Market Review - The A-share market saw all major broad-based indices rise last week, with the Star Market 50, CSI 500, and ChiNext Index leading with returns of 4.63%, 3.28%, and 2.76% respectively, while the Shanghai Composite, CSI 300, and Shenzhen Component lagged with returns of 1.67%, 1.69%, and 2.33% respectively [6][16] - The coal, steel, and non-ferrous metals sectors performed well, with returns of 8.00%, 7.55%, and 7.10% respectively, while banking, comprehensive finance, and telecommunications sectors underperformed with returns of -2.89%, -1.00%, and -0.47% respectively [22][23] - The People's Bank of China conducted a net withdrawal of 70.5 billion yuan through reverse repos, with a total of 1.7268 trillion yuan maturing and a net open market injection of 1.6563 trillion yuan [24] Fund Performance - Last week, actively managed equity, flexible allocation, and balanced mixed funds achieved returns of 1.80%, 1.44%, and 1.40% respectively [34] - Year-to-date, alternative funds have shown the best performance with a median return of 15.16%, while actively managed equity, flexible allocation, and balanced mixed funds have median returns of 11.66%, 7.73%, and 3.96% respectively [36] - The median excess return for index-enhanced funds was 0.06%, while quantitative hedge funds had a median return of 0.17% last week [37] Fund Issuance - A total of 46 new funds were established last week, with a total issuance scale of 27.604 billion yuan, an increase from the previous week [3][46] - Among the new funds, 19 were equity funds, 0 were mixed funds, and 7 were bond funds, with no new alternative or money market funds issued [46] Fund Manager Changes - Last week, 86 funds from 40 different fund companies experienced changes in fund managers, with notable changes from CITIC Securities Asset Management (11 funds), Huatai-PB Fund (5 funds), and Fortune Fund (4 funds) [44]