On February 26th, 13 funds including ICBC Tianyue, Guangfa Growth Selection, and Huashang Core Selection all opened for subscription on the same day. And in the following period from February 27th to the end of March, there are still 50 new funds "ready to go" and will soon start subscribing, becoming new incremental funds entering the market. From the situation since the beginning of this year, as of February 26th, the number of newly established funds has reached 228, with a total issuance of over 210 billion shares, a significant year-on-year increase. In the eyes of industry insiders, the hot market for fund issuance at the beginning of the year is closely related to the impressive performance of equity funds last year. Looking ahead to the future, there are still strong supporting factors in the A-share market, and the optimistic trend may continue to unfold. In the first two months of this year, the fund issuance market showed a thriving trend. According to Wind data, using the establishment date of funds as the statistical standard, as of February 26, the number of newly established funds since 2026 has reached 228, with a total of 210.259 billion issued shares. From historical data, in the first two months of 2025, there were a total of 162 newly established funds with a total issuance of 149.05 billion shares. Based on this calculation, the number and shares of newly issued funds in the first two months of this year increased by over 40% year-on-year. In terms of issuance structure, compared to the previous two years when bond funds continued to rank high in issuance, the performance of equity products (including stock and hybrid) at the beginning of this year can be described as outstanding. Data shows that in 2024 and 2025, the proportion of bond funds issued was 70.19% and 40.99% respectively, until it dropped to 15.92% at the beginning of this year. The proportion of issued shares of hybrid funds has increased from 5.91% and 13.63% in 2024 and 2025 to 37.87% at the beginning of this year. In addition, since the beginning of the year, the issuance of mixed funds has reached 79.623 billion shares, surpassing the annual issuance level of 69.92 billion shares in 2024. The issuance proportion of stock funds is generally maintained at around 30%. Regarding the phenomenon of hot issuance of equity products this year, Yang Delong, Chief Economist of Qianhai Open Source Fund, stated that this is a direct result of the strengthening of the equity market. The performance of equity funds in 2025 is generally good, and investors' investment demand for equity funds has increased. About 50 trillion yuan of fixed deposits will mature this year, and some of them may enter the market through buying funds, becoming incremental funds in the capital market. In addition, fund companies also hope to increase the proportion of their equity products through issuing more equity funds to better meet market demand. "A set of data shows the impressive performance of equity funds in 2025. In terms of active equity funds, according to Wind statistics, in 2025, out of 4713 active equity products in the market, 4240 had positive annual performance, accounting for nearly 90%. The net value of 75 active equity funds, such as Yongying Science and Technology Smart Selection, AVIC Opportunity Pilot, laterite innovative emerging industries, doubled; There are a total of 795 products with a net asset return rate of over 50%. In terms of passive index funds, the proportion of funds with positive annual performance in 2025 has reached over 96%, and the net value of 13 index funds has doubled. Since 2026, the overall A-share market has shown a fluctuating upward trend. How will the A-share market perform after the Spring Festival? Institutional insiders generally believe that the A-share market is expected to receive multiple supporting factors, or continue the optimistic trend. Looking ahead to the Chinese economy and industry in 2026, there are several core variables that may be entering critical turning points. Once these turning points are identified, they will have a very positive impact on the capital market. ”Zhang Lin, manager of the China Merchants Technology Innovation Hybrid Fund, stated that investment opportunities in 2026 will be more diverse compared to 2025, presenting a dual driven pattern of macroeconomic cycles and technological innovation. The global manufacturing cycle is expected to resonate, effectively supporting domestic exports, and upstream commodity prices are prone to rise but difficult to fall. Due to the development laws of the industry itself or policy promotion, related industries are gradually emerging from the "internal competition" dilemma, and the market competition mode will change. Product prices will gradually bottom out, and the expectation of enterprise profit recovery will strengthen. The corresponding investment opportunities in the secondary market are also increasing. Looking ahead to the future, in terms of macro timing, we continue to have a positive outlook on the A-share equity market. ”Zeng Hao, General Manager of the Equity Investment Department of Boshi Fund, stated that for the whole year, it is highly likely that the Federal Reserve will continue to cut interest rates in 2026. The trend of the domestic technology industry is upward, PPI is expected to return to positive year-on-year, and coupled with expectations of RMB exchange rate appreciation, it is expected to jointly form strong support for A-shares, and A-shares are expected to continue the optimistic market trend in the Year of the Horse. At the same time, in 2026, as the market gradually shifts from liquidity driven to profit driven, a single growth or value style may not continue to dominate, and the market mainline may rotate rapidly. Xingye Securities believes that the pre holiday A-share market has released certain risks following the adjustment of overseas assets, and the post holiday A-share market is about to enter a high win rate window. In addition, the intensive catalysis at the macro and industrial levels in China has formed guidance on the structure, and we continue to be optimistic that A-shares will usher in a new round of upward trend after the Spring Festival. China Galaxy has put forward three main themes to focus on after the Spring Festival. In the opinion of the institution, under the influence of policy expectations, liquidity support, and industry trends, there is a high probability of market volatility and upward movement. At the same time, it is necessary to closely monitor the short-term disturbance of market sentiment caused by overseas uncertainty. Before and after the Two Sessions, the A-share market may be driven by policy catalysis as the core driving force, with funds playing around the policy oriented industry mainline and thematic opportunities, presenting the characteristics of "policy hotspots rotating and styles rapidly switching". The market logic in March will gradually shift from "policy expectations" to "performance realization". The disclosure of the 2025 annual report and the subsequent 2026 first quarter report of listed companies will become market anchors, and targets with performance exceeding expectations may receive funding focus. (New Society)