Core Viewpoint - The article highlights the positive shift in market confidence and the increasing interest in equity funds, particularly those managed by skilled fund managers, indicating a potential investment opportunity in the current market environment [2][3]. Fund Issuance and Market Sentiment - As of October 22, over 6 equity funds have announced early closure of fundraising, including several actively managed funds led by high-performing managers [2]. - The newly launched floating fee rate fund, Jiashi Growth Sharing Mixed Fund, has seen strong subscription since its launch on October 20 [2]. Talent Development and Investment Strategy - Jiashi Fund employs a "3-3-3 growth path" for its investment research talent, emphasizing at least 3 years of industry research, followed by comparative studies across multiple industries, and finally transitioning to investment management [3][4]. - The article discusses the importance of a structured talent development mechanism, which allows for the integration of experienced and new managers, fostering a competitive edge in the market [9][15]. Performance of Fund Managers - Meng Xia, a representative fund manager, has shown a solid investment style focused on "quality growth," emphasizing the importance of companies with strong fundamentals and significant growth potential [4][5]. - Meng Xia's managed funds, such as Jiashi Advantage Growth and Jiashi Manufacturing Upgrade, have demonstrated impressive returns, with Jiashi Manufacturing Upgrade achieving a return of 132.53% since September 24, 2022 [6][10]. Broader Market Insights - The article notes that the current A-share market remains within a reasonable valuation range, suggesting that recent adjustments may present good investment opportunities [8]. - Meng Xia expresses optimism about investment opportunities in high-end manufacturing and technology sectors, as well as a reversal in domestic demand [7][8]. Team Structure and Collaboration - Jiashi Fund's investment team includes a mix of experienced and emerging managers, fostering a collaborative environment that enhances investment strategies [9][13]. - The article highlights various fund managers within Jiashi, each with distinct investment styles and successful track records, contributing to the firm's overall performance [11][12].

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report - This week, the A-share market rebounded strongly, with the Shanghai Composite Index breaking through the year's high. The average daily trading volume increased by 22.36% week-on-week. The market risk appetite increased due to the easing geopolitical situation and the introduction of domestic growth-stabilizing policies [1][10]. - The financial technology sector led the rise this week, with both financial and growth styles performing well. The growth style index rose 5.21% this week, and its trading volume accounted for 54.20% of the total, reaching a four-week high [14]. - Looking ahead, the market is expected to maintain a steady upward trend. In July, the market is expected to see an orderly rotation of hot sectors. However, investors should remain cautious before the uncertainties of Sino-US tariff negotiations and the Fed's interest rate decision are eliminated [15]. 3. Summary According to the Directory 3.1 This Week's Market Review 3.1.1 Industry Index - The comprehensive finance, computer, comprehensive, national defense and military industry, and non-bank finance sectors led the gains this week. The trading volume of non-bank finance and bank sectors increased significantly compared to last week, while the trading activity of media, petroleum and petrochemical, medicine, food and beverage, and agriculture, forestry, animal husbandry, and fishery sectors decreased significantly [10]. - COMEX gold fell 2.94%, and the Chinese bond market maintained a narrow range of fluctuations. The basis of stock index futures contracts increased overall, and the net value of stock hedging strategies continued to decline. The average and median returns of neutral hedging funds this week were -0.10% and -0.03% respectively [1][10]. 3.1.2 Market Style - The financial technology sector led the rise this week, driving the market index higher. The growth style index rose 5.21% this week, and its trading volume accounted for 54.20% of the total, reaching a four-week high. The consumer style index rose 1.46%, and its trading volume accounted for 10.93% of the total, reaching a four-week low [14]. - The financial style index rose 3.41%, and its trading volume accounted for 10.07% of the total, reaching a four-week high. The stable style index rose only 0.78%, and its trading volume accounted for 3.45% of the total, reaching a four-week low [14]. - The cyclical style index rose 3.02%, and its trading volume accounted for 21.35% of the total, reaching a four-week low. The CSI 2000 index rose 5.55% this week, but its trading volume accounted for 28.89% of the total, reaching a four-week low [14]. 3.2 Active Equity Funds 3.2.1 Funds with Excellent Performance in Different Theme Tracks This Week - In the single-track fund category, the top five funds in terms of performance this week were Dongcai Value Qihang A, Taixin Development Theme, Chang'an Yusheng A, Huashang Upstream Industry A, and Huitianfu Consumption Upgrade A [20]. - In the double-track fund category, the top five funds in terms of performance this week were China Merchants Securities Technology Theme 6-Month Holding A, Yin Hua Multi-Power, Yongying High-End Equipment Smart Selection A, Huashang Computer Industry Quantitative A, and Hongtu Innovation Selection LOF [20]. 3.2.2 Funds with Excellent Performance in Different Strategy Categories - In the deep undervaluation strategy, the top three funds were Orient Internet Jia, Qianhai Kaiyuan Event-Driven A, and GF Shanghai-Hong Kong-Shenzhen Value Growth A [2][22]. - In the high-growth strategy, the top three funds were China Europe Prosperity Outlook One-Year Holding A, Yuanxin Yongfeng High-End Manufacturing, and Huafu Guotai Min'an A [2][22]. - In the high-quality strategy, the top three funds were Furong Fujin A, Great Wall Jiuxin A, and E Fund New Normal [2][22]. - In the quality undervaluation strategy, the top three funds were Tongtai Financial Selection A, Qianhai Kaiyuan Shengxin A, and Wells Fargo Financial Real Estate Industry A [2][22]. - In the quality growth strategy, the top three funds were AVIC New Takeoff A, SDIC UBS New Energy A, and E Fund National Defense and Military Industry A [2][22]. - In the GARP strategy, the top three funds were Guoshou Anbao Target Strategy A, Guotai Dazhizao Two-Year Holding, and China AMC Panyi One-Year Fixed Open [2][22]. - In the balanced cost-performance strategy, the top three funds were Hongtu Innovation Selection LOF, Chang Sheng State-Owned Enterprise Reform Theme, and Taixin Development Theme [2][22]. 3.3 Index Enhanced Funds 3.3.1 This Week's Excess Return Distribution of Index Enhanced Funds - The average and median excess returns of CSI 300 index enhanced funds were 0.06% and 0.10% respectively [25]. - The average and median excess returns of CSI 500 index enhanced funds were -0.35% and -0.37% respectively [25]. - The average and median excess returns of CSI 1000 index enhanced funds were -0.20% and -0.22% respectively [25]. - The average and median excess returns of CSI 2000 index enhanced funds were -0.04% and -0.06% respectively [25]. - The average and median excess returns of CSI A500 index enhanced funds were 0.11% and 0.13% respectively [25]. - The average and median excess returns of ChiNext index enhanced funds were -0.20% and -0.17% respectively [25]. - The average and median excess returns of STAR Market and ChiNext 50 index enhanced funds were -0.11% and -0.14% respectively [26]. 3.4 This Issue's Bond Fund Selections - The report screened out the medium- and long-term bond fund pool and the short-term bond fund pool based on indicators such as fund size, performance risk indicators, the latest fund size, Wind Fund secondary classification, three-year rolling returns, and three-year maximum drawdowns [42]. 3.5 This Week's High-Frequency Fund Position Detection - Active equity funds significantly increased their positions in the petroleum and petrochemical (0.18%), coal (0.09%), and comprehensive (0.08%) industries this week; they significantly reduced their positions in the machinery (0.19%), automobile (0.13%), and commercial and retail (0.08%) industries [3]. - From a one-month perspective, the position of the pharmaceutical industry increased significantly by 0.71%, while the positions of the machinery and automobile industries decreased significantly by 0.64% and 0.65% respectively [3]. 3.6 This Week's Weekly Tracking of US Dollar Bond Funds - Not provided in the content