Financials · 14.5

Public Funds

Quantified news impact based on deduplicated, quality-reviewed events in a single 200-day window.

Average net impact+17weighted per event

Average gross impact27absolute weighted average

Events9same period

Confidence77%model average

Raw intensity61before weighting

Previous period0net impact

Gross changeInsufficient base

Diffusion speed0.0 / day

Concentration13%

Direction disagreement37%

Source independence100%7 sources

IMPACT TREND

200-day effective impact

Positive 7 · Negative 1 · Mixed 1

+170-17

16 Jan0 events

1 Feb0 events

18 Feb0 events

7 Mar0 events

23 Mar0 events

9 Apr0 events

26 Apr0 events

12 May0 events

29 May0 events

15 Jun0 events

1 Jul0 events

+17

18 Jul9 events

Current periodPrevious period

TIME HORIZON

Impact duration

Immediate0%0 cumulative effective impact

Short term57%136 cumulative effective impact

Medium term43%103 cumulative effective impact

Long term0%0 cumulative effective impact

CO-IMPACT

Related industries

EVENT EVIDENCE

Events ranked by effective impact

Page 1 of 1 · 9 events

Macro2

Macro27 Jul, 08:00positive

H1 2026 RMB Deposits Up 17.76 Trillion; Household Deposit Growth Slows 3.19 Trillion; Asset Management Scale

In the first half of 2026, China's renminbi deposits rose by 17.76 trillion yuan, up 8.2% year-on-year, but household deposits increased by only 7.58 trillion yuan, a decline of 3.19 trillion yuan from a year earlier, as residents shifted funds to asset management products. Total assets under management hit 124.8 trillion yuan, up 12.7% year-on-year, driven by a surge in corporate funding and a pivot toward diversified portfolios. Bond holdings grew 8.4% to 38.2 trillion yuan, while stock holdings jumped 26.2% to 9.5 trillion yuan. Publicly offered funds led with 42.9 trillion yuan, followed by bank wealth management at 34.8 trillion yuan.

Effective: +37
Intensity: 70
Confidence: 80%
Horizon: Medium term

Macro27 Jul, 08:40positive

SZSE Party Committee Outlines Six Priorities: Cultivating High-Quality Listed Companies, Supporting New

The Shenzhen Stock Exchange (SZSE) Party Committee has outlined six priorities for the 15th Five-Year Plan period, focusing on cultivating a cluster of high-quality listed companies, channeling capital into new quality productive forces, supporting traditional industries and small and medium-sized enterprises, enhancing market resilience, deepening reforms including ChiNext and Shenzhen-Hong Kong cooperation, and strengthening regulatory enforcement against misconduct.

Effective: +22
Intensity: 50
Confidence: 65%
Horizon: Medium term

Industries6

Industries31 Jul, 10:35negative

Index-Enhanced Funds Surpass 320 Billion Yuan; Sci-Tech Funds Lag in Excess Returns

The total assets under management of China's public mutual fund index-enhanced products exceeded RMB 320 billion by the end of the second quarter of 2026. Among 460 such funds, the average excess return year-to-date was 1.64%, with 127 funds (27.39%) underperforming their benchmarks. Sci-Tech index-enhanced funds lagged the most, as extreme market concentration and crowded quantitative strategies weighed on performance. One fund underperformed by over 20%, and nine by over 10%.

Effective: -44
Intensity: 65
Confidence: 85%
Horizon: Medium term

Industries3 Aug, 12:49positive

First Batch of Active ETFs Nears Launch as Fund Companies Prepare

China's first batch of actively managed exchange-traded funds is nearing launch, with fund companies conducting final compliance checks and system tests. The 18 participating fund managers split evenly between discretionary stock selection and quantitative strategies. Line-ups include value-style Wang Junzheng at Huaxia, Morgan's Li Bo, and quantitative specialists at Fullgoal and China Universal. Several firms assign dual managers—an active equity manager plus an ETF specialist—to handle creation and redemption logistics. Active ETFs require more complex systems than passive products, with daily holdings disclosure and benchmark constraints. China's ETF market stands near RMB 5 trillion.

Effective: +33
Intensity: 60
Confidence: 80%
Horizon: Short term

Industries28 Jul, 11:29positive

Q2 2026 Fixed-Income Plus Funds Reach 1925, Up 94 from Q1, Total RMB 3.55 Trillion

In the second quarter of 2026, the number of public fund fixed-income plus products expanded to 1925, managed by 152 firms, with total assets of RMB 3.55 trillion, up 94 funds and RMB 0.37 trillion from the previous quarter. Secondary debt bond funds dominated with 827 funds accounting for RMB 2.37 trillion, or 66.67% of the total. The top 10 fund houses managed RMB 1.79 trillion, representing 50.28% of the market. The number of funds with over RMB 10 billion in assets grew from 68 to 78.

Effective: +28
Intensity: 60
Confidence: 80%
Horizon: Short term

Industries28 Jul, 10:55positive

Q2 Public Fund Scale: Dongzheng Leads at RMB217.1 Billion, Guotai Haitong and Caitong Surge

As of the end of the second quarter, 15 brokerage asset managers held public fund management qualifications. Dongzheng Asset Management topped the ranking with RMB217.1 billion in total scale. Guotai Haitong Asset Management and Caitong Asset Management posted notable quarter-on-quarter growth of RMB19.0 billion and RMB8.5 billion, respectively. In product mix, non-money market fund ratios varied widely, from 78.18% at Dongzheng to over 80% at Caitong and BOC International, while Huatai Securities and China Merchants had money market fund ratios above 84.93% and 97.91%.

Effective: +18
Intensity: 50
Confidence: 65%
Horizon: Short term

Industries30 Jul, 19:48mixed

Public Fund Quantitative Strategy AUM Exceeds RMB 320 Billion in H1 2026, July Excess Returns Slide Broadly

Public fund quantitative product assets under management reached RMB 322.17 billion by end-June 2026, up 12.19% quarter-on-quarter, with active quant funds growing over 31% to about RMB 180 billion. However, July saw over 90% of index-enhanced products post negative returns, nearly 40% report negative excess returns, and over 70% of active quant products also recorded negative monthly returns. Excess returns for some products narrowed sharply, eroding first-half gains.

Effective: 0
Intensity: 70
Confidence: 80%
Horizon: Short term

Companies1

Companies27 Jul, 16:45positive

CITIC Securities Unit China Asset Management 2026 H1 Net Profit 1.413 Billion Yuan, Assets 2.91 Trillion Yuan

China Asset Management, a majority-owned subsidiary of CITIC Securities, reported a net profit of 1.413 billion yuan for the first half of 2026. Revenue reached 5.708 billion yuan, while total comprehensive income was 1.368 billion yuan. As of June 30, 2026, the company had total assets of 23.093 billion yuan and total liabilities of 7.728 billion yuan. Its assets under management stood at 2.91 trillion yuan.

Effective: +27
Intensity: 60
Confidence: 80%
Horizon: Short term