转向“重回报”！8月以来158只基金主动限购，葛兰、冯炉丹、高楠均出手

Core Viewpoint - The equity market is recovering as the Shanghai Composite Index surpasses 3600 points, leading to a surge in funds implementing purchase limits to manage inflows and protect existing investors' interests [1][9]. Fund Purchase Limits - Since August 1, a total of 261 funds have announced restrictions on large purchases, with 158 funds actively suspending large subscriptions. This includes 44 bond funds, 43 QDII funds, 34 equity funds, 29 mixed funds, 6 money market funds, and 2 FoFs [1]. - Specific funds, such as the China Europe Medical Innovation Fund, have set a daily purchase limit of 100,000 yuan to ensure stable operations and protect investors [2]. QDII Fund Adjustments - The National Foreign Exchange Administration issued a new batch of QDII investment quotas amounting to 3.08 billion USD, bringing the total QDII quota to 170.87 billion USD [4]. - Due to quota constraints, several QDII funds have adjusted their daily subscription limits, with some funds increasing their minimum purchase amounts significantly [7]. Performance and Strategy - High-performing funds are implementing purchase limits to control their scale and maintain investment strategy effectiveness. For instance, the China Europe Medical Innovation Fund has achieved a one-year return of 80.12% [8]. - The shift from focusing on fund size to prioritizing returns reflects a broader industry trend towards sustainable growth and investor protection [9]. Market Outlook - Despite the purchase limits, many fund companies remain optimistic about the market's long-term prospects, particularly in sectors like technology, manufacturing, and new consumption [10]. - Investment strategies are suggested to balance potential volatility, with a focus on sectors such as AI applications and advanced semiconductor processes, which are expected to benefit from supportive policies [11].