Core Insights - The fund issuance market has maintained its momentum in October, with 103 funds planned for issuance by mid-month, including 78 equity funds [1][2] - Several funds have ended their fundraising early, with notable examples including E Fund's Hang Seng Biotechnology ETF and Penghua's Manufacturing Upgrade Mixed Fund, which reached their fundraising limits quickly [2][3] Fund Issuance Trends - The early closure of fundraising and the initiation of proportionate allocation reflect the high demand for equity products [2][3] - E Fund's announcement to close its biotechnology ETF fundraising on October 15, ahead of the original deadline, highlights the strong investor interest [2] - Penghua's Manufacturing Upgrade Mixed Fund exceeded its fundraising cap of 2 billion yuan within just two trading days, leading to a proportionate allocation of 57.06% for effective subscription applications [2][3] Market Sentiment and Performance - The resurgence in fund issuance is attributed to the positive performance of the A-share market, which has recently surpassed 3900 points, boosting investor confidence [3] - The combination of precise marketing strategies and convenient services has accelerated the fundraising process, allowing funds to quickly meet their targets [3] Fund Characteristics and Popularity - Funds that have implemented proportionate allocation often feature "hot sectors" and "high-performing managers," indicating a trend towards popular investment themes such as healthcare and technology [4] - The performance of managers, such as Yan Siqian, whose fund has seen a net value growth rate exceeding 95% this year, has attracted significant investor interest [4] Diversity in Fund Types - The types of funds utilizing proportionate allocation have become more diverse, with mixed funds being the most common, followed by QDII funds, which have the least number of proportionate allocations [5] - The trend of proportionate allocation is a strategy employed by fund companies to control scale and maintain management performance, particularly in sectors with inherent size limitations [5] Investment Considerations - While proportionate allocation serves as an indicator of market enthusiasm, investors are advised to focus on the underlying logic of the fund's investment strategy and the manager's track record rather than solely on the allocation mechanism [6]