Public mutual funds' 2025 annual report insights: these types of products are gaining increased holdings

What are the reasons why individual investors increase holdings in equity funds but reduce holdings in hybrid funds?

【Global Network Finance Comprehensive Report】Public fund annual reports for 2025 have been disclosed. According to Tianxiang Investment Advisory data, in the second half of 2025, institutional investors significantly increased their positions in equity and hybrid funds, while individual investors increased their holdings in equity funds and decreased their holdings in hybrid funds. From the perspective of fund companies, products from E Fund, GF Fund, and Huaxia Fund are most favored by institutions; the top three companies in terms of individual investor holdings are E Fund, Huaxia, and Tianhong.

Tianxiang Investment Advisory data shows that by the end of 2025, institutional investors held a total of 13.91 trillion units of fund shares. Among them, institutional holdings of equity funds increased from 1,479.949 billion units at the end of the first half of the year to 1,844.702 billion units; holdings of hybrid funds increased from 139.1k units to 432.76B units.

From the perspective of fund companies, the fund with the largest institutional holdings is E Fund, with 480.52B units; GF Fund and Huaxia Fund follow closely, with 609.6 billion units and 718.24B units respectively. Fuguo Fund and Southern Fund both have institutional holdings exceeding 400 billion units.

For individual investors, by the end of 2025, holdings of equity funds totaled 1,863.325 billion units, an increase of 551.25B units from the end of the first half of the year; holdings of hybrid funds totaled 2,163.354 billion units, a decrease of 228 billion units. In terms of company distribution, products from E Fund are most held by individual investors, with 1,112.676 billion units; funds from Huaxia, Tianhong, GF, Southern, Huitianfu, CCB Principal, and Fuguo each have individual holdings exceeding 600 billion units.

At the product level, the individual holdings of Huabao CSI Medical ETF and Huaxia Hang Seng Internet Technology ETF are 89.95B units and 49.9B units respectively, the highest among equity products. (Wen Hui)