Core Insights - The significant increase in C-class shares of high-performing funds indicates a growing trend of short-term investors in the market [1][4][5] - C-class shares have gained popularity due to their fee structure advantages and the changing behavior of investors towards more frequent trading [4][6] Fund Performance - In Q3, many high-performing funds saw substantial growth, with C-class shares being the main driver of this increase [2][3] - For instance, the Yongying Technology Select Fund experienced a remarkable 99.45% increase in Q3, with its C-class shares growing from 700 million to 3.466 billion shares [2] - C-class shares were purchased over 9.2 billion and redeemed over 7 billion in Q3, highlighting a clear trend of "quick in and out" trading behavior among investors [2] Investor Behavior - The surge in C-class shares reflects a shift towards short-term trading strategies among investors, particularly younger ones who prefer high-frequency, short-cycle investments [4][5] - The fee structure of C-class shares, which does not charge a subscription fee and allows for fee waivers after a certain holding period, caters to this trading style [4][6] Sales Channel Dynamics - The growth of C-class shares is also attributed to the preferences of sales channels, with online platforms favoring C-class shares over A-class shares [5] - C-class shares generate sales service fees that are retained by the distribution channels, providing them with a stronger incentive to promote these shares [5] Fund Management Strategies - Many fund companies are increasingly adding C-class shares to their offerings to meet diverse investor needs and adapt to market changes [6] - This strategy allows fund companies to enhance their competitiveness and attract more investors without incurring the costs associated with launching new funds [6]