Market Review - The A-share market saw all major indices rise last week, with the CSI 1000, Shanghai Composite Index, and CSI 500 leading with returns of 2.51%, 2.11%, and 1.78% respectively, while the ChiNext, STAR 50, and CSI 300 lagged with returns of 0.49%, 0.65%, and 1.23% [1][14] - The total trading volume of major indices decreased last week, although the average daily trading volume over the past month was at a historical percentile level of 75%-100% [16][17] - In terms of industry performance, non-ferrous metals, machinery, and defense industries had the highest returns at 5.83%, 5.75%, and 5.24% respectively, while pharmaceuticals, consumer services, and computers had negative or minimal returns [19][21] Fund Performance - Active equity, flexible allocation, and balanced mixed funds had returns of 1.71%, 1.30%, and 1.29% respectively last week. Year-to-date, alternative funds performed the best with a median return of 14.99% [34][36] - The median excess return for index-enhanced funds was 0.14%, while quantitative hedge funds had a median return of 0.27%. Year-to-date, the excess median for index-enhanced funds was 3.95% [37] Fund Issuance - A total of 397.39 billion yuan was raised from new fund issuances last week, an increase from the previous week. The issuance included 117.59 billion yuan from equity funds, 28.73 billion yuan from mixed funds, and 251.08 billion yuan from bond funds [45][46] - 38 new funds entered the issuance phase last week, with 31 more expected to start this week [2] Central Bank Actions - As of last Friday, the central bank's net reverse repurchase was 536.5 billion yuan, with a total of 1.1267 trillion yuan in net open market operations [22][24] - The People's Bank of China has increased its gold reserves for nine consecutive months, with the official gold reserve reaching 7.396 million ounces, an increase of 60,000 ounces from the end of June [12] Fund Manager Changes - Last week, 41 fund companies reported changes in 79 fund managers, indicating a significant turnover in management [42]