金价又崩了，还能持有吗？投资者如何应对国际贸易政策不确定性？宝藏私募分享最新观点

Group 1: Private Equity Landscape - The number of private equity firms managing over 10 billion yuan has increased to 87, up from 84 in March, indicating a slight expansion in the sector [1] - Among the new entrants, seven firms have either newly joined or returned to the 10 billion yuan club, while four firms have exited due to scale contraction [1] - The distribution of investment strategies shows that subjective strategy firms lead with 41, followed closely by quantitative strategy firms with 38, and mixed strategy firms at 7 [1] Group 2: A500 Index Products - In the first four months of the year, 165 A500 index enhancement products were registered, with 17 of the 10 billion yuan private equity firms being the main contributors, accounting for 142 of these products [2] - Leading firms in A500 index product registrations include Heiyi Asset, Kuande Private Equity, and Shiji Qianyan, with 38, 37, and 16 products respectively [2] - The popularity of A500 index products is attributed to their compatibility with quantitative strategies and the comprehensive coverage of the index [2] Group 3: Regulatory Environment - The Shanghai Securities Regulatory Bureau has mandated private equity firms to conduct self-assessments and corrections by June 15, 2025, in response to regulatory tightening [4] - Recent reports from Beijing and Shenzhen highlight violations during fundraising and operational phases, including misappropriation of fund assets [5] - The regulatory scrutiny is aimed at ensuring compliance and protecting investor rights within the private equity sector [4][5] Group 4: Market Trends and Opportunities - The private equity sector is experiencing a surge in registrations, particularly in quantitative strategies, which now account for 43.83% of all registered private equity products [3] - The stock strategy remains dominant, with 1,056 registered products, representing 69.02% of the quantitative strategy segment [3] - The trend indicates a shift towards quantitative strategies becoming mainstream within the private equity landscape [3] Group 5: Institutional Developments - A consortium of major insurance asset management companies has established a private equity fund with a total contribution of 130.01 billion yuan [14] - The fund aims to engage in equity investments and asset management activities, pending registration with the China Securities Investment Fund Industry Association [14] - This collaboration reflects a growing trend of institutional investors pooling resources to enhance their investment capabilities [14]