Core Insights - In the third quarter, actively managed equity funds experienced a significant redemption of 2,155 million units, a substantial increase compared to the second quarter, primarily due to the recovery of net asset values from the previous bull market [1] - The top three holdings in actively managed equity public funds during the third quarter were Ningde Times, Xinyiseng, and Zhongji Xuchuang, which accounted for the largest market value share [1] - The report by analysts, including Yao Pei, indicated that the new issuance of fund shares in the third quarter increased by 53% quarter-on-quarter, reaching the highest level since the third quarter of 2022 [1] Fund Issuance and Sector Allocation - The issuance scale for July, August, and September was 9.7 billion, 17 billion, and 29.4 billion units respectively, totaling 56.1 billion units [1] - In terms of sector allocation, public funds increased their positions in electronics and communications while reducing their holdings in banks and food and beverage sectors [1] - The industry showed an overweight position in electronics, communications, and electric new energy, while being underweight in non-bank financials, banks, and public utilities [1]