Core Viewpoint - The article highlights the significant growth of C-class fund shares in the third quarter, driven by short-term investors favoring frequent trading, while A-class shares have seen limited growth despite strong fund performance [1][3][5]. Fund Performance and Share Growth - Several high-performing funds have experienced substantial growth in C-class shares, with the Yongying Technology Select fund's C-class shares increasing by 21.6 billion units in the third quarter, while A-class shares only grew by 6 billion units [3]. - The average growth of A-class shares in actively managed equity funds with over 80% gains was only 0.84 million units, compared to an average increase of 5.54 million units for C-class shares [4]. Investor Behavior and Market Trends - The surge in C-class shares indicates a shift towards short-term trading among investors, with many preferring the fee structure that allows for no upfront purchase fees and lower redemption fees after a holding period [5][6]. - The trend of increased trading frequency is attributed to younger investors who are more inclined towards high-frequency, short-term trading strategies, especially in a bullish market [5][7]. Sales Channel Dynamics - Sales channels play a crucial role in the growth of C-class shares, as online platforms are more effective in promoting these shares compared to traditional bank channels that favor A-class shares [7]. - The commission structure for C-class shares, where sales service fees go to the distribution channels, incentivizes these channels to promote C-class shares more aggressively [7]. Fund Company Strategies - Many fund companies are increasingly introducing C-class shares to meet diverse investor needs and adapt to market changes, enhancing competitiveness and attracting more investors [8]. - The introduction of C-class shares is seen as a cost-effective marketing strategy for fund companies, allowing them to leverage existing products' reputations without incurring the costs associated with launching new funds [8].