East Wu Securities released a research report stating that in this month (2024.5.1-2024.5.31), the returns of stock index and bond-type funds were higher than the Shanghai and Shenzhen 300, while the returns of general stock-type and equity-oriented mixed funds were significantly lower than the Shanghai and Shenzhen 300. The average daily trading volume of all funds this month was 1109.36 billion yuan, an increase of 4.9% compared to the same period last year, but a decrease of 9.0% compared to the previous month. The average daily trading volume of ETF funds this month was 1139.60 billion yuan, an increase of 8.7% year-on-year, but a decrease of 7.1% compared to the previous month. The main points of East Wu Securities are as follows: 1. In May 2024, the net asset value of fund indices rose steadily before seeing a slight decline. In this month (2024.5.1-2024.5.31), the returns of stock index and bond-type funds were higher than the Shanghai and Shenzhen 300, while the returns of general stock-type and equity-oriented mixed funds were significantly lower than the Shanghai and Shenzhen 300. 2. The net inflow of funds into stock-type ETF funds was -20.791 billion yuan, with a total size of 1.6761 trillion yuan. Stock-type ETF funds are mainly categorized into broad-based ETFs, industry and theme ETFs, and style ETFs. In terms of broad-based ETFs, the net inflow was -21.715 billion yuan, with a size of 1.1521 trillion yuan; for industry and theme ETFs, the net inflow was 39.97 billion yuan, with a size of 503.468 billion yuan; for style ETFs, the net inflow was 23.37 billion yuan, with a size of 205.18 billion yuan. 3. Trading volume of funds increased year-on-year but decreased month-on-month. The average daily trading volume of all funds this month was 1109.36 billion yuan, an increase of 4.9% year-on-year, but a decrease of 9.0% compared to the previous month. The average daily trading volume of ETF funds this month was 1139.60 billion yuan, an increase of 8.7% year-on-year, but a decrease of 7.1% compared to the previous month. 4. The average turnover rate of funds continued to decline. The average daily turnover rate of all funds this month was 5.2%, a decrease of 0.4% year-on-year and a decrease of 0.7% compared to the previous month. The average daily turnover rate of stock-type ETF funds this month was 5.7%, a decrease of 1.1% compared to the previous month; for bond-type ETF funds, the average daily turnover rate was 45.6%, an increase of 0.9% compared to the previous month; for commodity-type ETF funds, the average daily turnover rate was 7.3%, a decrease of 6.3% compared to the previous month; for cross-border ETF funds, the average daily turnover rate was 10.5%, an increase of 0.8% compared to the previous month; for currency type ETF funds, the average daily turnover rate was 6.3%, an increase of 0.3% compared to the previous month. 5. Public funds: Open-ended fund holdings slightly increased, overall share increased. This month, new fund shares totaled 83.597 billion shares, a decrease of 27.342 billion shares from the previous month, a decrease of 12.7% year-on-year, and a decrease of 24.6% month-on-month. All new funds issued this month were non-monetary funds, with 340.90 billion shares of new equity funds, an increase of 16.7% year-on-year and an increase of 540.8% month-on-month; 1043.45 billion shares of new bond-type funds, an increase of 231.1% year-on-year and an increase of 316.1% month-on-month. Among them, the proportion of equity funds in the total scale of all new funds issued this month was 11.3%, while the proportion of bond-type funds increased to 88.5%. As of the end of this month, the total holdings of public funds in the domestic market amounted to 29.10 trillion yuan (an increase of 0.4% month-on-month and 9.7% year-on-year). The holdings of open-end funds increased by 0.35% to 28.94 trillion yuan, accounting for 99.47%, while the holdings of closed-end funds decreased by 3.7% to 1,528.06 billion yuan, accounting for 0.5%. The total shares of public funds in the domestic market amounted to 28.11 trillion shares, an increase of 0.3% month-on-month and 13.3% year-on-year, with open-end fund shares accounting for 28.04 trillion shares, an increase of 0.3% month-on-month. Among them, the shares of bond-type funds were 8.78 trillion shares, an increase of 0.98% month-on-month, and the shares of closed-end funds were 618.13 billion shares, an increase of 0.0013% month-on-month; equity fund shares were 6.08 trillion shares, an increase of 0.4% month-on-month, and non-monetary fund shares were 15.54 trillion shares, an increase of 0.05% month-on-month. 6. ETF scale and holdings declined. This month, there were 30.68 billion new ETF fund shares issued, a decrease of 67.3% year-on-year and a decrease of 27.7% month-on-month. The overall ETF market size was 24.46233 trillion yuan, an increase of 38.5% year-on-year but a decrease of 1.4% month-on-month. The ETF holdings this month were 2.45 trillion yuan, a decrease of 1.38% month-on-month but an increase of 38.46% year-on-year. 7. Private funds: The outstanding scale in April slightly increased, while the growth in new registrations decreased. As of the end of April 2024, there were 152,794 outstanding private funds, an increase of 135 funds from March, representing a 0.09% increase; the outstanding scale of private funds was 19.90 trillion yuan, a decrease of 1.91% month-on-month. As of the end of April, there were 21,032 private fund managers, a decrease of 66 managers from March, representing a 0.31% decrease. In April, there were 1,197 new registered private funds, an increase of 339 funds from March, representing a 39.51% increase; the new registration scale was 351.9 billion yuan, a decrease of 8 billion yuan from March, representing a 2.22% decrease. Risk warning: All statistical results in this report are based on historical data, and future markets may undergo significant changes.