China Securities Firms' Private Fund Placements Surge 96.9% YoY in June 2026

Data from the Asset Management Association of China show that in June, securities and futures institutions filed over 3,000 private asset management products, double the number a year earlier, with a placement scale of RMB107.789 billion, up 96.9% year on year. Among them, securities companies and their asset management subsidiaries filed 2,354 products with a placement scale of RMB78.792 billion, accounting for 73.1%; securities companies' private subsidiaries filed 19 products with a placement scale of RMB1.272 billion, accounting for 1.18%. The combined placement scale of the two was RMB80.064 billion, representing 74% of the total.

As of the end of June, the total scale of private asset management products of securities and futures institutions stood at RMB13.13 trillion (excluding social security funds and enterprise annuities), up 0.27% month on month. Among them, the outstanding scale of private asset management products of securities companies and their asset management subsidiaries was RMB6.47 trillion, and that of securities companies' private subsidiaries was RMB0.69 trillion.

By product investment type, fixed-income products accounted for more than 80% of the total scale of securities firms' private asset management. In the past three months, mixed products issued by securities firms' private asset management have risen notably, bond-type and alternative investment products have increased slightly, while equity-type products declined after a sharp rise in May. The industry-wide outstanding scale of mixed products has grown from RMB1.66 trillion at the end of 2025 to RMB2.38 trillion. Among newly filed products in June, fixed-income products accounted for 43.11% of the scale, and mixed products 40.76%; equity and futures derivatives products accounted for about 16% of newly filed scale, compared with a range of 30% to 40% in March and April 2026.

As of the end of June 2026, the average scale of private asset management products managed by securities companies and their asset management subsidiaries was RMB67.404 billion, with a median scale of RMB25.345 billion. Seven brokerages and asset management subsidiaries had outstanding scale above 2000 hundred million yuan (i. e. , RMB200 billion), and 25 had scale between RMB50 billion and RMB200 billion. By net asset value of products, the top ten securities firms were CITIC Securities Asset Management, CSC Financial, Guojin Asset Management, Huaan Asset Management, Caitong Securities Asset Management, Orient Securities Asset Management, Tianfeng Asset Management, Galaxy Jinhui, China Post Securities, and Guohai Securities. In addition, institutions such as Shougang Securities, Century Securities, Huafu Asset Management, and Caida Securities ranked among the industry leaders in cumulative number of products issued.