Group 1 - The market has shown signs of recovery this year, with nearly 100 billion yuan in new fund issuance in November, totaling 966.16 billion yuan for the month and 136 new funds established, primarily in equity funds (stock and mixed) [1] - The private equity market reached a record high of 22.05 trillion yuan in October, but subjective strategies have struggled compared to quantitative strategies, marking the highest underperformance of subjective private equity against public equity since 2021 [2] - Active equity funds are experiencing intense competition for annual rankings, with 25 funds doubling their returns year-to-date by the end of November, led by the Yongying Technology Select Fund with a return of 191.71% [2][3] Group 2 - The top-performing funds include those managed by Zhang Wei, Wu Haining, Han Hao, and Feng Ludan, all exceeding 120% returns, occupying the top five positions in performance rankings [3] - The performance table lists the top funds, with the Yongying Technology Select A fund leading at 191.71% return and a total fund size of 11.52 billion yuan [5] - Market analysts predict that December may face unlocking pressures with an estimated 420 billion yuan in A-share unlocks, potentially leading to market fluctuations, while the overall market remains in a recovery phase with positive influences from policy and fundamental improvements [7]