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//oneWeekly Headlines//

• Equity quantitative private placement turns to medium and low frequency tracks
• Fund investment advisors change with the trend, and diversified allocations are frequently launched
• Small and medium-sized banks start a new round of "interest rate cuts"
• “Gold+” becomes a new trend in asset allocation
• Hedge funds increased their holdings of Apple in the second quarter

// Domestic investment news//

1、Equity quantitative private placement turns to medium and low frequency tracks. Since the beginning of this year, the quantitative private equity fund industry, which had been running wild, is slowing down - the overall scale of the industry and product performance have both declined significantly. At the same time as the speed is slowing down, the overall transaction frequency is also decreasing, and turning to the medium and low frequency trading track has become a new choice for some quantitative private equity. Regarding high-frequency trading, the regulatory authorities have previously clarified the high-frequency trading standards and announced the implementation of differentiated charges for high-frequency trading, which is currently progressing steadily. The rate of high-frequency trading may increase significantly, and the regulatory details are expected to be launched in October this year, which will have a far-reaching impact on the industry.

2、Fund investment advisors change with the trend, and diversified allocations are frequently launched. Recently, some fund investment advisory products have accelerated the pace of rebalancing and rebasing. Fund buyers under several fund companies, including Bank of Communications Schroder Fund, China Merchants Fund, and Southern Fund, have adjusted their holding strategies and released rebalancing reports. In addition, many equity investment advisory portfolios have also started "starting" plans based on their recent market research and judgment. Many investment advisory portfolios stated in their rebalancing reports that they are optimistic about the allocation value of equity assets in the long term. At present, the valuation of A-shares has reached a relatively low level, and there is limited room for further decline.

3、Local small and medium-sized banks began to intensively reduce deposit interest ratesAfter the six major state-owned banks and 12 joint-stock banks lowered their deposit rates at the end of July, small and medium-sized banks in Guangdong, Jiangsu and other places have also followed suit and announced deposit rate cuts since August. Industry insiders believe that this round of deposit rate cuts will alleviate the pressure on banks' net interest margins to a certain extent. Whether the subsequent deposit rates will be further reduced may be affected by multiple factors such as the recovery of the macro economy, the central bank's policies, the bank's net interest margins and the interest rate level of the financial market.