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 interest from investors after a period of underperformance [1][2]. Group 1: Performance Recovery - Established private equity firms have seen a remarkable recovery in performance, with some products achieving returns exceeding 40% in the first half of the year [1][2]. - Notable firms like淡水泉投资 reported a year-to-date return of 15.98% and a one-year return of 35.46% as of August 1 [2]. - 重阳投资 also achieved over 15% returns this year, with a one-year return nearing 35% [2]. - 源乐晟 experienced a turnaround with a year-to-date return of 35.54% and over 40% in the last six months [2]. - 盘京投资 reported a year-to-date return of 27.67%, while 高毅资产's managers achieved returns exceeding 10% [2]. Group 2: Strategic Upgrades - Many established private equity firms are focusing on reforming their investment research systems to adapt to changing market conditions [3]. - Firms like 淡水泉投资 have initiated organizational changes, enhancing their research capabilities and establishing new industry research units [3]. - 星石投资 has implemented a multi-fund manager team system, allowing for independent decision-making within a structured framework, which has shown positive results in performance [4]. Group 3: Market Outlook - The outlook for the market remains optimistic, with expectations of structural opportunities despite potential short-term volatility [5]. - Key areas of focus include the revaluation of high-quality Chinese assets, globalization of competitive industries, and advancements in technology innovation [5][6]. - 源乐晟 emphasizes the importance of sectors such as technology, innovative pharmaceuticals, non-ferrous metals, and non-bank financials, with a new focus on non-bank financials due to rising market activity [6].