China Asset Management Association: Private Fund Total Scale Reaches 22.6 Trillion Yuan, February New Filing Scale 132.993 Billion Yuan

On the evening of March 24, the China Securities Investment Fund Industry Association website released data showing that as of the end of February 2026, the total size of private equity funds reached 22.6 trillion yuan, a record high. Since January 2025, the industry scale has grown by over 2 trillion yuan; after surpassing 22 trillion yuan for the first time at the end of October 2025, it has continued to set new records for five consecutive months, maintaining stability at this level.

As of the end of February 2026, there were 19,129 active private fund managers managing 140,263 funds with a total scale of 22.6 trillion yuan. Among them, private securities investment fund managers numbered 7,484; private equity and venture capital fund managers numbered 11,470; private asset allocation fund managers numbered 5; and other private investment fund managers numbered 170.

In terms of fund management scale, the top six regions are Shanghai, Beijing, Shenzhen, Guangdong (excluding Shenzhen), Jiangsu, and Zhejiang (excluding Ningbo), accounting for a total of 75.48%, higher than 75.38% in January. Specifically, Shanghai manages 6,135.422 billion yuan, Beijing 5,117.961 billion yuan, Shenzhen 2,079.594 billion yuan, Guangdong (excluding Shenzhen) 1,360.182 billion yuan, Jiangsu 1,301.02 billion yuan, and Zhejiang (excluding Ningbo) 1,063.312 billion yuan, with respective proportions of 27.15%, 22.65%, 9.20%, 6.02%, 5.76%, and 4.71%.

As of the end of February 2026, the number of registered private fund managers by registration location (across 36 regions) is concentrated in Shanghai, Beijing, Shenzhen, Zhejiang (excluding Ningbo), Guangdong (excluding Shenzhen), and Jiangsu, accounting for 72.40%, slightly above 72.39% in January. Specifically, Shanghai has 3,619 managers, Beijing 3,172, Shenzhen 2,830, Zhejiang (excluding Ningbo) 1,525, Guangdong (excluding Shenzhen) 1,519, and Jiangsu 1,184, with respective proportions of 18.92%, 16.58%, 14.79%, 7.97%, 7.94%, and 6.19%.

Additionally, the private fund product filing situation for February was disclosed. In February 2026, 1,899 new private funds were filed, with a total scale of 132.993 billion yuan. Among them, private securities investment funds numbered 31,371 with a new filing scale of 6.1897 billion yuan; private equity investment funds numbered 106 with a new filing scale of 6.535 billion yuan; venture capital funds numbered 422 with a new filing scale of 64.561 billion yuan.

(China Securities Investment Fund Industry Association)

(Edited by: Xu Nannan)

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