Core Viewpoint - The article highlights the rapid establishment and performance of new equity funds in the A-share market, with over 120 funds achieving returns exceeding 20% since their inception, driven by a favorable market environment and proactive fund management strategies [2][4][6]. Market Performance - Since the second half of the year, the A-share market has shown active performance, with the Shanghai Composite Index rising by 11.48% and the Shenzhen Component Index increasing by 21.25% from July 1 to October 17. The ChiNext Index and the STAR 50 Index have performed even better, with increases of 36% and 35% respectively [5]. New Fund Performance - As of October 17, 122 new equity funds established since the second quarter have recorded net value growth rates exceeding 20%, with 66 of these funds achieving growth rates over 30%. For instance, the Invesco Great Wall Emerging Industry fund, established on April 1, has seen a net value increase of 66.81% [6][7]. Fund Manager Strategies - Fund managers have been aggressive in their investment strategies, quickly initiating positions after fund establishment. This proactive approach has allowed them to capitalize on market uptrends. The article notes that many successful new funds have focused on technology growth sectors and resource areas, benefiting from the strong performance of technology innovation and non-ferrous metal sectors in recent months [7][8]. Continued Optimism - As the market enters the fourth quarter, fund managers remain optimistic and continue to actively build positions. New funds established in late September and October have also shown quick net value changes, indicating a sustained aggressive investment approach [9][10]. Investment Focus - The current market trend favors technology growth and cyclical dividend styles, with fund managers believing that despite potential short-term adjustments, there are still ample opportunities for investment. They emphasize a balanced approach that combines offensive and defensive strategies, focusing on high-growth technology stocks while also investing in stable cyclical leaders to mitigate risks [11].

Core Insights - The A-share market has shown a fluctuating upward trend in the second half of the year, with over 100 newly established equity funds achieving returns exceeding 20% since their inception [1][2]. Group 1: Market Performance - From July 1 to October 17, the Shanghai Composite Index rose by 11.48%, while the Shenzhen Component Index increased by 21.25%. The ChiNext Index and the STAR 50 Index performed even better, with increases of 36% and 35% respectively [2]. - A total of 122 newly established equity funds since the second quarter have recorded a net value growth rate exceeding 20%, with 66 of these funds achieving growth rates over 30% [2]. Group 2: Fund Performance - Notable funds include the Invesco Great Wall Emerging Industries Fund, which was established on April 1 and saw a net value increase of 66.81% by October 17, and the Taiping Technology Pioneer A Fund, which achieved a growth rate of 43.32% [2]. - Passive index funds also benefited from rapid positioning, such as the Southern ChiNext AI ETF, which saw a net value increase of 66.77% since its establishment on April 23 [3]. Group 3: Investment Strategy - Fund managers are optimistic about the market outlook, actively building positions post-fund establishment to capitalize on upward market opportunities. The majority of high-performing new funds focus on technology growth sectors and some allocate to resource sectors [3][4]. - The current market environment is characterized by high volatility, yet fund managers maintain a proactive stance in building positions, with a focus on technology growth and cyclical sectors [4][5].