月内340余只基金产品实施限购

Core Insights - The article highlights a significant shift in the competitive philosophy of public fund institutions from "scaling up" to "protecting returns" as evidenced by the recent implementation of purchase limits on various funds [1][3] Group 1: Fund Purchase Limits - As of November 27, 96 fund managers have announced purchase limits affecting over 340 products, including 98 equity funds and 136 bond funds [1] - The average net value growth rate of the limited purchase products is 10.76% year-to-date, with 72 funds experiencing growth exceeding 20% [1] - The limited purchase products primarily consist of bond funds and equity products, along with QDII and FOF varieties [1] Group 2: Performance of Specific Funds - Two high-performing equity funds, Jin Ying Carbon Neutral Mixed Fund and Changcheng Global New Energy Fund, have implemented purchase limits due to their strong year-to-date net value growth rates of 31.48% and 28.66%, respectively [2] - The red-chip dividend theme funds have also become a major focus for purchase limits, with over 20 such products limiting purchases since November, averaging a growth rate of over 8% year-to-date [2] Group 3: Rationale Behind Purchase Limits - The implementation of purchase limits reflects fund managers' cautious approach to strategy capacity, particularly for small-cap and thematic funds sensitive to scale [2][3] - The move is seen as a rational management behavior aimed at preventing rapid scale expansion from diluting existing holders' returns and ensuring the stability of investment strategies [3] - The trend indicates a shift in the fund industry towards prioritizing actual returns for investors rather than merely expanding scale [3][4]