Report Industry Investment Rating - Not provided in the given content Core Viewpoints - **Important Information**: The first batch of fund Q3 reports were released, with the technology track remaining the "core position"; 8 new products were added to the personal pension fund list; many fund products ended fundraising early and conducted proportional配售 within the month [2] - **Market Review**: Last week (20251013 - 20251017), A - share market major broad - based indexes showed a downward trend. Overseas indexes mostly declined. For example, the Shanghai Composite Index fell 1.47% to 3839.76, and the Hang Seng Technology Index fell 7.98% [2] - **Fund Market Review**: Most active equity funds had negative returns last week, with a median return of - 4.18%. Financial real - estate and consumption theme funds performed well [2] - **ETF Fund Statistics**: The top three ETF categories in terms of performance last week were commodity futures (8.80%), international broad - based (0.38%), and bonds (0.11%). There were 585 ETFs with net capital inflows and 464 with net outflows [2] - **Fund Market Dynamics**: 37 public funds had new fund manager appointments, 10 new public funds were established with a total of 95.48 billion shares, 55 funds entered the issuance stage for the first time, and 41 funds were waiting to be issued [2] - **Equity Fund Issuance Tracking**: Last week, the issuance scale of equity funds reached 57.40 billion yuan, an increase of 48.88 billion yuan from the previous week. It is expected that new funds will bring incremental funds to industries such as electronics and power equipment and new energy [2] Summary by Directory 1 Important Information 1.1 Market Dynamics - **First Batch of Fund Q3 Reports**: As of October 17, 25 funds disclosed Q3 reports, including 18 equity funds. Technology - heavy funds performed well. Many fund managers still favored the growth technology sector [7] - **Gold Influx**: In the past 5 days, over 150 billion yuan flowed into the SGE Gold 9999 index. On October 16, commodity and Hong Kong market ETFs had net inflows [7][8] - **North Exchange Fund Dividends**: Many North Exchange funds made large - scale dividend distributions, such as the Wanjia North Exchange Huixuan Two - Year Fixed - Open Hybrid [8] - **Bond Fund Net Value Precision Adjustment**: In early October, bond funds had net outflows, and some fund managers increased the net value precision of bond funds to deal with large - scale redemptions [9] 1.2 Product Hotspots - **Personal Pension Fund Expansion**: On October 17, 8 new products were added to the personal pension fund list, including 5 index - enhanced funds, 2 FOF products, and 1 ETF connection fund [10] - **Early Fundraising End and Proportional Allocation**: In October, many funds ended fundraising early and some started proportional allocation, such as the E Fund Hong Kong Stock Connect Technology Hybrid [11] - **CSI A500ETF Anniversary**: Since its launch in 2024, the CSI A500 index - related products have a total scale of over 300 billion yuan, and the index has outperformed some broad - based indexes [13] 1.3 Overseas/Overseas Market - **Brazilian Theme QDII**: E Fund and China Asset Management may launch two Brazilian theme QDIIs, which will track the Ibovespa index [13][15] - **Emerging Market Product Returns**: Most emerging market investment products have achieved double - digit returns this year, and some have doubled [15] 2 Market Review - A - share major broad - based indexes declined last week, and overseas indexes mostly fell. The banking and coal industries had the highest gains [16][18] 3 Fund Market Review 3.1 Active Equity Fund Performance - In the past week, financial real - estate and consumption theme funds performed well; in the past three months, technology and cycle theme funds led; in the past year, technology and manufacturing theme funds were outstanding [21] 3.2 Top - Performing Fund Performance Statistics - The top - performing active equity fund last week was Minsheng Jiayin Financial Selection A, with a return of 6.15% [25] 4 ETF Fund Statistics 4.1 ETF Fund Performance - Last week, the top - performing ETF categories were commodity futures, international broad - based, and bonds. The top - five performing ETFs were also listed [27][29] 4.2 ETF Fund Capital Flow Statistics - Last week, the top categories with net capital inflows were commodity futures, technology, and financial real - estate, while A - share broad - based ETFs had the largest outflows [30] 4.3 ETF Fund Premium and Discount Statistics - As of October 17, the top three ETFs with premium rates were Huaxia Feed Soybean Meal Futures ETF, Bosera Hang Seng Technology ETF, etc.; the top three with discount rates were Jiaotong 180 Governance ETF, etc. [35] 5 Fund Market Dynamics 5.1 Fund Manager Changes - 37 public funds had new fund manager appointments, involving 28 fund managers from 21 fund management companies. 39 funds had fund manager departures [37][40] 5.2 Newly Established Funds Last Week - 10 new public funds were established, with a total of 95.48 billion shares. The most numerous type was partial - stock hybrid funds [43] 5.3 First - Issued Funds Last Week - 55 public funds entered the issuance stage for the first time. The most numerous fund management companies were China Europe, China Asset Management, Hua'an, and Huatai - PineBridge. The most numerous type was passive index funds [45] 5.4 Funds to be Issued - As of October 19, 41 public funds were waiting to be issued [2] 5.5 Equity Fund Issuance Tracking - Last week, the issuance scale of equity funds increased. There are still 270 new funds in the position - building period, with an estimated 589.99 billion yuan yet to be invested [2]