On August 4th, 37 new funds are launching this week, involving 27 fund companies including China Asset Management, E Fund Management, GF Fund Management, Southern Fund, Harvest Fund, Fuguo Fund, China Europe Asset Management, Tianhong Fund, China Merchants Fund, ICBC Credit Suisse, Industrial Fund, Hua Bao Fund, Ever-growing Fund, Sinolink Securities, J.P. Morgan Asset Management, Haitong Asset Management, and others.

Notable launches include Everbright Prudential (A: 024788.OF C: 024789.OF) and China Asset Management (A: 024912.OF C: 024913.OF) simultaneously launching products tracking the "CSI General Aviation Industry Index," capitalizing on low-altitude economy policy benefits. Ever-growing Fund is issuing the SSE STAR Market AI Index Fund (A: 024776.OF C: 024775.OF E: 024776.OF), the first index product focusing on the "STAR Market AI" subdivision. In robotics: Harvest Fund (A: 024619.OF C: 024620.OF) is launching the CSI Robotics ETF Feeder Fund, managed by Tian Guangyuan. Three leading public fund companies - Bosera (159287.OF managed by Wan Qiong), Hua Bao (159292.OF), and China Merchants (159291.OF) - are rarely launching ETFs tracking the ChiNext Composite Index simultaneously. Tang Bolun manages E Fund Value Return, Liu Shiqing manages China Europe Core Value; En Xuehai and Wu Chunjie jointly manage J.P. Morgan Yingyuan Steady Three-Month Hold (A: 024695.OF C: 024696).

From a product type perspective, there are 20 equity funds, 8 bond funds, 7 hybrid funds, and 2 FOF funds.

From fund management companies' perspective, this week China Asset Management and Ever-growing Fund are launching 4 products each, China Europe Fund is launching 3 products, while Bosera Fund and Hua Bao Fund are launching 2 products each. E Fund Management, Southern Fund, Fuguo Fund, GF Fund Management, China Merchants Fund, Harvest Fund, ICBC Credit Suisse, Tianhong Fund, CCB Trust, Everbright Prudential, Sinolink Securities, Industrial Fund, Baijia Fund, Dongxing Securities, Guolian Securities, Haitong Asset Management, Bank of Communications Schroder, J.P. Morgan Fund, Rongtong Fund, Taikang Asset Management, Xinyuan, and CITIC-Prudential Fund - these 22 fund companies are each launching 1 product.

**Equity Products: Covering ChiNext, General Aviation, Medicine, Robotics and Other Hot Sectors**

This week the market is issuing 20 equity funds, covering 13 fund companies. Focusing on thematic sectors, STAR Market and broad-based indices have become core deployment areas, with high-end manufacturing and technology, STAR Market deepening deployment, and ChiNext and Hong Kong stock dividends becoming new focal points. Product structure shows the following characteristics: pure ETF products reach 7, with feeder funds and index-enhanced types at 13. Non-ETF products all have a 1 yuan subscription threshold, while ETFs uniformly require 1,000 yuan. 6 funds target STAR Market indices, setting a new weekly high.

Three major sectors lead, focusing on high-end manufacturing and technology themes. In general aviation, Everbright Prudential (A: 024788.OF C: 024789.OF) and China Asset Management (A: 024912.OF C: 024913.OF) simultaneously launch products tracking the "CSI General Aviation Industry Index," seizing low-altitude economy policy benefits. In artificial intelligence, Ever-growing Fund issues the SSE STAR Market AI Index Fund (A: 024776.OF C: 024775.OF E: 024776.OF), the first index product focusing on the "STAR Market AI" subdivision. In robotics: Harvest Fund (A: 024619.OF C: 024620.OF) deploys CSI Robotics ETF Feeder Fund, managed by Tian Guangyuan. STAR Market deepening deployment theme sees China Asset Management (A: 024879.OF C: 024880.OF) launching SSE STAR Market Composite Index Enhanced Fund, while Ever-growing Fund increases AI index exposure, reflecting institutions' exploration of STAR Market structural opportunities. Resources and medical sectors show prominent defensive attributes. GF Resources (A: 023834.OF C: 023835.OF) and Taikang Resources Selection (A: 024895.OF C: 024896.OF) target resource themes; CCB Medical Innovation (A: 025068.OF C: 025067.OF) links to pharmaceutical and health indices, highlighting risk-aversion demand.

Under broad-based indices, ChiNext and Hong Kong stock dividends become new focal points. ChiNext Composite Index funds: Bosera (159287.OF managed by Wan Qiong), Hua Bao (159292.OF), and China Merchants (159291.OF) - three leading public fund companies rarely issue ETFs tracking this index simultaneously, breaking the monopoly pattern of ChiNext Index/CN50, covering broader small and medium innovative enterprises. Hong Kong high-dividend strategy: Tianhong (159281.OF) and Ever-growing (A: 023534.OF C: 023535.OF) respectively issue CSI Hong Kong Stock Connect Central SOE Dividend ETF and index funds, targeting Hong Kong stocks' undervalued dividend defensive attributes. Featured broad-based supplements: China Asset Management launches "SSE 580 ETF" (530533.OF), managed by Li Jun; Sinolink Securities Fund (A: 024313.OF C: 024314.OF) deploys CSI 300 Index Enhanced, managed by Deng Mo and Ai Dingfei.

From fund management companies' perspective, China Asset Management has the most aggressive deployment, simultaneously covering general aviation, STAR Market composite index, and SSE 580 three main lines. Ever-growing Fund bets on STAR Market AI and Hong Kong stock dividends, with distinct differentiated positioning. Hua Bao Fund balances ChiNext Composite Enhanced Strategy ETF (159292.OF) and CSI Pharmaceutical Feeder (A: 024985.OF C: 024986.OF), expanding diversified tools.

Data source: Wind Fund Announcements Statistical period: August 4, 2025 - August 8, 2025

**Hybrid Products: "Veteran-Mid-New" Fund Managers Leading with "Equity-Bond Mix + Hong Kong Stock Opportunities" Strategy**

The 7 funds debuting this week (such as Baijia Technology Innovation A, Dongxing Industry Upgrade A, Southern Multi-Value, etc.) all have performance benchmarks including significant equity exposure (50%-80%), while combining bonds and Hong Kong stock indices, strictly positioned as equity-biased hybrid or flexible allocation funds, emphasizing "equity-bond mix + Hong Kong stock opportunities" strategy. This aligns with current market environment's demand for yield enhancement. This week's hybrid fund issuance is mainly led by strong large public fund companies, such as China Europe Fund with 3 funds, E Fund Management and Southern Fund with 1 each, plus specialized small companies Dongxing Fund and Baijia Fund. China Europe Fund's product line covers chemical industry, full-market stock selection (smart selection, value) and other multi-strategies, with the most aggressive deployment.

Fund manager teams show "solo combat + dual collaboration" model. China Europe Core Smart Selection A is jointly managed by Zhang Cong and Song Ting, potentially improving portfolio management efficiency through complementary capabilities; the remaining 6 products are all managed by single fund managers, such as Gan Zongwei managing Dongxing Industry Upgrade A, Tang Bolun managing E Fund Value Return, Liu Shiqing managing China Europe Core Value, Chen Heming managing Baijia Technology Innovation, who need to independently handle cross-market allocation challenges.

Data source: Wind Fund Announcements Statistical period: August 4, 2025 - August 8, 2025

**Bond Products: Focusing on "Holding Period" Strategy with Strengthened Wealth Management Substitute Attributes, Three Generations of Fund Managers Gathering**

Among the 8 new bond funds issued this week, 7 are holding period products with lock-up periods ranging from 30 days to 6 months, with two major trends emerging: 60-day holding period products reach 3 (Fuguo, Guolian, ICBC), matching short-term allocation needs of wealth management funds. Asset expansion sees China Asset Management (024296.OF) and Industrial (023811.OF) products containing 3%-10% equity positions (linked to CSI 300/Hong Kong Stock Connect), attempting lightweight "fixed income+" strategies. CITIC-Prudential (023664.OF) focuses on government bonds (treasury + policy financial bonds), being the only pure government bond fund.

From fund managers' perspective, veterans with over 5 years of experience account for 75%. Zhou Ming has 15.50 years of investment management experience, currently managing 7 funds with total assets under management of 44.7 billion yuan. His tenure managing debt-biased products has generated total returns of 110.54%, far exceeding the performance of CSI Composite Bond Index over the same period. Tan Yunfei has 11.02 years of investment management experience, managing 7 funds with total assets under management of 17.696 billion yuan. His past management of debt-biased products generated total returns of 47.98%, underperforming the CSI Composite Bond Index over the same period. His past management of equity-biased products generated total returns of 47.33%, outperforming the CSI 300 Index over the same period. Ni Yujuan has 7.40 years of investment management experience, currently managing 11 funds with total assets under management of 97.213 billion yuan. Her past management of debt-biased products generated total returns of 28.32%, underperforming the CSI Composite Bond Index over the same period, but her management of Bosera Furui Pure Bond A achieved tenure returns of 35.04%, ranking first among 40 short-term pure bond products. Mid-generation fund managers include "Liu Aimin" and "Yang Mubin," while new-generation managers include Wu Fan from China Asset Management and Gu Qingchun from ICBC Credit Suisse.

Data source: Wind Fund Announcements Statistical period: August 4, 2025 - August 8, 2025

**2 FOF Funds: Both Centered on China Bond Index with Multi-Asset Allocation as New Issuance Theme**

This week also sees two FOF products launched, both emphasizing "steady multi-asset" strategies, reflecting institutions' tendency to seek steady returns through diversified allocation in volatile markets. Among them, J.P. Morgan Yingyuan Steady Three-Month Hold (A: 024695.OF C: 024696) and Ever-growing Yuanying Steady Multi-Asset 90-Day Hold (A: 508060.OF C: 025045) are issued, with only Ever-growing Yuanying Steady Multi-Asset 90-Day Hold having a 1-day subscription period and 10 yuan subscription threshold. Both products are centered on China bond indices (70%-80% allocation), overlaid with equity, gold and overseas assets, positioned as medium-low risk.

Data source: Wind Fund Announcements Statistical period: August 4, 2025 - August 8, 2025

J.P. Morgan Fund adopts dual-manager system: jointly managed by En Xuehai and Wu Chunjie, continuing the "macro + micro" dual-collaboration model in the FOF field, with division of labor covering asset allocation and sub-fund selection.

Ever-growing Fund's Duan Weiliang has 9 years of securities-related work experience. He previously served as financial engineering analyst at CITIC Securities Company Limited and co-chief financial engineering analyst at Guo Sheng Securities Co., Ltd. He joined Ever-growing Fund Management Co., Ltd. in 2023.

**Risk Warning**: Funds carry risks, investment requires caution. The opinions and comments provided in this article are for reference only and do not constitute any operational advice or recommendations for the mentioned securities. All consequences resulting from investment or actions based on relevant information in this material are borne by the investor. Past performance of fund managers does not represent a prediction or forecast of future product performance.