一周内两家量化晋升百亿，“百亿俱乐部”量化数量首次超过主观

Group 1 - The number of quantitative managers in the "Billion Private Equity Club" has surpassed subjective managers for the first time, with 41 quantitative managers compared to 40 subjective managers [2] - The total number of billion private equity firms remains at 89, but the proportion of quantitative managers has increased significantly from 33 to 41, while subjective managers decreased from 46 to 41 [2] - In the first half of the year, 93% of 1243 quantitative long funds achieved positive returns with an average return of 15.42%, while only 79% of subjective long funds achieved positive returns with an average return of 9.23% [2] Group 2 - The active trading of small-cap stocks and improved overall market liquidity have created a favorable environment for quantitative models [3] - Despite the increase in leading quantitative managers, there remains a significant gap in total management scale, with a ratio of approximately 3:1 between subjective and quantitative management scales [3] - Notable subjective managers continue to attract funding, indicating that excellent subjective stock picking remains a core competitive advantage in the market [3] Group 3 - Discussions on the superiority of subjective versus quantitative strategies have emerged, with a perspective that both can coexist and serve different purposes [4] - Quantitative investment is characterized by diversification and rational decision-making, while subjective strategies can exploit specific industry opportunities for long-term excess returns [4]