Core Viewpoint - The trend of actively limiting the initial fundraising scale of newly launched public funds is becoming prominent among fund managers in China, aiming to enhance operational efficiency and build investor trust through solid performance [1][4][7]. Fundraising Trends - Several newly launched funds, including those managed by well-known fund managers, have set relatively low initial fundraising caps, such as 20 billion yuan for some and 10 billion yuan for others, completing their fundraising quickly [2][3]. - The initial fundraising amounts for these funds were 19.84 billion yuan, 19.87 billion yuan, and 10 billion yuan, attracting thousands of investors within a short period [2]. Industry Changes - The industry is witnessing a shift from a focus on initial fundraising scale to prioritizing the long-term viability of products, with fund managers aiming to refine investment strategies without the interference of large scales [4][7]. - Fund companies are increasingly emphasizing the importance of product performance post-establishment and enhancing investor education and service quality to improve the overall investment experience [8]. Investor Engagement - Fund managers are adopting strategies to control initial fundraising sizes to allow for better operational flexibility and responsiveness to market changes, particularly for growth-style products [4][5]. - There is a growing consensus among fund companies and distribution channels to focus on long-term performance and investor satisfaction rather than merely increasing initial fundraising sizes [6][8]. Long-term Focus - The industry is moving towards a model that values long-term performance and investor trust, with fund companies aiming to create high-quality products that can sustain investor interest over time [7][8]. - Fund companies are encouraged to adjust their assessment and operational logic to include long-term metrics, fostering a culture of sustained growth and investor loyalty [8].