Which is the best fund sales agent?

The main position of the bank is difficult to shake

　　Live broadcast lowers the threshold for investors to understand, and the scale of third-party agency sales grows rapidly

　　On the evening of January 28, the list of the top 100 sales institutions in public fund sales by the China Foundation Association (hereinafter referred to as the "Top 100 Fund Sales Agency List") showed that in the fourth quarter of 2021, the "stock + mixed public fund holding scale" "The total amount was 6.4609 trillion yuan, an increase of 4.93% month-on-month; the "non-monetary market public offering fund retention scale" totaled 8.3262 trillion yuan, an increase of 8.67% month-on-month.

　　Tiantian Fund Stock Mix

　　The holding scale exceeds that of Industrial and Commercial Bank of China

　　In terms of the holding scale of stocks + mixed public funds, the top ten sales institutions in the fourth quarter of 2021 are China Merchants Bank, Ant Fund, Tiantian Fund, Industrial and Commercial Bank of China, China Construction Bank, Bank of China, Bank of Communications, Agricultural Bank of China, Shanghai Pudong Development Bank and Minsheng Bank.

China Merchants Bank topped the list with a scale of 791 billion yuan, surpassing the second-placed Ant Fund with a holding scale of 63.2 billion yuan, and Tiantian Fund’s mixed holding scale of 537.1 billion yuan, surpassing ICBC’s 535.6 billion yuan, entering the top three for the first time with a slight advantage. The Industrial and Commercial Bank of China fell out of the top three for the first time.

In terms of the holding scale of non-monetary market public funds, Ant Fund ranked first with 1,298.5 billion yuan, surpassing the second place, China Merchants Bank, with a holding scale of 428.4 billion yuan, a slight increase compared with the third quarter. Yuan's scale broke into the top 10 for the first time.

　　Compared with previous years, the ranking of the top 20 in terms of retention scale is relatively stable, and only the 3rd and 4th places and the 16th and 17th places have changed.

The competition for the third place is fierce. Tiantian Fund surpassed ICBC in terms of holdings of stocks and mixed public funds for the first time in the fourth quarter after the holdings of non-stock public funds exceeded ICBC in the third quarter.

　　Banking Institutions Public Offering Fund

　　Retention scale is still the largest

　　Among these 100 agency sales agencies, in the fourth quarter of 2021, securities companies accounted for 46, a decrease of 3 compared with the third quarter, namely Datong Securities, Yuekai Securities, and First Venture; Banks accounted for 31, a decrease from the third quarter. In the third quarter, 1 was added; 21 independent fund sales agencies were established, 2 more than in the third quarter; 2 were insurance and agency agencies, the same as in the third quarter.

　　“非货币市场公募基金保有规模”中，2021年第四季度，券商保有规模为1.0157万亿元，较第三季度增加了76亿元，占比为12.2%；银行保有规模合计为4.3952万亿元，占比52.79%，较第三季度增加了2388亿元。独立基金销售机构保有规模为2.8769万亿元，占比34.55%，较第三季度增加了4115亿元。保险及代理机构规模为384亿元，较第三季度增加了67亿元。整体来看，银行系机构的公募基金保有规模依然最大，31家银行的保有规模占比过半。

　　证券公司在基金代销TOP100有46家证券公司，是代销机构的最大阵营。银行系共有31家，第三方代销机构20家，保险等其他机构3家。券商系在机构代销公募基金的竞争中出现颓势，规模和数量均有下滑。股混保有规模与三季度相比下滑，非货保有规模只是略有增长。

　　持续发力投资者教育和产品持营

　　第三方代销机构规模增长迅猛

　　2021年第四季度，独立基金销售机构表现突出，其保有规模合计为1.7032万亿元，占比26.26%，较第三季度增加了1560亿元。其中蚂蚁(杭州)基金销售有限公司非货币市场公募基金保有规模达12985亿元，较第三季度增长1031亿元。蚂蚁基金也是行业内唯一一个基金销售机构非货公募基金销售保有规模连续三个季度超过万亿的机构。天天基金规模达6739亿元，较第三季度增长956亿元。

　　北京汇成、北京度小满、北京恒天明泽和上海基煜的股混保有规模增幅环比三季度超20%，泛华普益和上海万得进入保有规模前100。在非货保有规模方面，北京汇成、好买基金、上海基煜和北京度小满保有规模环比三季度增长超40%。

　　有基金分析人士认为，第三方代销机构保有规模快速增长，得益于持续发力投资者教育和产品持营，通过直播、讨论区等新形式，降低投资者理解门槛，帮助投资者逐渐形成长期持有的理念。

　　文/本报记者 朱开云