In a favorable market, the performance of actively managed equity funds has a difference of over 100 percentage points this year. Data shows that as of now, the highest annual return for actively managed equity fund products in All Market has reached 71.26%, while the lowest has recorded a loss of 36.43%. Currently, the three actively managed equity funds with the highest profits this year all employ a high concentration strategy, while the three funds with the most losses all adopt a low concentration strategy. It is worth mentioning that, in the context of significant losses, fund managers have taken a low concentration strategy by giving up on heavily weighted stocks. This strategy of diversifying is largely related to managing potential large redemption risks, and multiple funds have issued risk warnings in this regard. However, while giving up heavily weighted stocks can help manage fund redemptions, it also leads to further underperformance of the fund.