By July 9, 244 fund products had closed fundraising early, up 45 YoY. Equity strategies dominated: 80 passive index equity funds, 11 enhanced-index funds and 46 active equity-biased funds, signaling funds are channeling capital into the market. 'Sold-out' funds were common — the first batch of CSI REITs total-return index funds sold out in one day and multiple FOFs and quant funds were also oversubscribed. Industry participants said managers are accelerating fund formation to secure position-building and returns amid a structurally driven market where opportunities in tech and innovative drugs can be fleeting; products with size caps filled quickly, and those without caps closed early to avoid diluting existing holders' returns.(金十数据)