The total size of China's public funds exceeded 38 trillion yuan for the first time, with money market funds and bond funds being the main drivers of growth.

On March 25, the latest data released by the China Securities Investment Fund Industry Association showed that by the end of February, the total size of public funds in China had reached 38.61 trillion yuan, exceeding 38 trillion yuan for the first time and hitting a historical high for the 11th consecutive month. Breaking it down by type, in February, the size of money market funds increased by 579.11 billion yuan, making the largest contribution to the total increase. In addition, the size of bond funds increased by 216.34 billion yuan, mixed funds by 93.41 billion yuan, and FOF and QDII also saw a slight increase in size, while the size of stock funds decreased by 79.35 billion yuan. Some fund managers pointed out that the growth in fund size is due to the continuation of the trend of "moving deposits." In a low interest rate environment, the attractiveness of traditional savings is diminishing, leading to a structural reshaping of household wealth allocation - a shift from "saving in banks" to "investing in funds." Money market funds, with their dual advantages of liquidity and safety, have become the main force in receiving the transfer of deposits; bond funds, FOF, and other stable products have also benefited from this trend. This trend not only drives the continuous increase in the size of public funds, but also reflects the awakening of residents' financial awareness and the optimization of asset allocation structures.