After the National Day holiday, the public fund issuance market continues to be very active.

In October, nearly 100 funds will queue up for issuance, with 20 new funds making a concentrated debut on the first trading day after the holiday, and as many as 50 on a single day on October 12.

Equity products account for nearly 60%, with index funds and partial-equity hybrid funds serving as the main force, while "balanced" and "value" products have become important directions for public fund layouts, and Beijing Stock Exchange thematic funds, REITs, FOFs and "fixed income plus" products also appearing intensively, showing a multi-point blooming trend.

Industry insiders generally expect that in the fourth quarter, the fund issuance market is likely to remain relatively active, and equity products will still be a key focus for the industry, with major development space in technology innovation, dividend strategies, index investing and multi-asset allocation.

Nearly 100 funds compete after the holiday

Wind data shows that, based on already disclosed issuance announcements, 96 funds will queue up for issuance in October.

On the first trading day after the holiday, October 8, 20 new funds competed on the same stage, and on October 12 the single-day number reached 50.

Among the nearly 100 newly issued funds, equity funds account for the largest share, nearly 60%.

Among them, there are 26 index funds, 25 partial-equity hybrid funds, and 4 ordinary equity funds, including 1 QDII.

In addition, there are 21 FOF products, 14 "fixed income plus" funds, including partial-bond hybrid and secondary bond funds, and 6 REITs.

Among index funds, thematic products dominate.

For example, ChiNext battery ETFs under Yongying, Yinhua, Bosera and HuaAn will be issued on October 8 and 12 respectively.

Also issued in October are popular thematic products such as Dacheng CSI Bank ETF, China Merchants Guozheng Grain Industry ETF, Huabao CSI Photovoltaic Industry ETF, GF CSI Dividend Low Volatility ETF, and Huatai-PineBridge SSE STAR Chip Design Theme ETF.

There are also some broad-based index and index-enhanced products, such as ABC Guozheng Value 100 Index, Huatai-PineBridge CSI 500 Index Enhanced, and Furong CSI 500 Index Quantitative Enhanced.

The Guotai CSI Hong Kong Stock Connect Composite Index Enhanced managed by Liang Xing and Wu Zhonghao will be issued on October 8.

As market volatility intensifies, among newly issued active equity funds, "balanced" and "value" products have become important directions for public fund layouts.

For example, Ping An Balanced Select, Ping An Zhiyuan Value, China AMC Value Discovery and Zhong Ou Balanced Growth are all scheduled for October issuance.

A channel source in Shanghai said that after intensified volatility, some investors have reduced acceptance of high-volatility sector products and clearly increased preference for "low volatility plus steady return" products, with "balanced" and "value" products gaining more attention.

The excess returns of balanced products come from more dispersed sources, and the explainability of drawdown control is stronger.

This characteristic of "not betting on a single sector" exactly matches current investors' psychological need to seek stability.

Among the newly issued products in October, there are also products managed by several well-known fund managers.

For example, Quanguo New Energy Opportunities will begin sales on October 12, the first new fund launched by Zhao Yi after he was promoted to deputy general manager of Quanguo Fund on September 22, 2026.

Zhong Ou Balanced Growth managed by Liu Shiqing was also issued on October 8.

In October, Beijing Stock Exchange thematic funds will see a round of intensive issuance.

Among them, Fullgoal Beijing Stock Exchange Select 3-Month Holding Period Mixed will raise funds from October 8 to October 21, becoming the earliest Beijing Stock Exchange 3-month holding period fund to start issuance after the holiday, with Industrial and Commercial Bank of China as custodian.

It is followed by products under China Universal, Southern, Harvest and China AMC, all starting fundraising on October 12.

In terms of product design, the upper limit for fundraising size of the above products is 500 million yuan each.

If subscription amounts exceed the fundraising upper limit, fund companies will use the end-of-period proportional confirmation method to control scale.

The REITs market is also welcoming a round of concentrated issuance.

GF Xincheng Wuyue Commercial REIT, Yinhua Guangdong Holdings Water Conservancy REIT, Ping An Xi'an Hi-Tech Industrial Park REIT, Huatai Huazhu Anzhu REIT, Great Wall Huaneng Coal-Fired Power REIT and Guojin Jiazhe New Energy REIT will be issued successively after the holiday.

Fund issuance market expected to remain relatively active

Industry insiders said that looking ahead to the fourth quarter, the fund issuance market is expected to remain relatively active.

From the perspective of industry development direction, regulators have continuously emphasized vigorously developing equity funds and equity-containing products in recent years and guiding medium- and long-term funds into the market, which points the way for future product layouts of public funds.

A large fund company in Beijing said it expects equity products to remain a key area of industry effort.

Among them, thematic products around national strategic directions such as technology innovation, new quality productive forces, high-end manufacturing, artificial intelligence and self-reliance and controllability are expected to continue attracting attention.

At the same time, dividend strategies, value investing and broad-based index products still have strong allocation demand, and the trend of index investing is expected to deepen further.

In addition, against the background of a sustained low interest rate environment, "fixed income plus" products, partial-bond hybrid FOFs and multi-asset allocation products that balance steadiness and return elasticity still have considerable development space.

In the future, fund companies may pay more attention to providing investors with product solutions featuring more balanced risk-return characteristics through asset allocation capabilities and investment research capabilities.

A medium-sized fund company in Shanghai said it expects overall issuance enthusiasm to continue, equity products may remain the market mainstream, demand for low-volatility steady products will remain strong in a low interest rate environment, and the space for residents to replace wealth management has not yet been fully met.

Three major directions deserve key attention.

First, the technology growth sector, where AI, semiconductors and new energy may remain key focuses for fund companies, and as the market shifts toward earnings realization, deep layouts in sub-sectors are expected to accelerate.

Second, low-volatility "fixed income plus" and diversified allocation strategies, where managers are expected to continue increasing such products and may adopt global diversified allocation by introducing low-correlation assets such as QDII, REITs and gold in order to reduce volatility.

Third, quantitative products continue to expand, and their discipline, strategy stability and long-term historical returns are gaining recognition from more and more investors, with issuance enthusiasm for quantitative products expected to remain high.