In July, new fund raising exceeded 100 billion again, and the issuance of equity funds will warm up

In July, influenced by the reform of floating interest rates and other factors, investors' enthusiasm for subscribing to newly issued public funds continued to rise. According to Wind data, as of July 31, 135 newly issued funds raised a total of 104.868 billion yuan, ranking second in monthly fundraising scale for newly issued funds this year, and marking the third month this year with fundraising exceeding 100 billion yuan, following March and June, which raised 104.078 billion yuan and 124.803 billion yuan, respectively. The fund issuance in July can be summarized as "structural differentiation and innovation leadership," with both bond and equity funds driving growth, while science and technology innovation bond ETFs and ESG themes became the growth engines. Several products achieved "lightning" fundraising, reflecting institutional investors' recognition of the value of bond asset allocation and indicating a stabilization in the equity market. With the implementation of policies to stabilize the stock market and corporate profits rebounding from the bottom, it is expected that the issuance of equity funds will further warm up