On November 30th,hot news Public Offering of Fund's new performance for the whole month was significantly better than before.
Wind statistics show that according to the fund establishment date, the number of newly established funds reached 136 this month, with a distribution share of 120.064 billion. In the future, the market may welcome 120 billion new funds to enter the market.
It is worth noting that the number of equity funds has increased significantly compared with October, with 69 equity funds and hybrid funds, far exceeding the level of 35 last month, but at the same time, the debt base is still the main force of the new market. The direction of asset allocation in the future is worthy of attention. After all, many equity and fixed-income products have recently suspended large-scale subscription or restricted the subscription ceiling.
Signs of warming in emerging markets are obvious.
On the closing day of November, there were long-lost signs of new warming in Public Offering of Fund. According to the statistics of Wind, according to the fund establishment date, there were more than 120 billion fund shares issued in that month, which has more than doubled than that in October.
Specifically, a total of 136 funds were established this month, with an average issuance share of 883 million shares. According to the statistics of 120.064 billion shares, there will be more than 120 billion yuan of incremental funds entering the market in the future. Although not all of them are equity positions, it must be said that this figure has increased significantly compared with 54.503 billion yuan in October.
"Actually, judging from our communication with the same channel, the new deposits of banks in Shenzhen have exceeded 700 billion yuan this year." Recently, when talking with the regional general manager of a fund company, the reporter of national business daily found that, as far as C-end is concerned, the precipitation effect of funds is still obvious. What people may lack is confidence, not assets.
Of course, from the perspective of products laid out by institutions, although the increase is obvious, the fixed-income products still account for the bulk. Wind statistics show that among the 136 newly established funds mentioned above, the number of stock-based and hybrid funds is only 69, although it is only improved from 35 in October, but the main force is still debt-based.
The reporter noticed that some of the equity funds that started to be raised this month also ended the fundraising quickly, and some products took only one day. Although they were dwarfed by the previous "10 billion explosions", they could have this fundraising efficiency under the current market background, at least indicating that the confidence of relevant funds is still sufficient.
Since the beginning of this year, there have been many difficulties in starting a new fund. The core perplexing factor comes from the pressure on the performance of existing products. In addition, the popularity of the A-share market at the beginning of the year did not give the fund a heavier variety at that time. Therefore, many investors in equity funds were "deeply trapped", but compared with the hot fund issuance in 2019 -2021, it is common for the total monthly issuance to exceed 100 billion.
However, we should also see that the monthly issuance scale of 100 billion yuan was also at the lower-middle level at that time, and at least enough market liquidity gave more valuation blessings to the stock investment targets. At present, it is expected to further stimulate market investors' confidence in the future by raising new public funds and returning 100 billion yuan.
Future investment direction is worthy of attention.
Then, after the new funds arrive, the fund will be opened soon. On the investment side, how to allocate large-scale assets is a problem for A shares, bonds or related targets in overseas capital markets.
After all, judging from the current institutional attitude, near the end of the year, there are indeed many funds that start to restrict purchases. Even if subscriptions are allowed, some of them set the upper limit to 100 yuan. Simply put, it is not convenient for institutions to conduct more market operations at present, especially to deal with the allocation of new funds at the end of the year.
From this point of view, it seems to be contradictory to the current signs of new warming. However, some analysts pointed out that in order to cope with short-term fund settlement and even performance ranking, restricting the purchase of existing products will help achieve this goal; But for the new fund, now is also a good time to lay out the new year's market.
In the case of relatively optimistic economic expectations in 2024, the opportunity of the bond market next year is still concerned by the fund. Industrial Fund believes that 2024 can be judged as the year of "consolidating the foundation and cultivating the yuan". With the cooperation of monetary policy and fiscal policy, the risk-free interest rate center is expected to be difficult to rise, and the bond market as a whole may fluctuate, with many opportunities for flat and steep yield curves and carry trades.
For the equity market, looking forward to the market outlook and approaching the important meeting at the end of the year, it is expected that the follow-up steady growth policy can still be expected, which constitutes an important source of follow-up motivation at the end of the year and the beginning of the year. At the same time, in terms of liquidity, the impact of the previous US dollar index and US bond interest rate on the A-share market has eased, and the RMB exchange rate has continued to appreciate.