Caitong Asset Management Digital Economy Hybrid Fund suspends large subscriptions.

On August 19, Caitong Asset Management announced that it will temporarily suspend large purchases of Caitong Asset Management Digital Economy Hybrid Fund, with a daily limit of 10 million yuan for both A and C shares in a single account. The fund is managed by Bao Ruowen, deputy general manager of Caitong Asset Management's public equity investment department, with a net increase of 939 million shares in the second quarter of this year. According to Guotai Haitong Securities data, as of June 30, the fund's returns in the past 1 year and 2 years ranked in the top 2% and top 5% respectively among strong stock mixed funds. Industry insiders pointed out that when the net asset value of the fund rises rapidly, a large influx of short-term funds may affect the efficiency of the fund manager's portfolio adjustments and even dilute the returns of existing shareholders. Limiting purchases can prevent rapid inflow of funds from impacting the investment portfolio.