Core Insights - The global economy is undergoing profound changes, with emerging economies rising and major power dynamics at play, highlighting the importance of diversified asset allocation and cross-border investment [1] - Hong Kong, as a key financial hub connecting East and West, continues to attract global investors due to its mature financial ecosystem and unique position backed by mainland China [1] - The inaugural Hedge Fund and Family Office Awards will be held on August 22, 2025, in Hong Kong, organized by 排排网全球, aiming to integrate industry resources and facilitate high-level discussions on cross-border investment [1] Awards and Recognition - The awards will feature two main categories: the "Excellence Award" for outstanding institutions leading the industry and the "Emerging Award" to recognize promising new managers [2] - The selection process involves a combination of quantitative metrics and qualitative assessments by a global panel of experts, focusing on investment capabilities and future potential [2] Roundtable Discussions - Three in-depth roundtable forums will be held, covering strategies to navigate market volatility, the impact of AI on investment management, and the strategic allocation of family offices [3][4][5] - The first roundtable will discuss multi-dimensional investment strategies in the context of geopolitical conflicts and global market fluctuations [3] - The second roundtable will focus on the competitive landscape in Hong Kong, exploring how emerging managers can differentiate themselves and secure investor trust [4] - The third roundtable will address the evolution of family office direct investment trends and the role of Hong Kong resources in global strategic planning [5] 排排网全球 Overview - 排排网全球 is a key part of 排排网 Group's globalization strategy, dedicated to serving high-net-worth Chinese investors and providing a comprehensive financial information service platform [6][11] - The group has been active in the financial technology sector since its establishment in 2004, serving over 3 million high-net-worth clients with wealth management services [9][12] - The awards ceremony aims to create a platform for practical exchanges and collaborations in the cross-border investment sector, inviting industry professionals and media to explore new investment opportunities [6][12]

本文首发于公众号"私募排排网"。 （点击↑↑ 上图订阅专栏 ） 在2025上半年北京地区量化榜中，信弘天禾上半年以***%的收益夺冠 （ 点此看收益 ） 。 基金经理张华和章毅管理的"信弘征程2号B类 份额"上半年收益为***%，表现较为突出。 在2025半年度中证500指增产品榜中， 信弘天禾的"信弘中证500指数增强2号A类份额"，以***%的超额收益排名第一 ，上半年绝对收益 则为***%。 （ 点此看收益 ） 下面，就让我们一起深入了解信弘天禾。 （ 左右滑动下方图片看更多榜单 ） 编者按 在财富管理的大航海时代，私募基金以其灵活的策略、专业的团队和追求绝对收益的目标，吸引了越来越多高净值投资者的目光。然而，这个 行业也因其信息较少、不对称等特性，蒙上了一层神秘的面纱。策略如何运作？团队水平如何？短、中、长期业绩表现如何？风险控制究竟如 何……这些问题，往往是投资者在做出决策时，最难穿透的"迷雾"。正是基于此，私募排排网隆重推出 "深度 揭秘100家 私募" 栏目。为投资 者拨开云雾，提供真正有价值的深度洞察。 第三期我们将揭秘 百亿量化私募信弘天禾 ，信弘天禾在2025上半年的榜单中勇夺多个第一 。 ...

Core Viewpoint - The A-share market has seen a revitalization through various themes such as artificial intelligence, robotics, innovative pharmaceuticals, and new consumption, leading to new opportunities for stock strategy private equity products [2] Summary by Categories Stock Strategy Products Performance - As of July 25, there are 2,758 stock strategy products with nearly one year of performance data, averaging a return of 49.04% and a dynamic drawdown of 13.23% [2][3] - Among the four secondary strategies, quantitative long and subjective long products have the highest average returns of 65.01% and 48.24%, respectively [2][3] - Quantitative long products exhibit a lower dynamic drawdown of 10.99% compared to subjective long products at 15.06% [2][3] - The stock market neutral products have the lowest dynamic drawdown at 5.54%, primarily due to their use of shorting to hedge beta risk [2] Top Performing Products - In the quantitative long category, the top three products are managed by Shengguanda, Hainan Shengfeng, and Liangchuang Investment [4][5] - Among 674 quantitative long products, 368 have a dynamic drawdown below the average of 10.99%, accounting for 54.6% [4] - The top products in the quantitative long category are primarily from private equity firms with assets under management between 20-50 billion [4] Subjective Long Products - In the subjective long category, 1,098 out of 1,810 products have a dynamic drawdown below the average of 15.06%, representing 60.66% [10] - The top three products are managed by Qinxing Fund, Beiheng Fund, and Youbo Capital [10][12] Stock Market Neutral Products - In the stock market neutral category, 136 out of 208 products have a dynamic drawdown below the average of 5.54%, which is 65.38% [15] - The top three products are managed by Jiaji Fund, Saisuo Fund, and Liangkui Private Equity [15][17] Stock Long-Short Products - In the stock long-short category, 36 out of 66 products have a dynamic drawdown below the average of 10.47%, accounting for 54.55% [18] - The top three products are managed by Yihua Yinghe Fund, Shengquan Hengyuan, and Beijing Jintai Fund [18][20]

本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 7月A股三大指数均走出了单边上扬的走势，虽然在月末有所调整，但整个7月的市场表现依然是近一年来表现较好的月份。7月市场成交额维持 在较高水平，同时融资余额创下年内新高，市场做多氛围较好。 目前上证指数已经临近去年高点，同时，8月份是A股公司披露中报的窗口期，8月份的A股市场会怎么走呢？具体又有哪些板块和个股或有表现 的机会呢？ 为了给读者提供一些参考，笔者整理了券商的8月市场观点和券商金股组合数据。 （券商金股是各家券商每月精挑细选出来的股票，是各家券商 分析师的研究精华，颇受市场的关注。） （ 点此领取8月券商金股全名单 ） 0 1 电子板块依然最受青睐，顺周期板块关注度上升明显！ 展望8月的A股市场， 东吴证券 表示，当前沪指已经进入了新的运行中枢，前期参与拐点交易的资金在快速获利后存在兑现需求， 因此市场可 能震荡蓄势 。周期权重是指数走强的关键。顺周期板块搭台后，成长有望持续表现。建议关注具备筹码/比价优势的泛科技方向。 长城证券 表示，8 月进入中报业绩验证期，对市场有一定的考验。8 月市场风险因素有所增多，但是政策发力和积极态势未改， ...

本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 7月，A股、港股、美股三大主要市场行情继续呈现震荡上升趋势。A股方面，上证指数、深证成指、创业板指月内累涨3.74%、5.2%、 8.14% ，其中上证指数突破3600点关口，为2024年10月8日以来首次。港股方面，三大指数月内均累涨超2%，其中恒生指数以2.91%的涨幅领衔。美股 三大指数月内同样全部收涨，其中纳斯达克指数涨幅最高，达到3.7%。 | 排名 | 基金经理 | 核心策略 | 从业背景 | 符合排名规 则的产品数 | 令年以来 近1日 收益% 收益% | 公司简称 | 公司规模 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 但斌 | 股票 | 券商 | 78 | | 乐万港湾 | 100亿以上 | | 2 | 林园 | 股票 | 私募 | б | | 林园投资 | 100亿以上 | | 3 | 吴悦风 | 股票 | 券商 | | 应监管要求 | 嘉越投资 | 0-5亿 | | 4 | 李倍 | 多资产 | √富 | | 查看收益 | 非夏投资 | 50-100亿 ...

Core Viewpoint - Since the "9.24 market" last year, the A-share market has shown a structural slow bull trend, with private equity products focusing on stock strategies achieving strong performance in the first half of this year and over the past year. However, over a longer time frame of three to five years, futures and derivatives strategies have shown stronger performance, with significant increases in commodities like gold and lithium carbonate [2][3]. Summary by Category Private Equity Strategy Performance - As of June 30, 2025, there are 593 futures and derivatives strategy products that meet ranking criteria, with average returns of 39.11% over three years and 97.41% over five years, outperforming other strategies [2][3]. - The average returns for various strategies in the first half of the year and over different time frames are as follows: - Stock Strategy: 12.36% (H1), 36.36% (1 year), 35.48% (3 years), 74.97% (5 years) - Futures and Derivatives Strategy: 5.04% (H1), 18.12% (1 year), 39.43% (3 years), 98.23% (5 years) - Multi-Asset Strategy: 8.20% (H1), 25.76% (1 year), 37.34% (3 years), 95.98% (5 years) - Bond Strategy: 5.54% (H1), 13.01% (1 year), 35.14% (3 years), 82.64% (5 years) - Combination Fund: 6.72% (H1), 20.70% (1 year), 15.06% (3 years), 34.10% (5 years) - Overall Average: 10.08% (H1), 30.13% (1 year), 35.81% (3 years), 80.06% (5 years) [3]. Top Performing Private Equity Firms - Among firms with over 20 billion in assets, the top three in futures and derivatives strategy returns over three years are: 1. Junfu Investment 2. Junchen Asset 3. Loshu Investment - The average returns for these firms are not disclosed due to regulatory requirements [4][5]. - Junfu Investment focuses on a diverse range of asset classes, including commodity strategies and various index enhancements, with eight qualifying products showing returns above a certain threshold [6][9]. Mid-Sized Private Equity Firms - For firms with 5-20 billion in assets, the top three in futures and derivatives strategy returns over three years are: 1. Guanzhi Fund 2. Zhemeng Investment 3. Mingrui (Beijing) Private Equity - The average returns for these firms are also not disclosed [10][12]. Small Private Equity Firms - Among firms with 0-5 billion in assets, the top three in futures and derivatives strategy returns over three years are: 1. Fuying Investment 2. Qihe New Asset Management 3. Mufeng Investment - The average returns for these firms exceed a certain threshold, with Fuying Investment's top product showing significant returns [15][16].

本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 自4月7日美国关税冲击后，A股一路上行，上证指数一度站上3600。 一般而言，在趋势性行情 中，主观投资的基金经理能够凭借市场趋势和行业方向，集中投资于优势个股，更加精准地把握 结构性机会，获取超越市场的业绩表现。 相比量化的分散布局，依赖高波动获取超额收益，这时 主观投资的收益弹性将更加明显。 那么，今年来哪些主观私募基金经理抓住了这次A股的趋势性行情？为了给予更有价值信息，本 文按50亿以上、20-50亿、10-20亿、5-10亿、0-5亿不同规模私募，分别梳理出今年来私募基金 经理主观多头产品榜，供投资者参考 (所选私募基金经理需在私募排排网有业绩显示的主观多头 产品在3只及以上) 0 1 50 亿以上：童驯、陆航夺冠亚军！梁宏、王文创新高！但斌收复年内失地！ 私募排排网数据显示，截至7月25日，头部(50亿以上)私募旗下符合排名规则的主观多头产品共 162只，今年来收益均值高达11.91%，正收益产品数共156只，正收益占比高达96.30%。 今年来 主观多头收益位居前三的私募基金经理分别为：同犇投资童驯、复胜资产陆航、进化论资产王一 平 ...

Core Insights - The A-share market showed a trend of fluctuating growth in the first half of 2025, with quantitative private equity becoming a prominent investment force, achieving an average return of 8.32% across all private equity securities products, and 10% for stock strategy private equity [1] - Among 1,243 quantitative long strategy products, 93.32% achieved positive returns, with an average return rate of 15.42%, significantly outperforming other sub-strategies [1] - A wave of dividends emerged in the industry, with 558 private equity products distributing dividends, accounting for 14.09% of the total, amounting to 5.655 billion yuan [1] - High income for private equity managers leads to increased tax burdens, prompting them to seek legal and compliant tax optimization strategies [1] Group 1: Investment Performance - The average return for private equity securities products in the first half of 2025 was 8.32% [1] - Stock strategy private equity led with an average return of 10% [1] - Quantitative long strategy products had a remarkable average return of 15.42%, with 93.32% achieving positive returns [1] Group 2: Dividend Distribution - By the end of June 2025, 558 private equity products had distributed dividends, representing 14.09% of the total products with performance data [1] - The total amount of dividends distributed reached 5.655 billion yuan [1] Group 3: Tax Optimization Strategies - High income levels for private equity managers result in significant tax liabilities, including corporate income tax and value-added tax [1] - The need for tax optimization strategies is emphasized due to the high tax burden faced by managers in the quantitative private equity sector [1] Group 4: Risk Management and Insurance - Private equity managers face core risks including compliance, investment, operational, liquidity, reputation, and ethical risks throughout the fundraising, investment, management, and exit processes [3] - Professional liability insurance is deemed essential for private equity managers to mitigate risks associated with investment decisions and internal management [3][4] - The selection of professional liability insurance should focus on coverage that matches core business risks, including management and professional liability [4] Group 5: Employee Benefits and Insurance - The importance of a comprehensive employee benefits and insurance system is highlighted for attracting and retaining top talent in private equity firms [5] - Group accident insurance and employer liability insurance are included in the core benefits to provide comprehensive protection for employees [5] Group 6: Tax-Advantaged Insurance - The organization considers tax-advantaged insurance options, such as supplementary medical insurance, which can be deducted from total wages within 5% to reduce tax burdens [6] - The focus is on balancing tax compliance, employee needs, and cost-effectiveness when selecting insurance products [6] Group 7: Insurance Configuration Recommendations - Recommendations for insurance configurations for different roles within private equity firms include high-end medical insurance, critical illness insurance, and professional liability insurance [10][12][13][15] - Specific insurance products are suggested based on the unique risks associated with investment research, marketing, and operational roles [10][12][13][15]

本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 私募排排网数据显示， 2024年有过离职的证券类私募从业人员共409位，相比2023年的761位大 幅减少，从近十年私募从业人员变动情况看，私募人员变动创下新低。 整体来看，随着私募行业 发展的逐渐成熟，人才流动频次明显减少，更加趋于稳定。 从2024年 有过离职的409位证券类私募基金经理来看，现仍任职于证券类私募公司的有244位。 适当的人才流动有利于打破信息壁垒，推动行业创新，有利于保持行业活力和竞争力。 为了给予更有价值的信息，本文将按不同规模证券类私募，分别梳理出2024年证券类私募行业人 才流动图谱，供投资者参考 (统计范围：2024年有私募离职记录，最新任职依旧在证券类私募行 业的从业人员) （ 点此领取完整人才流动图谱 ） 0 1 50 亿以上：多位创业成立私募，梁力、葛陈亮等开启新征程！ 私募排排网数据显示，2024年从50亿以上证券类私募离职的人员共13位，并且这13位均依然任职 于证券类私募公司，其中现任职于百亿私募有两位，6位任职于0-5亿私募(其中多位选择创业成立 私募)。 （ 点此查看完整人才流动图谱 ） | 排序 | ...

以下文章来源于公募排排网 ，作者康波 公募排排网 . 看财经、查排名、买基金，就上公募排排网，申购费低至0.001折。 本文首发于公众号"公募排排网"。（点击↑↑上图查看详情） 债市为什么跌？ 最近债市波动较大，7月24日债市大幅回调，不少投资者关心当下债市调整结束了没有？现在持有的债基应该怎么办？接下来笔者将从引发债 市回调的原因入手，深入剖析，为大家解答这些问题。综合近期市场发酵的观点来看，主要有以下几个方面的因素对债市回调产生影响： 一是育儿补贴政策的出台。 国家针对有3岁以下儿童的家庭，推出每人每年3600元的补贴政策。这一政策虽符合预期，却引发了债券市场投资者的担忧。部分投资者担 心，未来生育补贴力度可能加大，政府财政支出会增加，甚至需要更多举债，进而影响债券市场利率。 然而， 从政策本身来看，补贴力度并未超出预期 ，且国家在制定政策时会充分考虑财政可持续性。其实无需过度恐慌，被短期情绪左右。从 长期来看，债券市场走势仍将受宏观经济、货币政策等多因素综合影响。 （ 点此查看2022-2024年各月份出生婴幼儿申领育儿补贴对照表 ） 就拿光伏行业来说，市场传闻，国家将整治光伏行业低价竞争、盲目投资和产 ...