Fund advisory portfolios add to A-share holdings amid October market swings

The notable signal is behavioral rather than directional: advisory portfolios added A-shares more than any other asset class while volatility was elevated, and the buying carried into November. That suggests dip-driven allocation discipline among advisory clients rather than a broad risk-on shift, since the data cover advisory portfolios specifically and not the wider market. Whether this low-level accumulation persists if swings continue is the open question, along with whether other asset classes see offsetting outflows.