Core Viewpoint - The trend of actively limiting the initial fundraising scale of newly launched public funds is becoming prominent among fund managers in China, aiming to enhance operational efficiency and build investor trust through solid performance [1][4][7]. Fundraising Trends - Several newly launched funds, including those managed by well-known fund managers, have set relatively low initial fundraising caps, such as 20 billion yuan for some and 10 billion yuan for others, completing their fundraising quickly [2][3]. - The initial fundraising amounts for these funds were 19.84 billion yuan, 19.87 billion yuan, and 10 billion yuan, attracting thousands of investors within a short period [2]. Industry Changes - The industry is witnessing a shift from a focus on initial fundraising scale to prioritizing the long-term viability of products, with fund managers aiming to refine investment strategies without the interference of large scales [4][7]. - Fund companies are increasingly emphasizing the importance of product performance post-establishment and enhancing investor education and service quality to improve the overall investment experience [8]. Investor Engagement - Fund managers are adopting strategies to control initial fundraising sizes to allow for better operational flexibility and responsiveness to market changes, particularly for growth-style products [4][5]. - There is a growing consensus among fund companies and distribution channels to focus on long-term performance and investor satisfaction rather than merely increasing initial fundraising sizes [6][8]. Long-term Focus - The industry is moving towards a model that values long-term performance and investor trust, with fund companies aiming to create high-quality products that can sustain investor interest over time [7][8]. - Fund companies are encouraged to adjust their assessment and operational logic to include long-term metrics, fostering a culture of sustained growth and investor loyalty [8].

Core Viewpoint - The trend of actively limiting the initial fundraising scale of newly launched public funds is emerging, with several well-known fund managers setting relatively low fundraising caps to enhance operational efficiency and build investor trust through solid performance [1][3][5]. Group 1: Fundraising Trends - Recently launched public funds, such as those managed by Yan Siqian, Li Jianfeng, and Zhao Wei, have set initial fundraising caps of 2 billion, 2 billion, and 1 billion respectively, and completed fundraising quickly [1][2]. - The three funds began issuing on October 9 and announced early closure of fundraising by October 10, attracting 11,992, 14,689, and 4,039 investors respectively [2]. - Other funds, including the China Europe Value Navigator managed by Lan Xiaokang, also announced early fundraising closure after just one day of issuance [2]. Group 2: Strategic Focus - Fund managers are controlling initial fundraising scales to allow ample space for refining investment strategies and to avoid operational inefficiencies caused by excessive scale [3][4]. - The shift in focus from initial fundraising to post-establishment operations and investor education is becoming more pronounced, aligning with the growing demand for better investment experiences [3][5]. Group 3: Industry Evolution - The public fund industry is moving away from the previous focus on initial fundraising towards a greater emphasis on the long-term viability of products, aiming to build trust through consistent performance [4][5]. - Fund companies are increasingly aware of the need to control initial fundraising limits and prioritize operational performance and investor feedback post-establishment [5]. - The industry is transitioning from a high-speed growth model to a high-quality development model, emphasizing the importance of long-term value and investor education [5].