Core Insights - The A-share market is experiencing a steady rise, leading to a recovery in the issuance of equity funds, with notable highlights since September [1] - A total of 133 funds were established in September, raising 124.195 billion yuan, marking a new high for the year and continuing a trend of over 100 billion yuan in issuance for two consecutive months [7] Fund Issuance Performance - Several equity funds sold out in one day, with a significant increase in the number of active equity funds, indicating a strong market demand [3][4] - The "Zhaoshang Balanced Optimal" fund raised 4.955 billion yuan, becoming the largest newly issued active equity fund of the year, with a subscription confirmation ratio of 56.67% [3][4] - Other notable funds that sold out in one day include "Huashang Hong Kong Stock Connect Value Return" and several smaller funds, reflecting a trend of rapid fundraising [3][4] Fund Types and Trends - Active equity funds have shown a clear recovery, with several funds exceeding 17 billion yuan in issuance, including "Ping An Hong Kong Stock Connect Technology Selected" and "Jiaoyin Industry Selection" [5] - Among the newly established equity index funds, four funds raised over 2 billion yuan, with the "Tianhong National Index Hong Kong Stock Connect Technology" fund leading at 2.522 billion yuan [5] - The overall issuance of equity funds accounted for over half of the total, indicating a positive shift in market sentiment towards equity investments [7] Market Sentiment and Future Outlook - The steady rise in the equity market has led to a visible profit effect for equity funds, contributing to the recovery of the issuance market [7] - The average issuance scale of new funds in September was 924 million yuan, marking the second-highest peak of the year [7] - The focus of fund managers and capital allocation is increasingly directed towards technology growth sectors and the Hong Kong market [6]