Core Viewpoint - The public fund market is experiencing a significant decrease in new fund subscriptions, with a 45.45% week-on-week decline in the number of funds available for subscription from October 20 to October 26, 2023, and an average subscription period extended to 27.8 days [1]. Fund Type Analysis - A total of 30 public funds are open for subscription this week, with 23 of them being equity funds, accounting for 76.67% of the total [2][3]. - Among the equity funds, passive index funds are particularly popular, with 11 out of 15 stock-type funds being passive index funds, representing 73.33% of the stock-type total [3]. - The bond fund issuance remains stable, with 3 new bond funds opening for subscription this week, maintaining the same level as the previous week [3]. - QDII (Qualified Domestic Institutional Investor) funds have seen a slight recovery, with 1 new QDII fund opening for subscription this week, compared to none the previous week [3]. Institutional Participation - This week, 27 public fund institutions have new funds available for subscription, with 24 institutions offering only 1 new fund each, while 3 institutions have 2 new funds [3]. - Notably, Huatai-PineBridge Fund and Harvest Fund each launched 2 new funds, with a mix of mixed and stock-type funds [3]. Market Sentiment and Strategy - The overall issuance of public products has cooled down, attributed to two main factors: market sentiment pressure due to high previous gains in the technology growth sector and a stable issuance strategy from public funds [3]. - Investors are showing concerns about the sustainability of earnings, leading to a contraction in risk appetite, which has resulted in fewer new products being launched and longer fundraising periods [3].