Fundraising and Market Trends - In July, new fund raising exceeded 100 billion RMB, totaling 104.87 billion RMB from 135 new funds, marking the second highest monthly fundraising this year and the third month with over 100 billion RMB raised [1] - Over 300 active equity funds established before 2021 have surpassed their net asset value peaks from 2021 as of the end of July [2] - Public fund participation in private placements has significantly increased, with 16 public funds investing over 4.5 billion RMB in the last three months, and the highest project seeing a price increase of 344% [3] Fund Manager Updates - Guikai has left his position as fund manager for two products at Jiashi Fund due to business adjustments, with Chen Tao and Meng Xia taking over management [4] - Yongying Fund announced a purchase limit for the fund managed by Chief Equity Investment Officer Gao Nan, effective August 4, with a cap of 1 million RMB per account per day [5] ETF Market Performance - The market opened lower but rebounded, with the Shanghai Composite Index rising by 0.66%, the Shenzhen Component Index by 0.46%, and the ChiNext Index by 0.5%. The total trading volume in both markets was 1.5 trillion RMB, a decrease of 99.8 billion RMB from the previous trading day [6] - Gold-related ETFs saw strong performance, with some rising by as much as 5.04% [7] ETF Specifics - The top-performing gold ETFs included: - Gold ETF 517400 with a price increase of 5.04% and a trading volume of 371,200 [8] - Gold ETF 159562 with a price increase of 4.49% and a trading volume of 446,900 [8] - Conversely, the S&P Oil & Gas ETF led declines with a drop of 2.94% [9] Upcoming Fund Launches - Yongying Fund is set to launch the Yongying Shanghai Stock Exchange Science and Technology Innovation Board Artificial Intelligence Index Fund, managed by Zhang Lu, with a performance benchmark linked to the index and a portion to bank deposit rates [10]