Group 1 - The core point of the news is that China Europe Fund announced restrictions on large subscriptions for its funds, specifically the China Europe Medical Innovation Stock Fund and the China Europe Science and Technology Innovation Theme Fund, effective from August 11, 2025 [1][2][4] - The China Europe Medical Innovation Stock Fund, managed by Ge Lan, will limit single-day subscriptions to 100,000 yuan, marking the first time since its establishment in 2019 that such restrictions have been applied across all channels [3][4] - The China Europe Science and Technology Innovation Theme Fund, managed by Shao Jie, will have a higher limit of 1,000,000 yuan for large subscriptions, also starting from August 11, 2025 [5][6] Group 2 - Since July, approximately 50 actively managed equity funds have announced subscription limits, many of which have shown significant returns over the past year, indicating a trend among fund managers to manage inflows during periods of high performance [6] - The China Europe Medical Innovation A fund has achieved a return of 80.12% over the past year, while the China Europe Science and Technology Innovation A fund has returned 84.33%, and the China Europe Digital Economy Mixed A fund has seen a remarkable return of 146.87% [6] - The restrictions on large subscriptions are often a response to prevent arbitrage and manage fund capacity, reflecting the attitudes of fund managers during periods of market exuberance or high valuations [6][7]