Core Insights - The first quarter of 2025 saw a net redemption trend in active equity funds, with significant outflows from various fund types, although some funds managed to attract substantial inflows [1][2][8] Fund Performance Summary - Ordinary stock funds experienced a net redemption of 34.13 billion units, while mixed equity funds saw a net redemption of 492.44 billion units, and flexible allocation funds had a net redemption of 161.44 billion units [2] - Despite the overall trend, several funds recorded net subscriptions exceeding 10 billion units, including 富国消费精选30C, 鹏华碳中和主题C, and 天弘价值精选C, which led their respective categories [2][4][5] Top Performing Funds - The top net subscription in ordinary stock funds was 富国消费精选30C with 14.45 billion units, followed by 景顺长城研究精选C with 12.71 billion units, and 富国新兴产业C with 10.01 billion units [3][9] - In the mixed equity fund category, 鹏华碳中和主题C topped the list with 44.27 billion units, followed by 富国稳健增长A with 36.45 billion units, and 永赢先进制造智选C with 32.01 billion units [4][6] Investment Themes - The funds that attracted significant capital were primarily focused on technology and consumer sectors, indicating a strong market interest in these themes [8][10] - Fund managers expressed confidence in traditional consumer leaders, suggesting an increase in allocation to these sectors due to improved risk-reward ratios and stable fundamentals [11]