量化市场追踪周报（2024W46）：主力净流出仍处高位，哑铃型格局有所减弱

• The report primarily focuses on market trends, fund flows, and sectoral allocation changes, but does not include specific quantitative models or factor construction details[2][4][7] - The analysis highlights the performance of various indices, such as the Shanghai Composite Index (-1.91%) and the Shenzhen Component Index (-2.89%), reflecting a broad market retreat during the week[8][10] - Sectoral performance analysis shows significant declines in industries like comprehensive finance (-6.56%) and consumer services (-6.16%), while retail trade saw a notable increase (+3.33%)[10][11] - Fund flow data indicates a net inflow of approximately 41.69 billion yuan into domestic stock index ETFs, with TMT sector ETFs receiving a significant net inflow of 23.78 billion yuan[3][35][36] - The report discusses the allocation trends of active equity funds, noting an increase in mid-cap value exposure (+2.81 percentage points) and a decrease in small-cap value exposure (-1.62 percentage points)[24][26][27] - Sectoral allocation changes in active equity funds show increased weightings in non-ferrous metals (+0.31 percentage points) and media (+0.15 percentage points), while reducing exposure to sectors like oil and petrochemicals (-0.21 percentage points)[28][29][30] - The report mentions the development of an industry rotation model based on high-performing fund holdings, which achieved an excess return of 0.74% during the week[30][31][33]