This week, the new fund market witnessed a minor issuance peak, with a total of 32 new products opening for subscription. These involve 27 fund companies, including GF Fund, E Fund, Southern Asset Management, Invesco Great Wall, China Merchants Fund, Xingquan Global, Tianhong Fund, Yinhua Fund, Yongying Fund, and Western Lead Fund.
From a product type perspective, this week's new issuances include 14 equity funds, 7 hybrid funds, 6 bond funds, and 6 FOFs, covering different risk-return profiles and offering investors multi-layered allocation choices.
The issuance of equity funds this week focuses on high-growth and high-volatility sectors, encompassing diverse themes such as batteries, artificial intelligence, consumer goods, healthcare, dividends, non-ferrous metals, oil & gas, and STAR Market & ChiNext indices. Notably, several products track Hong Kong Stock Connect-related indices (e.g., internet, information technology, healthcare), reflecting institutional confidence in the continued valuation repair and structural opportunities within the Hong Kong market.
Regarding subscription periods, some products have short windows (e.g., February 2nd to February 6th), while others remain open until late February or early March, allowing investors flexibility based on their schedules. In terms of investment thresholds, while some ETFs like the E Fund CSI Battery Theme ETF, E Fund CSI All Share Dividend Quality ETF, and Bosera CSI Industrial Non-ferrous Metals Theme ETF set a minimum subscription of 1,000 yuan, most feeder funds and actively managed products have a minimum of just 1 yuan, a low-threshold design that further caters to retail investors. Multiple asset managers, including E Fund, Penghua, Southern, Bosera, China Merchants, and Yinhua, have launched new products, indicating their active positioning towards current market structural opportunities.
Compared to new equity funds, hybrid funds place greater emphasis on the combination of stocks and bonds and balanced allocation across sectors and regions in their design; some products also incorporate Hong Kong asset allocation, providing investors with more flexible multi-asset tools. This week, seven hybrid funds opened for subscription, with most having a minimum subscription of 1 yuan; only Fullgoal Value Return A sets a slightly higher threshold of 10 yuan.
Despite being hybrid products, some funds still concentrate on specific sectors: Taishin Consumer Selection A primarily invests in mainland consumer themes, GF Medical Innovation Select A focuses on the healthcare sector and Hong Kong-listed medical stocks, while Western Lead Innovation Drive Xuan A tracks strategic emerging industries.
Fund managers across experience levels are present, including veterans like Yang Meng of Boda Fund and Xu Muhao of Taishin Fund; mid-career managers like Luo Lijun of Caixin Fund and Guo Lin of Invesco Great Wall; and newer managers like Mao Yifan of Fullgoal Fund and Cheng Wenwen of GF Fund. Investors should also note the subscription time windows: some products, like Taishin Consumer Selection A, have a subscription period of only 2 days, and GF Medical Innovation Select A only 3 days, requiring attention to deadlines.
This week, six bond funds opened for subscription, five of which employ a "fixed-income plus" strategy, enhancing returns by allocating a portion to equity assets on top of a bond base, with one being a pure bond fund. Overall subscription thresholds are low, mostly 10 yuan or 1 yuan. Except for GF Tianyi 120-Day Rolling Hold A, which is a pure bond fund, the other five products allocate to stock indices, with equity positions typically between 10%-20%, enhanced mainly through A-share broad-based indices (like the CSI 300, CSI 500, CSI 800) and Hong Kong indices.
Some products feature holding periods, such as Yongying Fengxiang 90-Day Hold A and GF Tianyi 120-Day Rolling Hold A, which helps mitigate liquidity impact from short-term redemptions and improves fund stability.
Key products include ABC Ruihui A: Its equity portion focuses on the CSI 500, emphasizing small and mid-cap growth style, suitable for investors bullish on small-mid cap elasticity. Yongying Fengxiang 90-Day Hold A: Features a lower equity allocation (5%), primarily in the CSI 300, offering a more conservative style for short-term capital allocation. Huibaichuan Wenhang Enhanced A: Has the longest subscription period (until May 4th), with a balanced structure covering A-shares, Hong Kong stocks, and deposits. GF Tianyi 120-Day Rolling Hold A: The sole pure bond fund without equity exposure, suitable for extremely risk-averse investors.
Entering February 2026, the FOF market also welcomed several new products. Unlike funds that invest directly in stocks or bonds, FOFs achieve secondary asset diversification by holding a portfolio of funds, making them particularly suitable for investors seeking stable allocation. This week, six FOFs commenced fundraising, all designed with a 3-month holding period and a minimum subscription of 1 yuan, demonstrating the inclusive approach of fund companies towards low thresholds and holding period designs.
Several products incorporate assets like gold (Shanghai Gold AU99.99) and overseas stock indices (S&P 500, MSCI Developed Markets) into their allocations, highlighting the FOFs' ability to cover a wide range of asset classes and enhance portfolio resilience against volatility. The equity portion is primarily represented through fund indices or broad-based indices: for instance, products like Invesco Great Wall Yingjing Conservative Allocation and Tianhong Yingxiang Multi-Asset Navigator directly use the CSI Partial Equity Fund Index as the benchmark for their equity component, underscoring the FOF's core nature of "investing in funds." Most products maintain bond allocations between 75%-85%, with equity-like exposures (including stocks, funds, overseas, Hong Kong) around 10%-20%, categorizing them as conservative FOFs.
Among them, Southern Wengjia Multi-Asset Allocation offers the broadest coverage, including A-shares, U.S. stocks, gold, bonds, and cash, suitable for investors seeking comprehensive diversification. This fund, originally scheduled to close on February 13th, announced an early closure after just one day of fundraising.
Tianhong Yingxiang Multi-Asset Navigator has the highest equity allocation (approximately 65%), achieved mainly through the partial equity fund index, indicating a relatively aggressive style. Invesco Great Wall Yingjing Conservative Allocation incorporates the MSCI Developed Markets Index, providing exposure to global mature markets. Meanwhile, Lionhead Zhiying Preferred offers a straightforward structure of A-shares + Hong Kong stocks + bonds, suitable for investors who prefer clear asset allocation.
Note: The above content is for reference only and does not constitute investment advice. Assisted by AI. Funds carry risks; investment requires caution.
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