China Mutual Funds: 82 New Launches Last Week, Performance Gap Widens

The record pace of fund launches signals intense product competition, but the real story is the widening dispersion in returns—a sign that fund selection risk is rising even as index products proliferate. For allocators, this divergence underscores that broad thematic exposure, particularly in sectors like new energy, carries execution risk that passive vehicles may not mitigate. What matters next is whether issuance momentum persists without fueling further concentration in already crowded themes, and whether performance gaps force a shakeout in product differentiation.