Market Overview - The A-share market experienced a volatile increase last week, with the CSI 300 rising by 1.54% and the CSI 1000 increasing by 0.56% [2][15] - The central economic committee's sixth meeting emphasized the need to govern "involution" competition, leading to a rally in traditional cyclical industries such as steel, coal, and building materials [3][15] Policy Insights - The "anti-involution" policy aims to reduce ineffective supply and promote industrial upgrades, shifting from total stimulus to managing supply [3][16] - The focus on "anti-involution" is expected to create a macro environment conducive to technological and industrial upgrades, although related policies have yet to be fully implemented [3][16] Sector Analysis - Deep-sea technology is highlighted as a multidisciplinary industry that may see repeated catalysts as policies are released [4][17] - Recent easing of semiconductor restrictions by the U.S. government may enhance domestic EDA tool replacement rates, with a focus on building a complete industrial chain [4][17] Fund Market Dynamics - The Beijing Stock Exchange launched the "Specialized and New" index on June 30, which includes the top 50 companies in strategic emerging industries, potentially increasing trading activity on the exchange [4][18] Fund Performance Tracking - The Active Equity Fund Index rose by 0.46% last week, with a cumulative excess return of 11.29% since inception [5][19] - The Value Equity Fund Index increased by 0.56%, with a cumulative excess return of -5.87% since inception [6][19] - The Balanced Equity Fund Index saw a rise of 1.85%, with a cumulative excess return of 4.91% since inception [7][19] - The Growth Equity Fund Index increased by 1.15%, with a cumulative excess return of 15.96% since inception [8][19] - The Pharmaceutical Equity Fund Index rose by 6.88%, with a cumulative excess return of 21.94% since inception [9][19] - The Consumer Equity Fund Index increased by 0.57%, with a cumulative excess return of 15.46% since inception [10][19] - The Technology Equity Fund Index rose by 0.46%, with a cumulative excess return of 15.71% since inception [11][19] - The High-end Manufacturing Equity Fund Index increased by 1.73%, with a cumulative excess return of -3.19% since inception [12][19] - The Cyclical Equity Fund Index rose by 1.11%, with a cumulative excess return of 3.73% since inception [13][19]