Group 1 - Index funds remain the main focus for new product launches by various fund companies, with multiple innovative index funds set to be issued, including those tracking free cash flow and the CSI A50 index [1][2] - The issuance of public funds has been strong since 2025, with a total of 4,183.95 million units issued as of June 12, 2023, indicating a robust market for index funds [1][4] - The rapid development of ETFs has led to an increasing proportion of index funds in the new product releases by public institutions, with many companies also launching enhanced index funds [2][3] Group 2 - The current low interest rate environment, with deposit rates dropping from 1.8% to 1.3%, is expected to boost market valuations, potentially increasing price-to-earnings ratios from around 50 to 70 [3] - The public fund issuance scale has exceeded 4,000 million units this year, with significant contributions from equity funds, particularly index funds, which have shown strong fundraising performance [4][5] - Recent market adjustments have provided opportunities for equity funds to build positions, with several funds ending their fundraising periods early due to high demand [5]