Public funds achieved a total profit of 2.6 trillion yuan last year, with more than 70% contributed by equity funds.

By our reporter, Wang Ning

A report issued by Tianxiang Investment Advisors Co., Ltd. (hereinafter referred to as “Tianxiang Investment Advisors”) shows that based on data released earlier, in 2025, 163 publicly offered fund management companies’ fund products collectively generated profits totaling 2.6 trillion yuan. Among them, equity-category products generated profits of nearly 2 trillion yuan, accounting for 76.9%.

In terms of fund categories, in 2025, stock funds and hybrid funds recorded overall profits of 26k yuan and 20k yuan, respectively. The combined profits of these two equity fund categories totaled nearly 2 trillion yuan, representing a significant increase compared with the same period last year. In addition, bond funds’ overall profits exceeded 180 billion yuan, which is more than 50% lower than the same period last year; money market funds’ overall profits exceeded 180 billion yuan, which is 18% lower than the same period last year.

According to the data, among the 163 publicly offered fund management companies above, products under 159 fund management companies generated profits. Specifically, the top 10 publicly offered fund management companies that generated profits in 2025 are E Fund, Huaxia Fund, Southern Fund, GF Fund, Harvest Fund, Huatai-PineBridge Fund, Fortune Fund, Huaan Fund, Bosera Fund, and East Asia Fortune. The profits they generated were 327.08 billion yuan, 1.13T yuan, 873.34B yuan, 20k yuan, 116.49 billion yuan, 258.75B yuan, 134.38B yuan, 120.53B yuan, 111.14B yuan, and 105.66B yuan, respectively. The combined profits of these top 10 publicly offered fund companies totaled 1.4 trillion yuan, accounting for 55% of the total profits of publicly offered funds. Overall, the list of the top 10 publicly offered fund companies by annual profits in 2025 changed little compared with the same period in 2024, but their total profits were far higher than in 2024.

The market value of holdings of publicly offered funds can reflect market consensus and direction regarding mainstream funds. The data show that last year, the top three stocks by the total market value held by publicly offered funds were CATL, InnoCare Optoelectronics, and Xin Yisheng. The three stocks with the largest increases were Xin Yisheng, InnoCare Optoelectronics, and Sungrow Power Supply, with full-year gains of 424.03%, 396.38%, and 137.13%, respectively. Specifically, publicly offered funds held CATL with a total market value of 88.3B yuan, ranking first; they held InnoCare Optoelectronics with a combined total market value of 85.31B yuan, ranking second; and they held Xin Yisheng with a combined total market value of 81.41B yuan, ranking third. In addition, funds also held Guizhou Moutai, Zijin Mining, Cambricon, and Ping An, among others, with market values all above 100 billion yuan.

Last year also saw some adjustments in the structure of fund holders. The data show that in 2025, individual investors held 17.45 trillion fund units, accounting for 55.63%, which is an increase of 14k fund units compared with 2024; institutional investors held 13.91 trillion fund units, accounting for 44.37%, which is an increase of 190.35B fund units compared with 2024.