The well-known fund evaluation organization Lipper has just released its August fund market report, which claims that the number of funds accounts opened in August exceeded the number of A-share accounts opened for the first time, reflecting a shift in market structure and making the characteristics of an institution-led market increasingly evident. In this report, through the calculation of performances over various terms during the past four years, Zhou Liang, Head of Lipper China Research, believed that the performance of mainland funds had a certain degree of continuity.