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Core Viewpoint - The announcement from China Europe Fund regarding the suspension of large subscriptions for the China Europe Small Cap Growth Mixed Fund reflects a trend among high-performing funds to limit inflows in order to maintain investment strategy effectiveness and manage fund size [2][4][9]. Fund Performance and Limitations - The China Europe Small Cap Growth Mixed Fund has performed exceptionally well, with a one-year return of 67.55% and a three-year return of 62.20%, ranking in the top 5% of its peers [6]. - This is the second time in 2023 that the fund has announced a limit on large subscriptions, following a previous limit of 10 million yuan on August 14 [4][6]. Market Trends and Fund Management - A total of nearly 220 actively managed equity funds have announced suspensions of large subscriptions or general subscriptions this year, indicating a broader trend among high-performing funds [9]. - Fund managers are adopting a cautious approach, focusing on stable net asset value growth and the sustained profitability of investors, in light of the structural characteristics of the A-share market [10].