Public Fund Industry Posts Record RMB1.73 Trillion Profit in H1 2026
China's public fund industry reported a combined profit of RMB1.73 trillion in the first half of 2026, up 172.27% year on year and the best half-year result on record. The top 10 fund houses contributed 51% of total profits, with E Fund leading at RMB222.5 billion. Technology-focused ETFs were the main profit drivers, while bond funds added RMB207 billion. QDII and commodity funds posted losses.
In the first half of 2026, the public fund industry generated a combined profit of RMB1.73 trillion, a record for any half-year period and a year-on-year increase of 172.27%. Most fund managers reported higher profits than a year earlier, with 16 adding more than RMB10 billion each. The top 10 fund houses together earned RMB884.283 billion, accounting for 51% of the industry total.
E Fund topped the ranking with RMB222.498 billion in profit, followed by China Asset Management (China AMC) with RMB155.826 billion, both reaching the hundred-billion level. Harvest Fund, Southern Fund and GF Fund each earned more than RMB80 billion, while China Universal Fund exceeded RMB60 billion and Huashang Fund surpassed RMB50 billion.
Ranked third to tenth were Harvest Fund, Southern Fund, GF Fund, China Universal Fund, Huashang Fund, Guotai Fund, Invesco Great Wall Fund and Yongying Fund. Harvest's profit rose by RMB74.875 billion, lifting it five places to third. Huashang's profit surged 712.04%, climbing 18 spots. Yongying's profit increased by RMB36.882 billion, moving up 16 places. Caitong Fund turned profitable with RMB28.756 billion in profit, a 296-fold jump. Guolianan Fund earned RMB22.819 billion, rising 20 places to 19th, while Orient Fund's profit grew by RMB18.916 billion, climbing 31 spots to 21st.
At the product level, 14 funds each generated more than RMB10 billion in profit, and 49 funds exceeded RMB5 billion. Technology ETFs tracking the STAR Market, semiconductors, chips and artificial intelligence were the main profit contributors. China AMC's STAR 50 ETF and Harvest's STAR Chip ETF led with profits of RMB35.566 billion and RMB34.489 billion, respectively. E Fund's STAR 50 ETF, Southern CSI 500 ETF and Guotai CSI Semiconductor Materials & Equipment Theme ETF each earned over RMB20 billion. Huatai-PineBridge CSI 300 ETF, China AMC's Guozheng Semiconductor Chip ETF, E Fund's ChiNext ETF, Yongying Pioneer Semiconductor Select Hybrid Launch C, Guolianan CSI All-Share Semiconductor ETF, Orient AI Theme Hybrid C, Guotai CSI All-Share Communication Equipment ETF, E Fund CSI 300 ETF Launch and China AMC's STAR Semiconductor Materials & Equipment Theme ETF each exceeded RMB10 billion in profit.
Only two actively managed equity funds made the list: Yongying Pioneer Semiconductor Select Hybrid and Orient AI Theme Hybrid, with profits of RMB15.177 billion and RMB14.466 billion, respectively.
By product type, equity funds totaled 15,400 and generated RMB1.51 trillion in profit, accounting for 87% of the total. Hybrid funds contributed RMB911.717 billion, up 452.29% year on year, while stock funds earned RMB596.876 billion, up 252.43%. Bond funds, numbering 7,602, added RMB207.008 billion, up 116.77%. Money market products, 960 in total, earned RMB88.957 billion, down 6.8%. FOF products, 1,151 in number, generated RMB12.421 billion, up 185.47%. QDII and commodity funds both posted losses in the first half, with 575 QDII products losing RMB17.633 billion and 63 commodity funds losing RMB68.924 billion.