Recently, the China Securities Investment Fund Industry Association disclosed data on fund sales agencies' holdings for the first half of this year. According to the data, Ant Fund's non-monetary market fund holdings exceeded 2 trillion yuan, making it the first in the entire market. At the same time, in the field of non-money market funds, the holdings of third party institutions reached 5.40 trillion yuan, surpassing banks' 5.33 trillion yuan for the first time. Interviewed industry insiders told reporters that independent third-party sales agencies have significant entry, traffic, and scenario advantages, which banks and brokerage firms do not have. However, brokerage firms have their own advantages in the ETF business, and various types of institutions need to find their own positions.

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