B[The construction of the "long-term money and long-term investment" market ecology continues to advance, and medium- and long-term funds are structurally increased in the third quarter] October 28th, data showed that as of press time on October 27th, the disclosure rate of A-share third quarter reports was approximately 41.76%. Judging from the data of the current three quarterly reports, the characteristics of medium and long-term capital structural increase are outstanding: the number of new and increased holdings of social security funds exceeds the number of reductions; basic pension insurance funds have bucked the trend and deployed electronic sectors; corporate annuities, which are in the transition period of long-term assessment and rectification, have maintained a very low turnover rate and their overall positions have tended to be stable; public funds have appeared in the list of the top ten circulating shareholders of 1,590 stocks, of which 141 have increased their holdings and 22 have newly entered. What is even more noteworthy is that currently, benefiting from the continued advancement of policy-side reforms, long-term money entry channels are accelerating beyond the single transaction model of the secondary market, extending to diversified paths such as private placement, strategic placement, public REITs (real estate investment trust funds), and pension products. (Securities Daily) B[Nuggets segment leader, latest positions of long-term funds exposed] October 20th, according to incomplete statistics, as of October 19, among the A-share companies that have disclosed their third quarterly reports for 2026, a total of 42 companies have long-term funds such as social security funds, pension funds, and QFI among the top ten shareholders of tradable shares. From the perspective of layout logic, in the volatile market situation since the third quarter of this year, long-term funds have paid more attention to the fundamentals of listed companies. They favor segment leaders with outstanding performance, value corporate profitability resilience, and at the same time actively explore small and medium-sized market capitalization targets. (Shanghai Securities News) B[The first batch of 22 publicly offered “fixed income+” products were included in the directory of personal pension products] On September 28, personal pension products were officially enriched into the “fixed income+” category. 22 fund managers including E Fund, China Southern, China Europe, China Merchants, China Asset Management, China Universal, Tianhong, Huaan, GF, Penghua, Everwin, and Orient Securities Asset Management also announced that starting from September 29, they will add Y-type fund shares to some of their partial debt hybrid products or secondary debt bases, of which 10 will be partial debt hybrid funds and 12 will be secondary debt bases. This is another important expansion of the list of personal pension funds after pension target FOF and index funds. From the perspective of product pedigree, "fixed income +" products are based on bond assets and enhanced with equity assets. The risk-return characteristics are between stable and aggressive. It just fills the gap between pension FOF and index funds. It means that pension investors who pursue stable returns have a new choice that is more suitable for their needs, and the risk-return gradient of personal pension investment is thus smoother and more complete. Previously, according to the "Notice on the Incorporation of Rights-Containing Secondary Debt Bases and Partial Debt Hybrid Funds into the Directory of Personal Pension Fund Products", rights-containing secondary debt bases and partial debt hybrid funds were officially included in the directory of personal pension fund products. (Reporter Zhou Xiaoya)
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