Group 1 - The equity market in May presented localized investment opportunities, particularly in the biopharmaceutical and financial sectors, leading to significant net value increases for FOF funds heavily invested in these industries [1][2] - The average performance of equity FOFs in May was 0.91%, with the top performer being the FuGuo ZhiXin Industry Select A fund, achieving a monthly return of 1.59% [2] - The biopharmaceutical sector contributed significantly to the performance of various funds, while the financial sector also provided notable returns [3] Group 2 - Despite a rapid issuance of FOFs in May, fundraising efficiency was low, with only one new fund established, raising merely 0.10 billion [4] - The market saw a change in performance benchmarks for over a hundred public funds this year, with multi-asset products being the primary focus for these adjustments [4] - Looking ahead, the analysis from ChangCheng Fund suggests that dividend assets remain a suitable long-term investment choice amid geopolitical uncertainties and declining risk-free interest rates [5]