund management companies. Among them, China Universal Fund, Penghua Fund, Huabao Fund, and Bank of China Fund each plan to issue two new funds, while the remaining 16 institutions are each launching one new product.