First week of March sees the issuance of 43 new funds: Invesco Great Wall and E Fund lead the way, with 4 Hong Kong Stock Connect themed products launched simultaneously.

After the Spring Festival, the issuance of public mutual funds has shown a continuous warming trend. According to Public Fund Data Platform, this week (March 2 to March 8, 2026), a total of 43 new public funds are planned to be issued in the market, up 19.44% from 36 the previous week. As a result, the number of waiting new public funds has increased for two consecutive weeks, reflecting a renewed active trend in the public fund issuance market after the Spring Festival.

Li Chunyu, Fund Manager of Rongzhi Investment FOF under RQ Fund Group: The market for public fund issuance has become active again after the Spring Festival in 2026, mainly due to the following reasons: First, support from liquidity. In 2025, the performance of equity funds was good, strengthening market confidence in a slow bull market for A-shares; at the same time, a large amount of fixed deposits matured during the year. In a low-interest-rate environment, savings funds are more willing to enter the stock market through public funds. Second, changes in supply and demand structure. Fund companies are increasing their layout of equity products, with both passive ETFs and actively managed funds growing simultaneously to meet investors’ increasingly diverse allocation needs. The trend of residents shifting assets to standardized financial assets is accelerating, coupled with improved market efficiency, making low-cost index products more attractive, jointly promoting the optimization of issuance structure. Third, macro expectations are positive. The economy is gradually stabilizing, corporate profits are improving, and the potential global interest rate cut cycle further boosts market sentiment, creating a positive environment for fund issuance.

Equity funds remain the main force of issuance. Data from Public Fund Data Platform shows that among the 43 new funds waiting to be issued this week, 25 are equity funds, accounting for 58.14% of the total. Among them, 17 are stock funds and 8 are hybrid funds with a bias toward stocks.

In stock funds, passive index funds dominate. Of the 17 new stock funds waiting to be issued this week, 13 are passive index funds, accounting for 76.47% of the total new stock funds. Among them, four funds include the term “CSI Hong Kong Stock Connect” in their names: “PICC CSI Hong Kong Stock Connect Internet Index A,” “ICBC Credit Suisse CSI Hong Kong Stock Connect Internet ETF,” “Southern CSI Hong Kong Stock Connect Automotive Industry Theme ETF,” and “Industrial Securities CSI Hong Kong Stock Connect Internet ETF.” This indicates that public funds are actively using ETFs as tools to allocate to core sectors of Hong Kong stocks at their valuation lows.

The number of FOF funds issued this week has increased significantly. There are nine new FOF funds waiting to be issued, reaching a near five-week high and the second-highest weekly issuance in the past two years. Against the backdrop of fixed deposits maturing in large quantities and savings funds shifting to the capital market, FOFs, as “one-stop” asset allocation tools, are meeting investors’ demand for long-term stable returns.

This week, the 43 new funds waiting to be issued come from 35 public fund institutions. Among them, 29 institutions each have one new fund, while the remaining six institutions have issued two or more funds. Invesco Great Wall Fund and E Fund each have three new funds waiting to be issued, ranking at the top. Invesco Great Wall mainly focuses on FOF products, including “Invesco Great Wall Hexi Rui An Three-Month Holding Hybrid (FOF) A” and “Invesco Great Wall Hexi An Yu Three-Month Holding Hybrid (FOF) A.” E Fund mainly focuses on stock funds, including the ordinary stock fund “E Fund Research Intelligence Select Stock A” and the enhanced index fund “E Fund CSI Hong Kong Stock Connect Comprehensive Quantitative Enhanced A.” Additionally, Guotai Haitong Asset Management, Southern Fund, Puyin Ansheng Fund, and PICC Asset Management each have two new funds waiting to be issued this week.

(Public Fund Data Platform)

(Edited by: Xu Nannan)

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