More than 80% of new funds are building positions in an orderly manner and not in a hurry to fully invest.

Active equity funds established since the fourth quarter have shown increasing signs of positioning. As of December 3rd, over 80% of new funds have experienced fluctuations in net asset value. Despite some funds having a return rate of over 10%, most funds are cautious in their positioning due to market volatility and style shifts at the end of the year, with net asset value fluctuations generally kept within 1%. Several public fund insiders told Securities Times reporters that market style shifts are common at the end of the year and the beginning of the new year. New funds have ample time for positioning, so they are not eager to increase their positions in popular tracks, and they are more inclined to "plan before acting". Regarding future investment directions, the industry generally agrees that the trends in the AI application industry are clear, and substantial breakthroughs are expected by 2026.