Over a long period of time, targeted increases have become an important tool for public funds to increase investment income with the advantage of being backed up at discounted prices. However, with the A-share structural market becoming more extreme, this traditional arbitrage strategy has long ceased to make steady profits without compensation. Recently, many popular racetrack stocks have launched fixed increase projects, attracting many public equity institutions to subscribe. However, with the rapid correction of stock prices in the secondary market, even enjoying the advantages of discounted shares, many fixed increase projects still fell into losses, and the fixed increase investment performance of public funds showed a marked divergence trend during the year. Some industry insiders told the Securities Times reporter that the trading mechanism of bidding for fixed increases will amplify market heat and inertia. When market style and industry sentiment change rapidly, the locked fixed increase issue price will lag behind the secondary market market, making it difficult to adapt to the latest changes. At the same time, in the upward cycle of the technology market, for fund managers, the risk of investment mistakes is often less than the risk of going short. If there is an opportunity to invest at a discount, most fund managers will still firmly participate in fixed growth projects.

Over a long period of time, targeted increases have become an important tool for public funds to increase investment income with the advantage of being backed up at discounted prices. However, with the A-share structural market becoming more extreme, this traditional arbitrage strategy has long ceased to make steady profits without compensation. Recently, many popular racetrack stocks have launched fixed increase projects, attracting many public equity institutions to subscribe. However, with the rapid correction of stock prices in the secondary market, even enjoying the advantages of discounted shares, many fixed increase projects still fell into losses, and the fixed increase investment performance of public funds showed a marked divergence trend during the year. Some industry insiders told the Securities Times reporter that the trading mechanism of bidding for fixed increases will amplify market heat and inertia. When market style and industry sentiment change rapidly, the locked fixed increase issue price will lag behind the secondary market market, making it difficult to adapt to the latest changes. At the same time, in the upward cycle of the technology market, for fund managers, the risk of investment mistakes is often less than the risk of going short. If there is an opportunity to invest at a discount, most fund managers will still firmly participate in fixed growth projects.