Core Viewpoint - The public fund industry is experiencing a significant increase in new fund issuance in the fourth quarter, driven by favorable macroeconomic conditions and supportive policies [1][2][3]. Group 1: New Fund Issuance - As of October, 94 new funds have been established, indicating a clear upward trend in new fund issuance [1]. - The issuance of new funds is crucial for the equity market as it directly influences the supply of funds [1]. Group 2: Policy Support - Regulatory bodies are emphasizing the importance of long-term investment and have simplified the approval process for new funds, enhancing issuance efficiency [1]. - Policies encouraging long-term capital inflow, such as increasing allocations from social security and pension funds to A-shares, create a favorable environment for new fund issuance [1]. Group 3: Market Attractiveness - The A-share market is becoming increasingly attractive due to improving corporate earnings and relatively low valuations compared to global markets [2]. - Structural opportunities in emerging industries like new energy, semiconductors, and biomedicine are providing investors with numerous high-quality investment targets [2]. - The ongoing internationalization of the A-share market and continuous foreign capital inflow are enhancing market activity and appeal [2]. Group 4: Product Innovation - The public fund industry is innovating continuously, introducing various fund types, including ETFs and quantitative funds, to meet diverse investor needs [3]. - Innovative fund products cater to different risk preferences and investment goals, stimulating new asset allocation demands and contributing to increased capital inflow into the A-share market [3]. Group 5: Outlook - The trend of new fund issuance is expected to continue in the fourth quarter, providing strong support for the stable development of the capital market and creating more investment opportunities for investors [3].