FOF is booming, and banks are also working to "cultivate stars"

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FOF (Fund of Funds) is becoming a popular choice for fund companies and banks to expand their wealth management channels. “Sunshine Funds” frequently appear, and early fundraising has become the norm. On March 11, reporters noted that several recent FOF products were sold out immediately after issuance, with market enthusiasm continuing to rise. At the same time, China Merchants Bank, China Construction Bank, and Bank of China have launched their own exclusive FOF plans, collaborating with fund companies to build one-stop asset allocation solutions. Experts believe that in the current low-interest-rate environment and with residents’ wealth shifting, banks’ vigorous development of FOF and other comprehensive wealth management services can help optimize income structures and strengthen intermediary businesses. (Beijing Business Daily)

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