Group 1: Trust Product Issuance - In September, a total of 1,336 trust products were issued, showing a slight month-on-month decrease of 6% [1] - Among the new issuances, 1,081 were securities investment trusts, accounting for 80.91% of the total, which is an increase of 6.65 percentage points from the previous month [1] - Other investment trusts accounted for 225 products (16.84%), while loan trusts were only 20 products (1.5%), reflecting a month-on-month decrease of 4.42% [1] Group 2: Performance of Securities Investment Products - The average return for equity trusts in the first three quarters reached 18.58%, despite a volatile market in September [2] - Bond trusts underperformed, with an average return of only 1.57% in the same period, and 15.64% of bond trusts reported losses [2] Group 3: Strategy Performance - Macro strategy trusts performed the best in the first three quarters, with an average return of 24.18% [3] - Quantitative long strategies led the stock strategies with an average return of 27.26%, while subjective long strategies followed with 13.66% [3] Group 4: Specific Product Performance - Four bond trusts exceeded a 30% return in the first three quarters, with "Qihang No. 12" achieving the highest return of 39.98% [4] - Among equity trusts, "Boyi Stable Phase 1" had the highest return at 203.77%, with three equity trusts doubling their returns [4] Group 5: Trust Company Performance - BaiRui Trust had the highest average return for bond trusts at 10.11%, while 41.07% of bond products had returns below 2% [5][6] - Huaren Trust led in equity trust returns at 32.37%, followed by Caixin Trust at 26.45% [7] Group 6: Major Events in the Trust Industry - The "Trust Company Management Measures" underwent its first major revision in 18 years, focusing on core business and risk management, effective from January 1, 2026 [9] - There have been significant changes in the core management of 18 trust companies this year, including key positions such as chairman and general manager [10] - Zhongyuan Trust received approval for a capital increase to 5 billion yuan, with a new general manager appointed recently [11]