业绩集体回暖老牌私募“王者归来”

Core Viewpoint - The resurgence of established private equity firms in China is highlighted, with many achieving significant performance recoveries and attracting renewed investment interest after a period of underperformance [1][2]. Group 1: Performance Recovery - Established private equity firms are experiencing a performance rebound, with some reporting year-to-date returns exceeding 40% [1]. - Notable firms like淡水泉投资 and 重阳投资 have reported year-to-date returns of 15.98% and over 15%, respectively, with近一年收益率 around 35% [1][2]. - 源乐晟 has also seen a turnaround, with year-to-date returns reaching 35.54% and over 40% in the last six months [2]. Group 2: Investment Strategies - Various strategies are being employed by established private equity firms, including deep value investing and growth-oriented investments, particularly in sectors like artificial intelligence [2]. - The adaptability of investment strategies to different market conditions is emphasized, with firms adjusting their approaches based on asset performance [2]. Group 3: Research and Organizational Reforms - Firms are actively reforming their research and investment frameworks to enhance adaptability and decision-making [3]. - For instance, 淡水泉投资 has restructured its research organization to improve its understanding of emerging industries and market dynamics [3]. - 星石投资 has implemented a multi-fund manager system to enhance decision-making and performance accountability [3]. Group 4: Market Outlook - The outlook for the market remains positive, with expectations of structural opportunities driven by policy support and active capital [4]. - Key areas of focus include the revaluation of high-quality Chinese assets, the globalization of competitive industries, and advancements in technology innovation [4]. - 源乐晟 anticipates favorable conditions in both Chinese and U.S. stock markets, driven by economic resilience and adjustments in investor sentiment [4].