公募基金月报（10月）

Market Overview - The major indices experienced a strong rebound after four consecutive monthly declines, with the Shanghai Composite Index and Shenzhen Component Index rising by 17.39% and 26.13% respectively in September[6] - The stock market's trading volume exceeded 1 trillion CNY for four consecutive trading days at the end of September, reaching 26,114.91 billion CNY on September 30[6] - The Federal Reserve's 50 basis point rate cut provided significant policy space for China, leading to a substantial recovery in equity market sentiment[1] Fund Issuance and Performance - In September, 86 public funds were established, raising a total of 87.088 billion CNY, a significant increase of 34.527 billion CNY from the previous month[11] - Equity funds accounted for the highest proportion of issuance this year, with stock, mixed, and bond funds comprising 28.88%, 2.87%, and 65.10% respectively[11] - The average issuance size of stock funds rose to 680 million CNY, while bond funds saw an average issuance size of 2.577 billion CNY[11] Sector Positioning - Active equity funds increased their positions in the power equipment, new energy, computer, and machinery sectors, while reducing exposure to electronics, coal, and oil and petrochemical sectors over the past month[15] - The report suggests that small-cap stocks represented by the CSI 1000 and CSI 2000 indices may see a rebound as the market continues to evolve[1] Risk Factors - The analysis is based on historical public information and may be subject to sample changes, which could introduce analysis bias[1] - Historical performance of funds does not guarantee future results, and there is a risk of model failure in quantitative analysis[1]